4D Molecular Therapeutics (NASDAQ:FDMT) Receives New Coverage from Analysts at Barclays

Barclays initiated coverage on shares of 4D Molecular Therapeutics (NASDAQ:FDMT) in a research report released on Monday morning, Marketbeat.com reports. The brokerage issued an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on FDMT. HC Wainwright restated a buy rating and issued a $36.00 price objective on shares of 4D Molecular Therapeutics in a research note on Friday, March 1st. 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 research report on Monday, April 1st. The Goldman Sachs Group reiterated a buy rating and set a $81.00 price target on shares of 4D Molecular Therapeutics in a research report on Wednesday, February 7th. Royal Bank of Canada upped their price target on 4D Molecular Therapeutics from $25.00 to $35.00 and gave the company an outperform rating in a research report on Monday, February 5th. Finally, BMO Capital Markets decreased their price target on 4D Molecular Therapeutics from $70.00 to $63.00 and set an outperform rating on the stock in a research report on Monday, April 1st. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $44.22.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ:FDMT opened at $24.78 on Monday. The company’s 50-day moving average is $28.97 and its 200 day moving average is $20.13. The company has a market capitalization of $1.27 billion, a P/E ratio of -9.32 and a beta of 2.87. 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 quarterly earnings results on Thursday, February 29th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.09). The company had revenue of ($0.02) million during the quarter, compared to analysts’ expectations of $4.67 million. 4D Molecular Therapeutics had a negative return on equity of 34.14% and a negative net margin of 436.30%. As a group, research analysts predict that 4D Molecular Therapeutics will post -3.03 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Robert Young Kim sold 24,552 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $30.05, for a total value of $737,787.60. Following the transaction, the insider now directly owns 1,043 shares in the company, valued at $31,342.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Robert Young Kim sold 24,552 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $30.05, for a total value of $737,787.60. Following the transaction, the insider now directly owns 1,043 shares in the company, valued at $31,342.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott Bizily sold 1,750 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was 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 of the company’s stock, valued at approximately $48,062.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,638 shares of company stock worth $4,179,299. Insiders own 10.70% of the company’s stock.

Institutional Trading of 4D Molecular Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bfsg LLC purchased a new stake in 4D Molecular Therapeutics in the fourth quarter worth approximately $30,000. US Bancorp DE boosted its stake in 4D Molecular Therapeutics by 580.7% in the fourth quarter. US Bancorp DE now owns 1,797 shares of the company’s stock worth $36,000 after buying an additional 1,533 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of 4D Molecular Therapeutics during the fourth quarter valued at approximately $48,000. International Assets Investment Management LLC purchased a new stake in shares of 4D Molecular Therapeutics during the third quarter valued at approximately $36,000. Finally, Royal Bank of Canada boosted its stake in shares of 4D Molecular Therapeutics by 84.8% during the second quarter. Royal Bank of Canada now owns 3,223 shares of the company’s stock valued at $59,000 after purchasing an additional 1,479 shares during the period. Hedge funds and other 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.