HC Wainwright Reaffirms Buy Rating for 4D Molecular Therapeutics (NASDAQ:FDMT)

HC Wainwright restated their buy rating on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research note published on Thursday, Benzinga reports. The firm currently has a $36.00 price target on the stock.

A number of other equities research analysts have also recently commented on the stock. Chardan Capital reiterated a buy rating and issued a $38.00 target price on shares of 4D Molecular Therapeutics in a research report on Wednesday, July 17th. Cantor Fitzgerald reiterated an overweight rating on shares of 4D Molecular Therapeutics in a research report on Monday, September 9th. Royal Bank of Canada reiterated an outperform rating and issued a $40.00 target price on shares of 4D Molecular Therapeutics in a research report on Monday, July 22nd. Finally, BMO Capital Markets dropped 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 report on Thursday, July 18th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, 4D Molecular Therapeutics has an average rating of Buy and a consensus price target of $45.25.

4D Molecular Therapeutics Stock Performance

NASDAQ:FDMT opened at $11.90 on Thursday. The company has a fifty day moving average of $16.12 and a two-hundred day moving average of $22.55. The stock has a market capitalization of $615.27 million, a PE ratio of -4.88 and a beta of 2.80. 4D Molecular Therapeutics has a fifty-two week low of $9.44 and a fifty-two week high of $36.25.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Thursday, August 8th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.09. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $1.90 million. Research analysts forecast that 4D Molecular Therapeutics will post -2.75 earnings per share for the current year.

Insiders Place Their Bets

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 4,248 shares of the stock in a transaction dated 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 sale 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 4,248 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Kirn sold 12,923 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $22.49, for a total transaction of $290,638.27. Following the transaction, 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. Insiders sold a total of 21,417 shares of company stock valued at $486,883 over the last 90 days. 7.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of 4D Molecular Therapeutics by 702.1% in the first 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 period. Quest Partners LLC boosted its stake in shares of 4D Molecular Therapeutics by 17,409.1% in the second quarter. Quest Partners LLC now owns 5,778 shares of the company’s stock valued at $121,000 after purchasing an additional 5,745 shares during the period. Entropy Technologies LP purchased a new position in shares of 4D Molecular Therapeutics in the first quarter valued at approximately $239,000. Hsbc Holdings PLC purchased a new position in shares of 4D Molecular Therapeutics in the second quarter valued at approximately $246,000. Finally, American Century Companies Inc. purchased a new position in shares of 4D Molecular Therapeutics in the second quarter valued at approximately $268,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

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.