Equities Analysts Offer Predictions for 4D Molecular Therapeutics, Inc.’s FY2024 Earnings (NASDAQ:FDMT)

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) – Equities researchers at Cantor Fitzgerald issued their FY2024 earnings estimates for shares of 4D Molecular Therapeutics in a research report issued on Monday, September 23rd. Cantor Fitzgerald analyst J. Schimmer forecasts that the company will earn ($2.68) per share for the year. Cantor Fitzgerald currently has a “Neutral” rating on the stock. The consensus estimate for 4D Molecular Therapeutics’ current full-year earnings is ($2.75) per share.

FDMT has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of 4D Molecular Therapeutics in a report on Monday, July 22nd. HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. BMO Capital Markets lowered their price objective on shares of 4D Molecular Therapeutics from $63.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Leerink Partners reiterated an “outperform” rating and set a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a research report on Thursday, September 19th. Finally, Chardan Capital upped their price objective on shares of 4D Molecular Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $45.25.

4D Molecular Therapeutics Trading Down 2.8 %

Shares of 4D Molecular Therapeutics stock opened at $10.96 on Wednesday. The company has a 50 day moving average of $15.28 and a 200-day moving average of $22.11. 4D Molecular Therapeutics has a 1-year low of $9.44 and a 1-year high of $36.25. The company has a market cap of $569.59 million, a PE ratio of -4.49 and a beta of 2.80.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.09. The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $1.90 million.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDMT. Goldman Sachs Group Inc. increased its position in shares of 4D Molecular Therapeutics by 415.8% during the fourth 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. Sectoral Asset Management Inc. acquired a new stake in shares of 4D Molecular Therapeutics during the fourth quarter worth $2,887,000. Entropy Technologies LP acquired a new stake in shares of 4D Molecular Therapeutics during the first quarter worth $239,000. Kennedy Capital Management LLC acquired a new stake in shares of 4D Molecular Therapeutics during the first quarter worth $4,358,000. Finally, Sofinnova Investments Inc. increased its position in shares of 4D Molecular Therapeutics by 36.8% during the second quarter. Sofinnova Investments Inc. now owns 271,155 shares of the company’s stock worth $5,692,000 after buying an additional 72,969 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 4,248 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.36, for a total value of $90,737.28. Following the completion of the transaction, the insider now directly owns 1,737 shares in the company, valued at approximately $37,102.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other 4D Molecular Therapeutics news, CEO David Kirn sold 12,923 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $22.49, for a total value of $290,638.27. Following the completion of the transaction, the chief executive officer now directly owns 1,059,153 shares in the company, valued at approximately $23,820,350.97. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Scott Bizily sold 4,248 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.36, for a total transaction of $90,737.28. Following the completion of the transaction, the insider now owns 1,737 shares of the company’s stock, valued at $37,102.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,417 shares of company stock worth $486,883. 7.30% of the stock is currently owned by company insiders.

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.