4D Molecular Therapeutics (NASDAQ:FDMT) Sees Large Volume Increase – Here’s What Happened

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) shares saw strong trading volume on Friday . 2,782,783 shares traded hands during mid-day trading, an increase of 269% from the previous session’s volume of 753,612 shares.The stock last traded at $9.7830 and had previously closed at $8.97.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Monday, April 20th. The Goldman Sachs Group set a $33.00 price objective on shares of 4D Molecular Therapeutics in a research report on Friday, May 8th. Wall Street Zen cut shares of 4D Molecular Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Chardan Capital reiterated a “buy” rating and set a $26.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday, March 19th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $21.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a research report on Monday, March 30th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, 4D Molecular Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $29.88.

4D Molecular Therapeutics Trading Up 9.3%

The stock has a market capitalization of $512.34 million, a PE ratio of -3.79 and a beta of 2.77. The firm’s 50-day simple moving average is $9.48 and its two-hundred day simple moving average is $9.29.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.04). 4D Molecular Therapeutics had a negative return on equity of 36.83% and a negative net margin of 182.34%.The firm had revenue of $3.05 million for the quarter, compared to analysts’ expectations of $2.59 million. As a group, research analysts expect that 4D Molecular Therapeutics, Inc. will post -3.74 earnings per share for the current year.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in shares of 4D Molecular Therapeutics by 17.0% during the 1st quarter. Bank of America Corp DE now owns 974,173 shares of the company’s stock valued at $9,070,000 after acquiring an additional 141,582 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of 4D Molecular Therapeutics by 13.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,247,151 shares of the company’s stock valued at $48,868,000 after acquiring an additional 611,276 shares in the last quarter. Exome Asset Management LLC purchased a new position in shares of 4D Molecular Therapeutics during the 1st quarter valued at $1,216,000. Renaissance Technologies LLC grew its holdings in shares of 4D Molecular Therapeutics by 12.7% during the 1st quarter. Renaissance Technologies LLC now owns 578,265 shares of the company’s stock valued at $5,384,000 after acquiring an additional 65,365 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of 4D Molecular Therapeutics by 8.9% during 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. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

About 4D Molecular Therapeutics

4D Molecular Therapeutics, founded in 2015 and headquartered in Emeryville, California, is a clinical-stage biotechnology company focused on the development of targeted gene therapies for rare diseases. The company employs its proprietary Gene Expression AAV (GEA) platform to engineer novel adeno-associated virus (AAV) capsids with enhanced tissue selectivity and transduction efficiency. This platform aims to improve the precision and durability of gene delivery compared to traditional AAV approaches.

4D’s pipeline includes both preclinical and clinical-stage programs across multiple therapeutic areas.