4D Molecular Therapeutics (NASDAQ:FDMT) Stock Falls 6.4% - Here's Why

Key Points

• 4D Molecular Therapeutics shares fell 6.4% to about $12.79, with trading volume down 83% from the average daily level.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $29.00 target price, despite one sell rating.
• The company missed quarterly EPS expectations, reporting a $1.04 loss per share versus the projected $1.02 loss; insiders have also sold 134,570 shares over the past three months.

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report) shares were down 6.4% during trading on Monday. The company traded as low as $13.06 and last traded at $12.7930. 144,943 shares traded hands during trading, a decline of 83% from the average daily volume of 845,019 shares. The stock had previously closed at $13.67.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FDMT. HC Wainwright reiterated a "buy" rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Monday, July 20th. Chardan Capital upgraded shares of 4D Molecular Therapeutics to a "strong-buy" rating in a research report on Tuesday, July 28th. The Goldman Sachs Group reissued a "buy" rating and set a $32.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, August 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of 4D Molecular Therapeutics in a report on Friday, July 17th. Finally, B. Riley Financial reissued a "buy" rating on shares of 4D Molecular Therapeutics in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, 4D Molecular Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.

4D Molecular Therapeutics Trading Down 6.5%

The company has a market capitalization of $706.41 million, a PE ratio of -4.86 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. The business has a fifty day moving average price of $13.51 and a 200 day moving average price of $11.28.

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

Insider Activity at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, insider David Kirn sold 58,333 shares of 4D Molecular Therapeutics stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $13.90, for a total transaction of $810,828.70. Following the transaction, the insider directly owned 767,486 shares in the company, valued at approximately $10,668,055.40. The trade was a 7.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 134,570 shares of company stock valued at $1,743,197. 7.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. lifted 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 valued at $120,000 after acquiring an additional 1,050 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of 4D Molecular Therapeutics by 20.6% during the 2nd quarter. Headlands Technologies LLC now owns 19,238 shares of the company's stock worth $256,000 after buying an additional 3,282 shares during the last quarter. Legal & General Group Plc bought a new position in 4D Molecular Therapeutics in the 2nd quarter valued at approximately $59,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of 4D Molecular Therapeutics in the 2nd quarter worth approximately $148,000. Finally, The Manufacturers Life Insurance Company bought a new stake in 4D Molecular Therapeutics in the second quarter worth approximately $166,000. 99.27% of the stock is currently owned by hedge funds and other 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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