4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price Up 7.3% After Analyst Upgrade

Key Points

• 4D Molecular Therapeutics shares rose 7.3% after Cantor Fitzgerald upgraded the stock to “overweight” and set a $20 price target. The stock closed at $14.135, while analysts’ consensus rating was “Moderate Buy” with an average target of $28.56.
• Analyst sentiment is broadly positive, with one Strong Buy, eight Buy, one Hold, and one Sell rating. However, insiders sold 199,158 shares worth approximately $2.23 million over the past quarter.
• The clinical-stage biotechnology company reported a quarterly loss of $1.04 per share, slightly worse than estimates, despite revenue of $3.78 million exceeding expectations. Analysts expect a full-year loss of $4.09 per share.

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report) shares shot up 7.3% on Monday after Cantor Fitzgerald upgraded the stock from a neutral rating to an overweight rating. Cantor Fitzgerald now has a $20.00 price target on the stock. 4D Molecular Therapeutics traded as high as $14.19 and last traded at $14.1350. 395,104 shares changed hands during trading, a decline of 52% from the average session volume of 823,560 shares. The stock had previously closed at $13.17.

Several other research analysts have also recently weighed in on the company. Chardan Capital raised 4D Molecular Therapeutics to a "strong-buy" rating in a research report on Tuesday, July 28th. The Goldman Sachs Group reiterated 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 research note on Friday, July 17th. B. Riley Financial reissued a "buy" rating on shares of 4D Molecular Therapeutics in a report on Monday, August 17th. Finally, HC Wainwright reissued a "buy" rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $28.56.

Insider Activity at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 9,810 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $12.00, for a total value of $117,720.00. Following the transaction, the insider owned 8,617 shares of the company's stock, valued at approximately $103,404. This represents a 53.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Kirn sold 12,415 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $10.05, for a total value of $124,770.75. Following the completion of the sale, the insider owned 871,737 shares in the company, valued at $8,760,956.85. This trade represents a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 199,158 shares of company stock worth $2,229,161 over the last quarter. Corporate insiders own 7.90% of the company's stock.

Institutional Trading of 4D Molecular Therapeutics

A number of large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new stake in 4D Molecular Therapeutics during the first quarter valued at approximately $39,000. Wexford Capital LP purchased a new position in shares of 4D Molecular Therapeutics in the 3rd quarter worth about $41,000. AQR Capital Management LLC bought a new position in shares of 4D Molecular Therapeutics during the 1st quarter valued at about $46,000. Daiwa Securities Group Inc. increased its position in shares of 4D Molecular Therapeutics by 3,362.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,370 shares of the company's stock valued at $48,000 after purchasing an additional 6,186 shares during the last quarter. Finally, Rangeley Capital LLC purchased a new position in shares of 4D Molecular Therapeutics during the 2nd quarter valued at about $48,000. Institutional investors own 99.27% of the company's stock.

4D Molecular Therapeutics Trading Up 6.6%

The stock has a fifty day moving average of $12.64 and a two-hundred day moving average of $10.70. The company has a market capitalization of $775.29 million, a PE ratio of -5.32 and a beta of 2.74. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.05.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last released 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). 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 the consensus estimate of $3.62 million. As a group, sell-side analysts anticipate that 4D Molecular Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

About 4D Molecular Therapeutics

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company developing genetic medicines for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to engineer and select adeno-associated virus (AAV) vectors designed to deliver genetic payloads to specific tissues and support the development of potentially durable, one-time treatments.

Its research and development programs have focused primarily on ophthalmic and pulmonary diseases.

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