4D Molecular Therapeutics (NASDAQ:FDMT) Shares Climb 7.4% - Here's Why

Key Points

• 4D Molecular Therapeutics shares rose 7.4% to about $13.20 in midday trading, though volume was 89% below the stock’s average daily volume.
• Analyst sentiment is broadly positive: 10 analysts rate the stock Buy, with a consensus “Moderate Buy” rating and an average price target of $28.90.
• The company remains an unprofitable clinical-stage biotech, reporting a quarterly loss of $1.04 per share and negative net margins, while insiders have sold approximately $1.76 million in stock over the past three months.

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report)'s stock price shot up 7.4% during mid-day trading on Tuesday. The stock traded as high as $13.13 and last traded at $13.1950. Approximately 90,859 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 851,308 shares. The stock had previously closed at $12.29.

Analysts Set New Price Targets

Several brokerages recently commented on FDMT. HC Wainwright reaffirmed a "buy" rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Monday, July 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research note on Thursday. Bank of America lifted their price objective on 4D Molecular Therapeutics from $29.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, September 29th. Cantor Fitzgerald upgraded shares of 4D Molecular Therapeutics from a "neutral" rating to an "overweight" rating and set a $20.00 target price on the stock in a research note on Monday, September 14th. Finally, Chardan Capital lowered their target price on shares of 4D Molecular Therapeutics from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, October 6th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $28.90.

4D Molecular Therapeutics Stock Up 5.5%

The company has a market cap of $716.52 million, a P/E ratio of -4.93 and a beta of 2.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 8.03 and a quick ratio of 8.03. The business's 50 day moving average price is $14.02 and its 200-day moving average price is $11.55.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.02). 4D Molecular Therapeutics had a negative net margin of 194.74% and a negative return on equity of 41.33%. The business had revenue of $3.78 million for the quarter, compared to analyst estimates of $3.62 million. On average, analysts anticipate that 4D Molecular Therapeutics, Inc. will post -4.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider David Kirn sold 58,333 shares of the company's stock in a transaction on Monday, October 5th. The stock was sold at an average price of $12.92, for a total transaction of $753,662.36. Following the transaction, the insider owned 709,153 shares of the company's stock, valued at approximately $9,162,256.76. This represents a 7.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 134,570 shares of company stock valued at $1,759,323. Insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Toth Financial Advisory Corp bought a new position in shares of 4D Molecular Therapeutics during the third quarter worth $29,000. Legal & General Group Plc bought a new position in 4D Molecular Therapeutics during the second quarter worth about $59,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of 4D Molecular Therapeutics in the second quarter valued at $148,000. The Manufacturers Life Insurance Company bought a new position in shares of 4D Molecular Therapeutics during the second quarter worth approximately $166,000. Finally, Sei Investments Co. raised its stake in 4D Molecular Therapeutics by 8.9% in the 1st quarter. Sei Investments Co. now owns 12,862 shares of the company's stock worth $120,000 after purchasing an additional 1,050 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases. The company uses its Therapeutic Vector Evolution platform to engineer adeno-associated virus (AAV) vectors designed to deliver genetic medicines to specific tissues, including the eye and lungs.

Its investigational pipeline includes 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema.

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