4D Molecular Therapeutics (NASDAQ:FDMT) Shares Gap Down After Earnings Miss

Key Points

• 4D Molecular Therapeutics shares opened lower after quarterly EPS came in at a loss of $1.08, missing analyst expectations of a $1.05 loss. Revenue of $4.14 million was slightly above the $4.13 million consensus.
• Analysts maintain a broadly positive view: 10 rate the stock Buy and one rates it Sell, producing a “Moderate Buy” consensus and a $30.22 average price target.
• Company insider David Kirn sold 58,333 shares in October; insiders have sold 122,155 shares worth about $1.64 million over the past 90 days.

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $12.11, but opened at $11.62. 4D Molecular Therapeutics shares last traded at $12.0650, with a volume of 95,359 shares changing hands.

The company reported ($1.08) EPS for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.03). 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%. The firm had revenue of $4.14 million during the quarter, compared to the consensus estimate of $4.13 million.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FDMT shares. Citigroup reaffirmed a "buy" rating on shares of 4D Molecular Therapeutics in a report on Thursday, October 22nd. Chardan Capital cut their price target on shares of 4D Molecular Therapeutics from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, October 6th. HC Wainwright reiterated a "buy" rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Thursday, October 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a report on Thursday, October 15th. Finally, Cantor Fitzgerald upgraded 4D Molecular Therapeutics from a "neutral" rating to an "overweight" rating and set a $20.00 price target for the company in a report on Monday, September 14th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.22.

Insider Activity at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, insider David Kirn sold 58,333 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 709,153 shares in the company, valued at $9,162,256.76. This represents a 7.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 122,155 shares of company stock worth $1,635,925. 7.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC lifted its stake in shares of 4D Molecular Therapeutics by 36.9% in the 3rd quarter. Voya Investment Management LLC now owns 191,868 shares of the company's stock valued at $2,746,000 after purchasing an additional 51,668 shares during the period. AlphaCore Capital LLC acquired a new position in 4D Molecular Therapeutics in the 3rd quarter valued at about $279,000. Allspring Global Investments Holdings LLC increased its position in shares of 4D Molecular Therapeutics by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 38,715 shares of the company's stock valued at $536,000 after purchasing an additional 1,515 shares during the last quarter. StoneX Group Inc. purchased a new stake in shares of 4D Molecular Therapeutics in the 3rd quarter valued at about $178,000. Finally, Alps Advisors Inc. grew its stake in shares of 4D Molecular Therapeutics by 37.9% in the 3rd quarter. Alps Advisors Inc. now owns 73,175 shares of the company's stock valued at $1,047,000 after purchasing an additional 20,119 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

4D Molecular Therapeutics Trading Down 0.6%

The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $13.19 and a 200 day simple moving average of $11.05. The company has a market cap of $664.92 million, a price-to-earnings ratio of -4.59 and a beta of 2.92.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc. is a biotechnology company developing genetic medicines for serious diseases. Its research focuses on adeno-associated virus (AAV) gene therapies, which use engineered viral vectors to deliver therapeutic genetic material to cells. The company's proprietary Therapeutic Vector Evolution platform is designed to create AAV vectors with targeted properties, including the ability to reach specific tissues. Its investigational programs have included treatments for retinal diseases, cystic fibrosis and Fabry disease.

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