4D Molecular Therapeutics (NASDAQ:FDMT) Given “Buy” Rating at The Goldman Sachs Group

The Goldman Sachs Group reiterated their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMTFree Report) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $81.00 price objective on the stock.

Several other research firms have also commented on FDMT. Royal Bank of Canada upped their price target on shares of 4D Molecular Therapeutics from $25.00 to $35.00 and gave the company an outperform rating in a research report on Monday, February 5th. BMO Capital Markets upped their price target on shares of 4D Molecular Therapeutics from $50.00 to $70.00 and gave the company an outperform rating in a research report on Monday, February 5th. Cantor Fitzgerald assumed coverage on shares of 4D Molecular Therapeutics in a research report on Tuesday, October 24th. They set an overweight rating and a $32.00 price target for the company. SVB Leerink raised shares of 4D Molecular Therapeutics from a market perform rating to an outperform rating and set a $24.00 price target for the company in a research report on Wednesday, October 18th. Finally, Leerink Partnrs raised shares of 4D Molecular Therapeutics from a market perform rating to an outperform rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $39.44.

View Our Latest Research Report on 4D Molecular Therapeutics

4D Molecular Therapeutics Stock Performance

FDMT opened at $28.63 on Wednesday. The stock has a market capitalization of $1.22 billion, a P/E ratio of -10.49 and a beta of 2.63. The company’s 50-day simple moving average is $19.40 and its two-hundred day simple moving average is $15.77. 4D Molecular Therapeutics has a 52-week low of $9.44 and a 52-week high of $35.61.

4D Molecular Therapeutics (NASDAQ:FDMTGet Free Report) last posted its earnings results on Thursday, November 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.43. The business had revenue of $20.20 million for the quarter, compared to analysts’ expectations of $6.41 million. 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.73%. Research analysts forecast that 4D Molecular Therapeutics will post -2.52 EPS for the current fiscal year.

Insider Buying and Selling at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, CEO David Kirn sold 5,696 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total transaction of $104,863.36. Following the completion of the sale, the chief executive officer now directly owns 1,151,154 shares of the company’s stock, valued at approximately $21,192,745.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other 4D Molecular Therapeutics news, insider Robert Young Kim sold 24,552 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $30.05, for a total transaction of $737,787.60. Following the completion of the sale, the insider now directly owns 1,043 shares of the company’s stock, valued at approximately $31,342.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Kirn sold 5,696 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total transaction of $104,863.36. Following the sale, the chief executive officer now directly owns 1,151,154 shares of the company’s stock, valued at $21,192,745.14. The disclosure for this sale can be found here. Insiders sold a total of 610,980 shares of company stock valued at $12,216,118 in the last three months. 10.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently added to or reduced their stakes in FDMT. RA Capital Management L.P. bought a new position in shares of 4D Molecular Therapeutics during the 2nd quarter valued at approximately $55,466,000. VR Adviser LLC bought a new position in shares of 4D Molecular Therapeutics during the 2nd quarter valued at approximately $54,210,000. State Street Corp boosted its position in shares of 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 acquiring an additional 807,031 shares during the last quarter. Deep Track Capital LP boosted its position in shares of 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 acquiring an additional 500,000 shares during the last quarter. Finally, BlackRock Inc. boosted its position 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 valued at $52,664,000 after acquiring an additional 363,695 shares during the last quarter.

About 4D Molecular Therapeutics

(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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