4D Molecular Therapeutics (NASDAQ:FDMT) Shares Up 7.3% - What's Next?

Key Points

• 4D Molecular Therapeutics shares rose 7.3% to about $13.63, although trading volume was 68% below the average session volume.
• Analysts maintain a generally positive outlook, with 10 Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with an average price target of $28.90.
• The company remains unprofitable, reporting a quarterly loss of $1.04 per share versus the expected $1.02 loss, while insiders sold approximately $1.76 million in stock over the past quarter.

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report)'s share price traded up 7.3% during trading on Friday. The company traded as high as $13.56 and last traded at $13.6280. 277,230 shares traded hands during trading, a decline of 68% from the average session volume of 853,482 shares. The stock had previously closed at $12.70.

Analysts Set New Price Targets

A number of brokerages have issued reports on FDMT. The Goldman Sachs Group restated a "buy" rating and set a $32.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday, August 13th. Weiss Ratings restated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a research report on Friday, July 17th. HC Wainwright reiterated a "buy" rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 20th. B. Riley Financial restated a "buy" rating on shares of 4D Molecular Therapeutics in a research note on Monday, August 17th. Finally, Bank of America raised their price target on 4D Molecular Therapeutics from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, September 29th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, 4D Molecular Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $28.90.

4D Molecular Therapeutics Price Performance

The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.05. The company's 50 day moving average is $13.72 and its 200 day moving average is $11.39. The stock has a market capitalization of $751.82 million, a price-to-earnings ratio of -5.16 and a beta of 2.75.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.02). 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%.The business had revenue of $3.78 million during the quarter, compared to analyst estimates of $3.62 million. Research analysts anticipate that 4D Molecular Therapeutics, Inc. will post -4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider David Kirn sold 58,333 shares of the business'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 sale, the insider owned 709,153 shares of the company's stock, valued at approximately $9,162,256.76. The trade was a 7.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 134,570 shares of company stock worth $1,759,323 over the last quarter. 7.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Hedge funds have recently bought and sold shares of the company. Toth Financial Advisory Corp bought a new stake in 4D Molecular Therapeutics during the third quarter worth $29,000. Opaleye Management Inc. lifted its holdings in shares of 4D Molecular Therapeutics by 197.8% during the second quarter. Opaleye Management Inc. now owns 334,437 shares of the company's stock worth $4,448,000 after purchasing an additional 222,146 shares during the period. Engineers Gate Manager LP lifted its position in shares of 4D Molecular Therapeutics by 132.0% in the 2nd quarter. Engineers Gate Manager LP now owns 68,206 shares of the company's stock worth $907,000 after purchasing an additional 38,806 shares during the period. AXQ Capital LP bought a new stake in shares of 4D Molecular Therapeutics during the 2nd quarter valued at about $186,000. Finally, Headlands Technologies LLC increased its position in 4D Molecular Therapeutics by 20.6% in the 2nd quarter. Headlands Technologies LLC now owns 19,238 shares of the company's stock valued at $256,000 after buying an additional 3,282 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

About 4D Molecular Therapeutics

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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