Cantor Fitzgerald Reiterates Overweight Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

Cantor Fitzgerald reaffirmed their overweight rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note published on Monday morning, Benzinga reports.

Several other analysts have also commented on the company. BMO Capital Markets dropped their price objective on 4D Molecular Therapeutics from $63.00 to $40.00 and set an outperform rating on the stock in a report on Thursday, July 18th. Chardan Capital reissued a buy rating and issued a $38.00 price target on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. Royal Bank of Canada restated an outperform rating and set a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Finally, HC Wainwright reiterated a buy rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Friday, August 9th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, 4D Molecular Therapeutics has an average rating of Buy and a consensus price target of $43.63.

4D Molecular Therapeutics Price Performance

FDMT opened at $15.91 on Monday. The firm has a fifty day moving average price of $17.12 and a 200 day moving average price of $23.15. 4D Molecular Therapeutics has a 1 year low of $9.44 and a 1 year high of $36.25. The stock has a market cap of $822.59 million, a P/E ratio of -6.52 and a beta of 2.81.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.09. The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $1.90 million. Equities analysts expect that 4D Molecular Therapeutics will post -2.75 EPS for the current year.

Insider Transactions at 4D Molecular Therapeutics

In related news, insider Scott Bizily sold 1,750 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $27.11, for a total transaction of $47,442.50. Following the completion of the sale, the insider now owns 6,781 shares of the company’s stock, valued at approximately $183,832.91. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.11, for a total transaction of $47,442.50. Following the transaction, the insider now directly owns 6,781 shares in the company, valued at approximately $183,832.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David Kirn sold 12,923 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $22.49, for a total value of $290,638.27. Following the completion of the sale, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at $23,820,350.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,847 shares of company stock valued at $777,401. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in 4D Molecular Therapeutics by 702.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after purchasing an additional 3,026 shares during the last quarter. Quest Partners LLC increased its holdings in shares of 4D Molecular Therapeutics by 17,409.1% during the 2nd quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock worth $121,000 after buying an additional 5,745 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of 4D Molecular Therapeutics during the 1st quarter valued at approximately $239,000. China Universal Asset Management Co. Ltd. lifted its holdings in 4D Molecular Therapeutics by 93.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,579 shares of the company’s stock valued at $305,000 after acquiring an additional 4,628 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new position in 4D Molecular Therapeutics in the first quarter worth approximately $344,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

4D Molecular Therapeutics Company Profile

4D Molecular Therapeutics, Inc, a clinical-stage biotherapeutics company, develops genetic medicines using its therapeutic vector evolution platform in the Netherland and the United States. The company develops a portfolio of genetic medicine product candidates focuses in three therapeutic areas for ophthalmology, cardiology, and pulmonology.