4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Sees Large Increase in Short Interest

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 9,320,000 shares, a growth of 9.6% from the March 15th total of 8,500,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the short-interest ratio is currently 8.0 days.

Insider Buying and Selling at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, CEO David Kirn sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total value of $104,863.36. Following the sale, the chief executive officer now owns 1,151,154 shares in the company, valued at $21,192,745.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 4D Molecular Therapeutics news, CEO David Kirn sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total value of $104,863.36. Following the sale, the chief executive officer now owns 1,151,154 shares in the company, valued at $21,192,745.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Bizily sold 6,244 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $27.50, for a total transaction of $171,710.00. Following the transaction, the insider now directly owns 1,737 shares of the company’s stock, valued at approximately $47,767.50. The disclosure for this sale can be found here. Insiders have sold 147,888 shares of company stock worth $4,134,254 over the last quarter. Corporate insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bfsg LLC bought a new stake in 4D Molecular Therapeutics in the fourth quarter valued at $30,000. International Assets Investment Management LLC bought a new stake in 4D Molecular Therapeutics in the third quarter valued at $36,000. US Bancorp DE increased its stake in 4D Molecular Therapeutics by 580.7% in the fourth quarter. US Bancorp DE now owns 1,797 shares of the company’s stock valued at $36,000 after purchasing an additional 1,533 shares in the last quarter. Lazard Asset Management LLC increased its stake in 4D Molecular Therapeutics by 44.2% in the second quarter. Lazard Asset Management LLC now owns 2,190 shares of the company’s stock valued at $38,000 after purchasing an additional 671 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in 4D Molecular Therapeutics by 167.9% in the third quarter. Ensign Peak Advisors Inc now owns 7,180 shares of the company’s stock valued at $58,000 after purchasing an additional 4,500 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FDMT has been the subject of several analyst reports. BMO Capital Markets dropped their price target on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, April 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $81.00 price target on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a research note on Friday, March 1st. Barclays initiated coverage on shares of 4D Molecular Therapeutics in a research note on Monday. They set an “overweight” rating for the company. Finally, Jefferies Financial Group raised their price target on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Buy” and an average price target of $44.22.

4D Molecular Therapeutics Price Performance

NASDAQ FDMT traded down $1.02 during mid-day trading on Wednesday, reaching $25.73. 157,169 shares of the stock were exchanged, compared to its average volume of 1,082,152. 4D Molecular Therapeutics has a one year low of $9.44 and a one year high of $36.25. The stock has a 50 day simple moving average of $29.07 and a 200-day simple moving average of $20.06. The stock has a market cap of $1.32 billion, a P/E ratio of -9.64 and a beta of 2.87.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.09). 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.14%. The company had revenue of ($0.02) million during the quarter, compared to the consensus estimate of $4.67 million. Sell-side analysts anticipate that 4D Molecular Therapeutics will post -3.03 EPS for the current fiscal 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.