4D Molecular Therapeutics (NASDAQ:FDMT) Price Target Raised to $35.00

4D Molecular Therapeutics (NASDAQ:FDMTGet Free Report) had its price objective lifted by research analysts at Royal Bank of Canada from $25.00 to $35.00 in a report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 3.31% from the company’s current price.

FDMT has been the topic of several other research reports. Cantor Fitzgerald started coverage on shares of 4D Molecular Therapeutics in a research note on Tuesday, October 24th. They set an “overweight” rating and a $32.00 price target on the stock. Leerink Partnrs raised 4D Molecular Therapeutics from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 18th. Finally, SVB Leerink raised 4D Molecular Therapeutics from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.14.

View Our Latest Report on FDMT

4D Molecular Therapeutics Price Performance

Shares of FDMT traded up $16.39 during trading hours on Monday, hitting $33.88. The stock had a trading volume of 8,444,918 shares, compared to its average volume of 736,644. The firm has a market capitalization of $1.45 billion, a PE ratio of -12.99 and a beta of 2.63. 4D Molecular Therapeutics has a 12 month low of $9.44 and a 12 month high of $35.61. The stock has a fifty day moving average price of $17.68 and a 200 day moving average price of $15.32.

4D Molecular Therapeutics (NASDAQ:FDMTGet Free Report) last released its quarterly earnings results on Thursday, November 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.43. 4D Molecular Therapeutics had a negative return on equity of 34.73% and a negative net margin of 436.30%. The business had revenue of $20.20 million during the quarter, compared to the consensus estimate of $6.41 million. As a group, analysts anticipate that 4D Molecular Therapeutics will post -2.54 EPS for the current fiscal year.

Insider Transactions at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, CEO David Kirn sold 40,732 shares of 4D Molecular Therapeutics stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $20.31, for a total value of $827,266.92. Following the sale, the chief executive officer now directly owns 1,185,087 shares in the company, valued at approximately $24,069,116.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other 4D Molecular Therapeutics news, CEO David Kirn sold 40,732 shares of 4D Molecular Therapeutics stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $20.31, for a total value of $827,266.92. Following the sale, the chief executive officer now owns 1,185,087 shares of the company’s stock, valued at approximately $24,069,116.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 540,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $19.53, for a total transaction of $10,546,200.00. Following the completion of the transaction, the insider now directly owns 4,247,914 shares of the company’s stock, valued at $82,961,760.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 586,428 shares of company stock valued at $11,478,330. 10.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FDMT. RA Capital Management L.P. bought a new stake in shares of 4D Molecular Therapeutics in the 2nd quarter valued at approximately $55,466,000. VR Adviser LLC purchased a new position in shares of 4D Molecular Therapeutics during the 2nd quarter worth about $54,210,000. State Street Corp grew its holdings in 4D Molecular Therapeutics by 65.3% during the 1st quarter. State Street Corp now owns 2,042,189 shares of the company’s stock valued at $35,105,000 after purchasing an additional 807,031 shares during the last quarter. Deep Track Capital LP grew its holdings in 4D Molecular Therapeutics by 21.9% during the 2nd quarter. Deep Track Capital LP now owns 2,778,107 shares of the company’s stock valued at $50,200,000 after purchasing an additional 500,000 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of 4D Molecular Therapeutics by 14.3% during the 2nd quarter. BlackRock Inc. now owns 2,914,430 shares of the company’s stock worth $52,664,000 after acquiring an additional 363,695 shares during the last quarter.

4D Molecular Therapeutics Company Profile

(Get Free Report)

4D Molecular Therapeutics, Inc, a clinical-stage biotherapeutics company, develops genetic medicines using its therapeutic vector evolution platform. It develops a portfolio of genetic medicine product candidates focuses in three therapeutic areas: ophthalmology, cardiology, and pulmonology. The company has product candidates that are in clinical trials, such as 4D-125 that is in a Phase 1/2 clinical trial for the treatment of X-linked retinitis pigmentosa; 4D-110 that is in a Phase 1/2 clinical trial for the treatment of choroideremia; and 4D-310, which is in a Phase 1/2 clinical trial for the treatment of Fabry disease cardiomyopathy.

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Analyst Recommendations for 4D Molecular Therapeutics (NASDAQ:FDMT)

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