4D Molecular Therapeutics (NASDAQ:FDMT) Earns Outperform Rating from Leerink Partners

Leerink Partners reaffirmed their outperform rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a report issued on Thursday, Benzinga reports. The firm currently has a $36.00 price target on the stock, down from their prior price target of $40.00.

A number of other research firms also recently commented on FDMT. BMO Capital Markets reduced their target price 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. Royal Bank of Canada reiterated an outperform rating and set a $40.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Chardan Capital restated a buy rating and issued a $38.00 target price on shares of 4D Molecular Therapeutics in a research report on Wednesday, July 17th. HC Wainwright restated a buy rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Thursday. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of 4D Molecular Therapeutics in a research report on Monday, September 9th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $45.25.

4D Molecular Therapeutics Price Performance

Shares of NASDAQ:FDMT opened at $11.90 on Thursday. 4D Molecular Therapeutics has a 12 month low of $9.44 and a 12 month high of $36.25. The business has a 50-day moving average of $16.12 and a two-hundred day moving average of $22.59. The firm has a market capitalization of $615.27 million, a PE ratio of -4.88 and a beta of 2.80.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.09. The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $1.90 million. As a group, research analysts anticipate that 4D Molecular Therapeutics will post -2.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO David Kirn sold 12,930 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $23.10, for a total transaction of $298,683.00. Following the completion of the transaction, the chief executive officer now owns 1,059,153 shares of the company’s stock, valued at approximately $24,466,434.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Scott Bizily sold 4,248 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $21.36, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Kirn sold 12,930 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $23.10, for a total value of $298,683.00. Following the completion of the sale, the chief executive officer now owns 1,059,153 shares in the company, valued at $24,466,434.30. The disclosure for this sale can be found here. Insiders sold 34,347 shares of company stock valued at $785,566 over the last quarter. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. RA Capital Management L.P. lifted 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 buying an additional 888,300 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of 4D Molecular Therapeutics by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 3,197,444 shares of the company’s stock valued at $101,844,000 after purchasing an additional 104,148 shares during the period. Vanguard Group Inc. raised its stake in 4D Molecular Therapeutics by 25.3% during the 1st quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after buying an additional 473,094 shares during the period. Redmile Group LLC acquired a new stake in 4D Molecular Therapeutics during the 1st quarter worth $40,189,000. Finally, Goldman Sachs Group Inc. raised its stake in 4D Molecular Therapeutics by 415.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock worth $16,539,000 after buying an additional 658,069 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

About 4D Molecular Therapeutics

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.