4D Molecular Therapeutics’ (FDMT) Buy Rating Reiterated at HC Wainwright

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They presently have a $36.00 price objective on the stock. HC Wainwright‘s target price would indicate a potential upside of 188.69% from the stock’s current price.

FDMT has been the topic of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Thursday, October 15th. Chardan Capital decreased their target price on 4D Molecular Therapeutics from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Bank of America lifted their target price on 4D Molecular Therapeutics from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, September 29th. Cantor Fitzgerald raised 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Monday, September 14th. Finally, B. Riley Financial reissued a “buy” rating on shares of 4D Molecular Therapeutics in a research report on Monday, August 17th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, 4D Molecular Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $28.90.

4D Molecular Therapeutics Stock Performance

FDMT stock traded down $0.15 on Thursday, reaching $12.47. 224,840 shares of the company were exchanged, compared to its average volume of 857,211. 4D Molecular Therapeutics has a 12 month low of $6.96 and a 12 month high of $16.93. The stock’s fifty day moving average price is $14.07 and its 200 day moving average price is $11.60. The firm has a market capitalization of $688.84 million, a PE ratio of -4.72 and a beta of 2.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 8.03 and a quick ratio of 8.03.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its earnings results on Thursday, August 13th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.02). 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%. The firm had revenue of $3.78 million for the quarter, compared to analyst estimates of $3.62 million. On average, research analysts anticipate that 4D Molecular Therapeutics will post -4.14 EPS for the current fiscal year.

Insider Activity

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, October 5th. The stock was sold at an average price of $12.92, for a total transaction of $753,662.36. Following the sale, the insider directly owned 709,153 shares of the company’s stock, valued at approximately $9,162,256.76. The trade was a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 136,205 shares of company stock valued at $1,780,316. Corporate insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently added to or reduced their stakes in FDMT. Jupiter Topco LLC acquired a new stake in 4D Molecular Therapeutics during the second quarter valued at approximately $76,466,000. BlackRock Inc. bought a new stake in shares of 4D Molecular Therapeutics in the 2nd quarter worth about $60,463,000. Trails Edge Capital Partners LP bought a new stake in shares of 4D Molecular Therapeutics in the 2nd quarter worth about $29,631,296. Bank of America Corp DE bought a new stake in shares of 4D Molecular Therapeutics in the 2nd quarter worth about $14,905,000. Finally, Parkman Healthcare Partners LLC bought a new stake in shares of 4D Molecular Therapeutics in the 2nd quarter worth about $12,611,000. 99.27% of the stock is owned by institutional investors and hedge funds.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases with significant unmet medical needs. The company uses its Therapeutic Vector Evolution platform to design adeno-associated virus (AAV) vectors intended to deliver genetic medicines to specific tissues and organs.

Its pipeline has focused primarily on ophthalmology and pulmonology. Key investigational programs have included 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema, and 4D-710, an inhaled gene therapy designed to address the underlying cause of cystic fibrosis in patients who cannot benefit from existing CFTR modulator treatments.