4D Molecular Therapeutics (NASDAQ:FDMT) Shares Down 3.6%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report)'s stock price fell 3.6% during mid-day trading on Friday . The company traded as low as $24.36 and last traded at $24.72. 71,985 shares changed hands during trading, a decline of 92% from the average session volume of 932,909 shares. The stock had previously closed at $25.64.

Analysts Set New Price Targets

Several research firms have recently commented on FDMT. BMO Capital Markets decreased their price objective on 4D Molecular Therapeutics from $70.00 to $63.00 and set an "outperform" rating on the stock in a report on Monday, April 1st. HC Wainwright reaffirmed a "buy" rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday. Royal Bank of Canada boosted their price objective on shares of 4D Molecular Therapeutics from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, April 15th. The Goldman Sachs Group reissued a "buy" rating and issued a $81.00 target price on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group upped their price target on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, April 1st. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $44.22.

4D Molecular Therapeutics Price Performance

The firm has a market cap of $1.31 billion, a P/E ratio of -10.26 and a beta of 2.94. The firm's 50 day moving average is $27.96 and its 200 day moving average is $22.13.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.66) EPS for the quarter, topping analysts' consensus estimates of ($0.73) by $0.07. The firm had revenue of $0.03 million for the quarter, compared to analysts' expectations of $1.44 million. 4D Molecular Therapeutics had a negative return on equity of 26.75% and a negative net margin of 436.30%. As a group, analysts expect that 4D Molecular Therapeutics, Inc. will post -3 EPS for the current year.

Insider Buying and Selling at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 8,153 shares of the company's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $31.78, for a total value of $259,102.34. Following the transaction, the insider now owns 1,737 shares in the company, valued at $55,201.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 19,395 shares of company stock worth $620,528. 7.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Hedge funds have recently bought and sold shares of the business. Redmile Group LLC purchased a new position in shares of 4D Molecular Therapeutics during the first quarter valued at approximately $40,189,000. RA Capital Management L.P. lifted its position in 4D Molecular Therapeutics by 35.6% during the third quarter. RA Capital Management L.P. now owns 4,163,211 shares of the company's stock valued at $52,998,000 after purchasing an additional 1,093,680 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in 4D Molecular Therapeutics by 415.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company's stock valued at $16,539,000 after purchasing an additional 658,069 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in 4D Molecular Therapeutics by 1,076.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 641,000 shares of the company's stock worth $20,422,000 after buying an additional 586,500 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of 4D Molecular Therapeutics by 25.3% in the first quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company's stock worth $74,551,000 after buying an additional 473,094 shares during the period. Hedge funds and other institutional investors own 99.27% of the company's stock.

About 4D Molecular Therapeutics

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.