Redmile Group LLC Takes Position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)

Redmile Group LLC bought a new position in 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) in the first quarter, according to its most recent filing with the SEC. The firm bought 1,261,427 shares of the company’s stock, valued at approximately $40,189,000. 4D Molecular Therapeutics makes up 1.5% of Redmile Group LLC’s investment portfolio, making the stock its 25th largest position.

Several other large investors also recently bought and sold shares of FDMT. Bfsg LLC purchased a new position in shares of 4D Molecular Therapeutics in the fourth quarter worth $30,000. Allspring Global Investments Holdings LLC raised its stake in 4D Molecular Therapeutics by 702.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company’s stock worth $110,000 after acquiring an additional 3,026 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in 4D Molecular Therapeutics by 359.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,951 shares of the company’s stock worth $100,000 after acquiring an additional 3,873 shares during the period. Daiwa Securities Group Inc. lifted its position in 4D Molecular Therapeutics by 23.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock worth $119,000 after acquiring an additional 1,110 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of 4D Molecular Therapeutics in the first quarter valued at about $239,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BMO Capital Markets decreased their target price on 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Chardan Capital reaffirmed a “buy” rating and issued a $38.00 price objective on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. Jefferies Financial Group increased their price objective on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Barclays began coverage on shares of 4D Molecular Therapeutics in a research report on Monday, April 15th. They set an “overweight” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price objective on shares of 4D Molecular Therapeutics in a report on Monday, July 22nd. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $43.63.

Insider Buying and Selling

In related news, CEO David Kirn sold 12,930 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $23.10, for a total value of $298,683.00. Following the transaction, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at approximately $24,466,434.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO David Kirn sold 12,930 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $23.10, for a total value of $298,683.00. Following the completion of the transaction, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at approximately $24,466,434.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott Bizily sold 4,248 shares of 4D Molecular Therapeutics stock in a transaction on Monday, July 1st. The stock was sold at an average price of $21.36, for a total transaction of $90,737.28. Following the sale, the insider now directly owns 1,737 shares in the company, valued at approximately $37,102.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,597 shares of company stock valued at $821,939. 7.30% of the stock is owned by corporate insiders.

4D Molecular Therapeutics Stock Performance

Shares of 4D Molecular Therapeutics stock traded down $1.23 on Monday, hitting $17.12. The company’s stock had a trading volume of 509,249 shares, compared to its average volume of 957,330. The company has a market capitalization of $885.10 million, a price-to-earnings ratio of -7.02 and a beta of 2.84. 4D Molecular Therapeutics, Inc. has a 1 year low of $9.44 and a 1 year high of $36.25. The firm has a fifty day moving average price of $22.42 and a 200-day moving average price of $24.91.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.07. The business had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $1.44 million. As a group, analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.98 EPS for the current year.

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.