4D Molecular Therapeutics (NASDAQ:FDMT) Given “Buy” Rating at HC Wainwright

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report issued on Thursday, Marketbeat reports. They currently have a $36.00 price target on the stock. HC Wainwright‘s target price suggests a potential upside of 204.93% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group restated a “buy” rating and set a $32.00 price target on shares of 4D Molecular Therapeutics in a research report on Thursday, August 13th. B. Riley Financial reiterated a “buy” rating on shares of 4D Molecular Therapeutics in a report on Monday, August 17th. Bank of America lifted their price objective on 4D Molecular Therapeutics from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, September 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a research note on Thursday, October 15th. Finally, 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 note on Monday, September 14th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.90.

4D Molecular Therapeutics Price Performance

NASDAQ:FDMT traded down $0.81 during trading hours on Thursday, hitting $11.81. 827,231 shares of the company’s stock traded hands, compared to its average volume of 859,898. The firm has a market cap of $652.16 million, a P/E ratio of -4.48 and a beta of 2.75. 4D Molecular Therapeutics has a 52 week low of $6.96 and a 52 week high of $16.93. The business’s fifty day simple moving average is $14.07 and its two-hundred day simple moving average is $11.60. 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 (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 the consensus estimate of ($1.02) by ($0.02). 4D Molecular Therapeutics had a negative net margin of 194.74% and a negative return on equity of 41.33%. The business had revenue of $3.78 million for the quarter, compared to the consensus estimate of $3.62 million. On average, research analysts anticipate that 4D Molecular Therapeutics will post -4.14 earnings per share for the current fiscal year.

Insider Activity at 4D Molecular Therapeutics

In other news, insider David Kirn sold 58,333 shares of the business’s 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 of the company’s stock, valued at $9,162,256.76. The trade was a 7.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 136,205 shares of company stock valued at $1,780,316. Insiders own 7.90% of the company’s stock.

Institutional Trading of 4D Molecular Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Toth Financial Advisory Corp bought a new position in 4D Molecular Therapeutics in the 3rd quarter valued at approximately $29,000. Legal & General Group Plc bought a new position in shares of 4D Molecular Therapeutics during the 2nd quarter valued at $59,000. Sei Investments Co. lifted 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 buying an additional 1,050 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of 4D Molecular Therapeutics by 14,343.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 18,054 shares of the company’s stock valued at $135,000 after buying an additional 17,929 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of 4D Molecular Therapeutics in the 2nd quarter worth $148,000. 99.27% of the stock is owned by institutional investors.

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.