4D Molecular Therapeutics’ (FDMT) “Buy” Rating Reiterated at Chardan Capital

4D Molecular Therapeutics (NASDAQ:FDMT)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $38.00 price target on the stock. Chardan Capital’s price target suggests a potential upside of 111.94% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, April 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of 4D Molecular Therapeutics in a research report on Wednesday, June 26th. Jefferies Financial Group increased their target price on shares of 4D Molecular Therapeutics from $30.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, April 1st. HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of 4D Molecular Therapeutics in a report on Friday, June 7th. Finally, Barclays initiated coverage on shares of 4D Molecular Therapeutics in a report on Monday, April 15th. They issued an “overweight” rating for the company. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $46.50.

4D Molecular Therapeutics Stock Performance

Shares of FDMT stock traded down $8.82 on Wednesday, hitting $17.93. The company’s stock had a trading volume of 4,648,751 shares, compared to its average volume of 876,747. The stock’s 50 day moving average is $23.96 and its 200-day moving average is $25.08. 4D Molecular Therapeutics has a fifty-two week low of $9.44 and a fifty-two week high of $36.25. The company has a market capitalization of $926.98 million, a PE ratio of -7.09 and a beta of 2.83.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.07. The business had revenue of $0.03 million during the quarter, compared to analyst estimates of $1.44 million. On average, research analysts forecast that 4D Molecular Therapeutics will post -2.98 earnings per share for the current year.

Insider Buying and Selling at 4D Molecular Therapeutics

In other news, insider Scott Bizily sold 1,996 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $25.00, for a total transaction of $49,900.00. Following the completion of the sale, the insider now owns 6,781 shares of the company’s stock, valued at approximately $169,525. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Scott Bizily sold 1,996 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $25.00, for a total transaction of $49,900.00. Following the completion of the sale, the insider now owns 6,781 shares of the company’s stock, valued at approximately $169,525. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Kirn sold 12,923 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total transaction of $290,638.27. Following the sale, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at approximately $23,820,350.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,847 shares of company stock valued at $774,496. 7.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Large investors have recently modified their holdings of the company. Redmile Group LLC bought a new position in 4D Molecular Therapeutics during the 1st quarter valued at $40,189,000. RA Capital Management L.P. increased its holdings in 4D Molecular Therapeutics by 21.3% in 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 during the last quarter. Goldman Sachs Group Inc. increased its holdings in 4D Molecular Therapeutics by 415.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock worth $16,539,000 after acquiring an additional 658,069 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in 4D Molecular Therapeutics by 1,076.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 641,000 shares of the company’s stock worth $20,422,000 after acquiring an additional 586,500 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in 4D Molecular Therapeutics by 25.3% in the 1st quarter. Vanguard Group Inc. now owns 2,339,943 shares of the company’s stock worth $74,551,000 after acquiring an additional 473,094 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors.

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.