4D Molecular Therapeutics (NASDAQ:FDMT) Trading 7% Higher

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s share price rose 7% on Tuesday . The stock traded as high as $18.30 and last traded at $18.28. Approximately 1,377,409 shares traded hands during mid-day trading, an increase of 45% from the average daily volume of 949,522 shares. The stock had previously closed at $17.08.

Analyst Upgrades and Downgrades

Several research firms recently commented on FDMT. HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Friday, June 7th. Barclays initiated coverage on shares of 4D Molecular Therapeutics in a report on Monday, April 15th. They issued an “overweight” rating on the stock. Chardan Capital reissued a “buy” rating and issued a $38.00 target price on shares of 4D Molecular Therapeutics in a research note on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Monday. Finally, BMO Capital Markets reduced their price target on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, July 18th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, 4D Molecular Therapeutics currently has an average rating of “Buy” and an average target price of $43.63.

4D Molecular Therapeutics Trading Up 3.2 %

The company has a market capitalization of $957.48 million, a P/E ratio of -7.59 and a beta of 2.83. The stock’s fifty day moving average is $22.74 and its 200 day moving average is $24.86.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.07. The firm had revenue of $0.03 million for the quarter, compared to the consensus estimate of $1.44 million. On average, analysts expect that 4D Molecular Therapeutics, Inc. will post -2.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $25.45, for a total transaction of $44,537.50. Following the completion of the transaction, the insider now owns 1,737 shares in the company, valued at approximately $44,206.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Scott Bizily sold 1,750 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $25.45, for a total value of $44,537.50. Following the transaction, the insider now owns 1,737 shares of the company’s stock, valued at approximately $44,206.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Kirn sold 12,930 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $23.10, for a total transaction of $298,683.00. Following the completion of the sale, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at $24,466,434.30. The disclosure for this sale can be found here. Insiders sold a total of 35,597 shares of company stock valued at $821,939 over the last 90 days. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FDMT. Nisa Investment Advisors LLC lifted its holdings in shares of 4D Molecular Therapeutics by 5,735.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 96,698 shares of the company’s stock worth $2,030,000 after buying an additional 95,041 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of 4D Molecular Therapeutics by 6.0% in the second quarter. Assenagon Asset Management S.A. now owns 456,267 shares of the company’s stock valued at $9,577,000 after acquiring an additional 25,711 shares in the last quarter. Opaleye Management Inc. lifted its stake in 4D Molecular Therapeutics by 11.5% in the first quarter. Opaleye Management Inc. now owns 344,123 shares of the company’s stock worth $10,964,000 after acquiring an additional 35,623 shares during the period. RA Capital Management L.P. grew its holdings in 4D Molecular Therapeutics by 21.3% during the 1st quarter. RA Capital Management L.P. now owns 5,051,511 shares of the company’s stock worth $160,941,000 after acquiring an additional 888,300 shares in the last quarter. Finally, Zimmer Partners LP purchased a new position in 4D Molecular Therapeutics during the 1st quarter valued at about $4,422,000. 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.