4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price Down 5.4%

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s stock price dropped 5.4% during trading on Monday . The company traded as low as $17.31 and last traded at $17.36. Approximately 78,793 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 954,341 shares. The stock had previously closed at $18.35.

Analyst Ratings Changes

FDMT has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted 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 report on Monday, April 1st. Chardan Capital restated a “buy” rating and issued a $38.00 price target on shares of 4D Molecular Therapeutics in a research report on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 price target on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. HC Wainwright restated a “buy” rating and issued a $36.00 price target on shares of 4D Molecular Therapeutics in a research report on Friday, June 7th. Finally, BMO Capital Markets reduced their price target on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, July 18th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $43.63.

4D Molecular Therapeutics Price Performance

The company has a market capitalization of $885.10 million, a P/E ratio of -6.96 and a beta of 2.84. The stock’s 50 day simple moving average is $22.60 and its two-hundred day simple moving average is $24.92.

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

Insider Buying and Selling

In related news, insider Scott Bizily sold 1,750 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $25.45, for a total transaction of $44,537.50. Following the completion of the sale, the insider now directly owns 1,737 shares of the company’s stock, valued at $44,206.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other 4D Molecular Therapeutics news, insider Scott Bizily sold 1,750 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $25.45, for a total value of $44,537.50. Following the completion of the sale, the insider now owns 1,737 shares of the company’s stock, valued at $44,206.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 transaction of $298,683.00. Following the completion of the sale, the chief executive officer now directly owns 1,059,153 shares of the company’s stock, valued at approximately $24,466,434.30. The disclosure for this sale can be found here. Insiders sold a total of 35,597 shares of company stock valued at $821,939 over the last ninety days. Insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On 4D Molecular Therapeutics

Several large investors have recently bought and sold shares of the company. Panagora Asset Management Inc. increased its stake in 4D Molecular Therapeutics by 247.7% in the second quarter. Panagora Asset Management Inc. now owns 354,857 shares of the company’s stock valued at $7,448,000 after purchasing an additional 252,789 shares in the last quarter. Bank of New York Mellon Corp increased its stake in 4D Molecular Therapeutics by 28.9% in the second quarter. Bank of New York Mellon Corp now owns 169,413 shares of the company’s stock valued at $3,556,000 after purchasing an additional 38,015 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of 4D Molecular Therapeutics by 5,735.7% in the second quarter. Nisa Investment Advisors LLC now owns 96,698 shares of the company’s stock valued at $2,030,000 after buying an additional 95,041 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of 4D Molecular Therapeutics by 6.0% in the second quarter. Assenagon Asset Management S.A. now owns 456,267 shares of the company’s stock valued at $9,577,000 after buying an additional 25,711 shares during the period. Finally, Opaleye Management Inc. boosted its holdings in shares of 4D Molecular Therapeutics by 11.5% in the first quarter. Opaleye Management Inc. now owns 344,123 shares of the company’s stock valued at $10,964,000 after buying an additional 35,623 shares during the period. Institutional investors own 99.27% of the company’s stock.

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.