4D Molecular Therapeutics (NASDAQ:FDMT) Sets New 1-Year High at $35.72

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT)’s share price hit a new 52-week high on Wednesday . The company traded as high as $35.72 and last traded at $35.58, with a volume of 265016 shares traded. The stock had previously closed at $34.05.

Analyst Ratings Changes

FDMT has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price target on shares of 4D Molecular Therapeutics from $50.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Friday, March 1st. The Goldman Sachs Group reissued a “buy” rating and issued a $81.00 price objective on shares of 4D Molecular Therapeutics in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada increased their price objective on shares of 4D Molecular Therapeutics from $25.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.44.

4D Molecular Therapeutics Stock Performance

The company’s 50 day moving average price is $27.05 and its 200-day moving average price is $18.76.

4D Molecular Therapeutics (NASDAQ:FDMT) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.09). The business had revenue of ($0.02) million for the quarter, compared to the consensus estimate of $4.67 million. 4D Molecular Therapeutics had a negative net margin of 436.30% and a negative return on equity of 34.14%. On average, sell-side analysts forecast that 4D Molecular Therapeutics, Inc. will post -2.97 EPS for the current fiscal year.

Insider Transactions at 4D Molecular Therapeutics

In other news, major shareholder Global Investors Lp Viking sold 540,000 shares of the stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $19.53, for a total transaction of $10,546,200.00. Following the completion of the sale, the insider now directly owns 4,247,914 shares in the company, valued at $82,961,760.42. The transaction was disclosed in a 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 firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $27.67, for a total value of $48,422.50. Following the completion of the sale, the insider now directly owns 1,737 shares in the company, valued at $48,062.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Global Investors Lp Viking sold 540,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $19.53, for a total transaction of $10,546,200.00. Following the completion of the sale, the insider now owns 4,247,914 shares of the company’s stock, valued at $82,961,760.42. The disclosure for this sale can be found here. Insiders sold a total of 714,634 shares of company stock worth $15,044,230 over the last three months. 10.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC grew its holdings in shares of 4D Molecular Therapeutics by 44.2% during the second quarter. Lazard Asset Management LLC now owns 2,190 shares of the company’s stock valued at $38,000 after buying an additional 671 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in 4D Molecular Therapeutics by 5.7% in the second quarter. The Manufacturers Life Insurance Company now owns 12,713 shares of the company’s stock valued at $230,000 after acquiring an additional 689 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 4D Molecular Therapeutics by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,381 shares of the company’s stock valued at $316,000 after acquiring an additional 1,002 shares during the last quarter. Virtus ETF Advisers LLC boosted its stake in 4D Molecular Therapeutics by 24.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,574 shares of the company’s stock valued at $113,000 after acquiring an additional 1,095 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in 4D Molecular Therapeutics by 23.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,872 shares of the company’s stock valued at $119,000 after purchasing an additional 1,110 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.