Chardan Capital Cuts 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $25.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price lowered by Chardan Capital from $26.00 to $25.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Bank of America increased their price target on shares of 4D Molecular Therapeutics from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, September 29th. Cantor Fitzgerald raised shares of 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Monday, September 14th. HC Wainwright restated a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a report on Monday, July 20th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $32.00 target price on shares of 4D Molecular Therapeutics in a research note on Thursday, August 13th. Finally, B. Riley Financial reiterated a “buy” rating on shares of 4D Molecular Therapeutics in a report on Monday, August 17th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.90.

4D Molecular Therapeutics Trading Up 0.9%

NASDAQ FDMT opened at $12.70 on Tuesday. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.05. 4D Molecular Therapeutics has a twelve month low of $6.96 and a twelve month high of $16.93. The firm has a market capitalization of $701.55 million, a PE ratio of -4.83 and a beta of 2.75. The stock’s 50 day moving average is $13.72 and its 200 day moving average is $11.39.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data 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). The firm had revenue of $3.78 million during the quarter, compared to the consensus estimate of $3.62 million. 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%. Research analysts forecast that 4D Molecular Therapeutics will post -4.07 earnings per share for the current fiscal year.

Insider Activity

In other news, insider David Kirn sold 58,333 shares of 4D Molecular Therapeutics stock in a transaction dated 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 transaction, the insider owned 709,153 shares of the company’s stock, valued at $9,162,256.76. The trade was a 7.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 134,570 shares of company stock valued at $1,759,323. 7.90% of the stock is owned by insiders.

Institutional Trading of 4D Molecular Therapeutics

Several institutional investors have recently bought and sold shares of FDMT. Jupiter Topco LLC bought a new position in shares of 4D Molecular Therapeutics in the second quarter worth approximately $76,466,000. Janus Henderson Group PLC increased its position in shares of 4D Molecular Therapeutics by 13.2% during the first 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. BlackRock Inc. bought a new stake in shares of 4D Molecular Therapeutics during the second quarter valued at approximately $60,463,000. Trails Edge Capital Partners LP bought a new stake in shares of 4D Molecular Therapeutics during the second quarter valued at approximately $29,631,296. Finally, Armistice Capital LLC raised its holdings in 4D Molecular Therapeutics by 76.6% in the 4th quarter. Armistice Capital LLC now owns 1,936,000 shares of the company’s stock worth $14,520,000 after acquiring an additional 840,000 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.