Royal Bank of Canada Reiterates Outperform Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

Royal Bank of Canada restated their outperform rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note issued to investors on Monday, Benzinga reports. They currently have a $40.00 target price on the stock.

Several other research firms have also recently issued reports on FDMT. Barclays began coverage on 4D Molecular Therapeutics in a report on Monday, April 15th. They issued an overweight rating on the stock. HC Wainwright reaffirmed a buy rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Friday, June 7th. Jefferies Financial Group upped their price target on 4D Molecular Therapeutics from $30.00 to $58.00 and gave the company a buy rating in a report on Monday, April 1st. BMO Capital Markets dropped their price target 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. Finally, Chardan Capital reaffirmed a buy rating and issued a $38.00 price target on shares of 4D Molecular Therapeutics in a report on Wednesday, July 17th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $43.63.

4D Molecular Therapeutics Price Performance

Shares of NASDAQ:FDMT opened at $18.52 on Monday. 4D Molecular Therapeutics has a 12 month low of $9.44 and a 12 month high of $36.25. The stock has a market cap of $957.48 million, a price-to-earnings ratio of -7.59 and a beta of 2.83. The stock’s 50 day moving average price is $22.74 and its 200 day moving average price is $24.86.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its earnings results on Thursday, May 9th. The company reported ($0.66) EPS for the quarter, topping 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, sell-side analysts expect that 4D Molecular Therapeutics will post -2.98 EPS for the current year.

Insider Activity

In other news, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $27.11, for a total transaction of $47,442.50. Following the transaction, the insider now directly owns 6,781 shares in the company, valued at approximately $183,832.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO David Kirn sold 12,930 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $23.10, for a total transaction of $298,683.00. Following the transaction, the chief executive officer now directly owns 1,059,153 shares in the company, valued at approximately $24,466,434.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $27.11, for a total transaction of $47,442.50. Following the transaction, the insider now owns 6,781 shares in the company, valued at $183,832.91. The disclosure for this sale can be found here. Insiders have sold a total of 35,597 shares of company stock worth $821,939 in the last ninety days. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of FDMT. Goldman Sachs Group Inc. lifted its stake in shares of 4D Molecular Therapeutics by 415.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 816,343 shares of the company’s stock valued at $16,539,000 after purchasing an additional 658,069 shares during the last quarter. Sectoral Asset Management Inc. acquired a new stake in shares of 4D Molecular Therapeutics in the 4th quarter valued at $2,887,000. Entropy Technologies LP acquired a new stake in shares of 4D Molecular Therapeutics in the 1st quarter valued at $239,000. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 valued at $110,000 after purchasing an additional 3,026 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of 4D Molecular Therapeutics by 29.9% in the 1st quarter. Swiss National Bank now owns 53,900 shares of the company’s stock valued at $1,717,000 after purchasing an additional 12,400 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

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.