4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Sees Significant Increase in Short Interest

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 9,320,000 shares, a growth of 9.6% from the March 15th total of 8,500,000 shares. Based on an average trading volume of 1,170,000 shares, the days-to-cover ratio is currently 8.0 days.

4D Molecular Therapeutics Stock Down 2.4 %

4D Molecular Therapeutics stock traded down $0.65 during mid-day trading on Wednesday, reaching $26.10. 62,053 shares of the company’s stock traded hands, compared to its average volume of 1,080,681. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -10.06 and a beta of 2.87. The stock has a 50 day moving average of $29.07 and a two-hundred day moving average of $20.06. 4D Molecular Therapeutics has a 12-month low of $9.44 and a 12-month high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.09). 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.14%. The business had revenue of ($0.02) million for the quarter, compared to analysts’ expectations of $4.67 million. As a group, sell-side analysts forecast that 4D Molecular Therapeutics will post -3.03 earnings per share for the current year.

Insider Transactions at 4D Molecular Therapeutics

In related news, CEO David Kirn sold 5,696 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total transaction of $104,863.36. Following the completion of the sale, the chief executive officer now directly owns 1,151,154 shares in the company, valued at $21,192,745.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David Kirn sold 5,696 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total transaction of $104,863.36. Following the completion of the sale, the chief executive officer now directly owns 1,151,154 shares in the company, valued at $21,192,745.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Bizily sold 8,153 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $31.78, for a total transaction of $259,102.34. Following the sale, the insider now owns 1,737 shares of the company’s stock, valued at $55,201.86. The disclosure for this sale can be found here. Insiders sold 147,888 shares of company stock worth $4,134,254 over the last three months. 10.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. RA Capital Management L.P. grew its holdings in shares of 4D Molecular Therapeutics by 35.6% in the third quarter. RA Capital Management L.P. now owns 4,163,211 shares of the company’s stock worth $52,998,000 after purchasing an additional 1,093,680 shares during the last quarter. State Street Corp grew its holdings in shares of 4D Molecular Therapeutics by 65.3% in the first quarter. State Street Corp now owns 2,042,189 shares of the company’s stock worth $35,105,000 after purchasing an additional 807,031 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 4D Molecular Therapeutics by 415.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock worth $16,539,000 after purchasing an additional 658,069 shares during the last quarter. BlackRock Inc. grew its holdings in shares of 4D Molecular Therapeutics by 14.3% in the second quarter. BlackRock Inc. now owns 2,914,430 shares of the company’s stock worth $52,664,000 after purchasing an additional 363,695 shares during the last quarter. Finally, Novo Holdings A S grew its holdings in shares of 4D Molecular Therapeutics by 25.0% in the fourth quarter. Novo Holdings A S now owns 1,500,000 shares of the company’s stock worth $30,390,000 after purchasing an additional 300,000 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

FDMT has been the topic of several analyst reports. Barclays initiated coverage on shares of 4D Molecular Therapeutics in a report on Monday. They set an “overweight” rating on the stock. Jefferies Financial Group lifted their price target on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a report on Monday, April 1st. BMO Capital Markets lowered their target price on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, April 1st. HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Friday, March 1st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $81.00 target price on shares of 4D Molecular Therapeutics in a report on Wednesday, February 7th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, 4D Molecular Therapeutics currently has a consensus rating of “Buy” and an average target price of $44.22.

About 4D Molecular Therapeutics

4D Molecular Therapeutics, Inc, a clinical-stage biotherapeutics company, develops genetic medicines using its therapeutic vector evolution platform in the Netherland and the United States. The company develops a portfolio of genetic medicine product candidates focuses in three therapeutic areas for ophthalmology, cardiology, and pulmonology.