4D Molecular Therapeutics (NASDAQ:FDMT) Shares Down 2.9%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report)'s stock price dropped 2.9% during trading on Tuesday . The company traded as low as $25.62 and last traded at $25.62. Approximately 241,148 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,054,143 shares. The stock had previously closed at $26.39.

Analysts Set New Price Targets

FDMT has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on shares of 4D Molecular Therapeutics from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, April 15th. Jefferies Financial Group lifted their price objective on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, April 1st. The Goldman Sachs Group reaffirmed a "buy" rating and set a $81.00 price target on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. BMO Capital Markets dropped their price target on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an "outperform" rating for the company in a research note on Monday, April 1st. Finally, Barclays started coverage on shares of 4D Molecular Therapeutics in a research note on Monday, April 15th. They set an "overweight" rating for the company. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $44.22.

4D Molecular Therapeutics Stock Performance

The business's fifty day moving average is $28.83 and its two-hundred day moving average is $20.52. The company has a market cap of $1.27 billion, a P/E ratio of -9.33 and a beta of 2.87.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.77) earnings per share for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.09). 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.14%. The company had revenue of ($0.02) million for the quarter, compared to the consensus estimate of $4.67 million. Analysts expect that 4D Molecular Therapeutics, Inc. will post -3.03 EPS for the current fiscal year.

Insider Activity at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 1,750 shares of the business's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $27.67, for a total value of $48,422.50. Following the completion of the sale, the insider now owns 1,737 shares in the company, valued at approximately $48,062.79. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Scott Bizily sold 1,750 shares of the business's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $27.67, for a total value of $48,422.50. Following the completion of the sale, the insider now owns 1,737 shares in the company, valued at approximately $48,062.79. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert Young Kim sold 24,552 shares of the business's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $30.05, for a total transaction of $737,787.60. Following the completion of the sale, the insider now owns 1,043 shares of the company's stock, valued at approximately $31,342.15. The disclosure for this sale can be found here. Insiders sold 143,942 shares of company stock worth $4,074,435 in the last 90 days. 10.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several large investors have recently modified their holdings of FDMT. Bfsg LLC purchased a new position in shares of 4D Molecular Therapeutics in the 4th quarter worth approximately $30,000. Allspring Global Investments Holdings LLC grew its position in shares of 4D Molecular Therapeutics by 702.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company's stock worth $110,000 after buying an additional 3,026 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of 4D Molecular Therapeutics by 359.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company's stock worth $100,000 after buying an additional 3,873 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of 4D Molecular Therapeutics by 23.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company's stock worth $119,000 after buying an additional 1,110 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of 4D Molecular Therapeutics in the 3rd quarter worth approximately $141,000. Institutional investors own 99.27% of the company's stock.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc, a clinical-stage biotherapeutics company, develops genetic medicines using its therapeutic vector evolution platform in the Netherland and the United States. The company develops a portfolio of genetic medicine product candidates focuses in three therapeutic areas for ophthalmology, cardiology, and pulmonology.