4D Molecular Therapeutics (NASDAQ:FDMT) Shares Gap Down Following Weak Earnings

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s share price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $12.11, but opened at $11.62. 4D Molecular Therapeutics shares last traded at $12.0650, with a volume of 95,359 shares changing hands.

The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.03). The business had revenue of $4.14 million for the quarter, compared to analyst estimates of $4.13 million. 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%.

Wall Street Analyst Weigh In

Several research firms recently commented on FDMT. Chardan Capital decreased their price target on shares of 4D Molecular Therapeutics from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Cantor Fitzgerald raised shares of 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Monday, September 14th. The Goldman Sachs Group restated a “buy” rating and issued a $32.00 price target on shares of 4D Molecular Therapeutics in a report on Thursday, August 13th. B. Riley Financial reissued a “buy” rating on shares of 4D Molecular Therapeutics in a report on Monday, August 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research report on Thursday, October 15th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.22.

Insider Buying and Selling at 4D Molecular Therapeutics

In other 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 value of $753,662.36. Following the sale, the insider directly owned 709,153 shares in the company, valued at approximately $9,162,256.76. This trade represents a 7.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 122,155 shares of company stock worth $1,635,925. Company insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of FDMT. Jupiter Topco LLC purchased a new stake in 4D Molecular Therapeutics in the 2nd quarter worth about $76,466,000. BlackRock Inc. purchased a new position in shares of 4D Molecular Therapeutics during the 2nd quarter valued at about $60,463,000. Janus Henderson Group PLC raised its stake 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 worth $48,868,000 after buying an additional 611,276 shares during the period. Trails Edge Capital Partners LP purchased a new position in shares of 4D Molecular Therapeutics in the second quarter worth about $29,631,296. Finally, Bank of America Corp DE acquired a new position in shares of 4D Molecular Therapeutics in the 2nd quarter worth approximately $14,905,000. Institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Stock Performance

The firm has a 50 day moving average price of $13.19 and a 200-day moving average price of $11.05. The firm has a market capitalization of $664.92 million, a price-to-earnings ratio of -4.59 and a beta of 2.92. 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 Company Profile

4D Molecular Therapeutics, Inc. is a biotechnology company developing genetic medicines for serious diseases. Its research focuses on adeno-associated virus (AAV) gene therapies, which use engineered viral vectors to deliver therapeutic genetic material to cells. The company’s proprietary Therapeutic Vector Evolution platform is designed to create AAV vectors with targeted properties, including the ability to reach specific tissues. Its investigational programs have included treatments for retinal diseases, cystic fibrosis and Fabry disease.