4D Molecular Therapeutics (NASDAQ:FDMT) Shares Down 7% - Here's Why

Key Points

• 4D Molecular Therapeutics shares fell 7% to about $11.02, with trading volume roughly 86% below the average session volume.
• Analyst sentiment remains broadly positive: 11 analysts rate the stock Buy, with a consensus target of $28.90, though ratings range from Buy to Sell.
• The company continues to report significant losses, including quarterly EPS of -$1.04 versus an expected -$1.02, while insiders have sold 136,205 shares over the past 90 days.

Shares of 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report) were down 7% during trading on Friday. The company traded as low as $10.68 and last traded at $11.0150. 119,544 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 858,873 shares. The stock had previously closed at $11.85.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FDMT. B. Riley Financial reaffirmed a "buy" rating on shares of 4D Molecular Therapeutics in a research note on Monday, August 17th. HC Wainwright reissued a "buy" rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Thursday. The Goldman Sachs Group restated a "buy" rating and set a $32.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research report on Thursday, October 15th. Finally, Bank of America boosted their price target on shares of 4D Molecular Therapeutics from $29.00 to $33.00 and gave the stock a "buy" rating in a report on Tuesday, September 29th. Eleven research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.90.

4D Molecular Therapeutics Stock Performance

The firm's 50-day moving average is $14.07 and its 200 day moving average is $11.61. The stock has a market cap of $608.52 million, a PE ratio of -4.20 and a beta of 2.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 8.03 and a current ratio of 8.03.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $3.78 million during the quarter, compared to analyst estimates of $3.62 million. As a group, research analysts anticipate that 4D Molecular Therapeutics, Inc. will post -4.14 EPS for the current year.

Insider Activity

In related news, insider David Kirn sold 58,333 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $12.92, for a total value of $753,662.36. Following the transaction, the insider directly owned 709,153 shares of the company's stock, valued at approximately $9,162,256.76. This trade represents a 7.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 136,205 shares of company stock valued at $1,780,316 over the last 90 days. 7.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of large investors have recently modified their holdings of the stock. Sei Investments Co. lifted its stake in shares of 4D Molecular Therapeutics by 8.9% in the first quarter. Sei Investments Co. now owns 12,862 shares of the company's stock worth $120,000 after acquiring an additional 1,050 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in shares of 4D Molecular Therapeutics in the 3rd quarter worth approximately $29,000. Headlands Technologies LLC grew its position in shares of 4D Molecular Therapeutics by 20.6% in the 2nd quarter. Headlands Technologies LLC now owns 19,238 shares of the company's stock worth $256,000 after acquiring an additional 3,282 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of 4D Molecular Therapeutics during the 2nd quarter valued at approximately $59,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in 4D Molecular Therapeutics during the second quarter valued at $148,000. Institutional investors and hedge funds own 99.27% of the company's stock.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to design adeno-associated virus (AAV) vectors intended to deliver genetic medicines to specific tissues and organs.

Its pipeline has focused primarily on ophthalmology and pulmonology. Key investigational programs have included 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema, and 4D-710, an inhaled gene therapy designed to address the underlying cause of cystic fibrosis in patients who cannot benefit from existing CFTR modulator treatments.

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