Royal Bank of Canada Boosts 4D Molecular Therapeutics (NASDAQ:FDMT) Price Target to $40.00

4D Molecular Therapeutics (NASDAQ:FDMT) had its price target boosted by Royal Bank of Canada from $35.00 to $40.00 in a research report released on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities research analysts have also issued reports on FDMT. HC Wainwright reaffirmed a buy rating and set a $36.00 target price on shares of 4D Molecular Therapeutics in a research report on Friday, March 1st. Barclays assumed coverage on 4D Molecular Therapeutics in a report on Monday. They set an overweight rating on the stock. The Goldman Sachs Group reiterated a buy rating and issued a $81.00 target price on shares of 4D Molecular Therapeutics in a report on Wednesday, February 7th. BMO Capital Markets cut their price target on shares of 4D Molecular Therapeutics from $70.00 to $63.00 and set an outperform rating on the stock in a report on Monday, April 1st. Finally, Jefferies Financial Group upped 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. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, 4D Molecular Therapeutics has an average rating of Buy and an average price target of $44.22.

4D Molecular Therapeutics Price Performance

NASDAQ FDMT opened at $24.78 on Monday. 4D Molecular Therapeutics has a 12 month low of $9.44 and a 12 month high of $36.25. The company has a market capitalization of $1.27 billion, a P/E ratio of -9.32 and a beta of 2.87. The company’s 50 day simple moving average is $28.97 and its 200 day simple moving average is $20.13.

4D Molecular Therapeutics (NASDAQ:FDMT) last posted 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). 4D Molecular Therapeutics had a negative return on equity of 34.14% and a negative net margin of 436.30%. The business had revenue of ($0.02) million during the quarter, compared to analyst estimates of $4.67 million. On average, analysts anticipate that 4D Molecular Therapeutics will post -3.03 earnings per share for the current year.

Insider Activity at 4D Molecular Therapeutics

In other 4D Molecular Therapeutics news, CEO David Kirn sold 5,696 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total value of $104,863.36. Following the completion of the sale, the chief executive officer now owns 1,151,154 shares in the company, valued at approximately $21,192,745.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Scott Bizily sold 5,833 shares of 4D Molecular Therapeutics stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $35.04, for a total transaction of $204,388.32. Following the completion of the sale, the insider now directly owns 1,737 shares in the company, valued at approximately $60,864.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Kirn sold 5,696 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $18.41, for a total value of $104,863.36. Following the completion of the sale, the chief executive officer now directly owns 1,151,154 shares of the company’s stock, valued at approximately $21,192,745.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,638 shares of company stock valued at $4,179,299. Corporate insiders own 10.70% of the company’s stock.

Institutional Trading of 4D Molecular Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Bfsg LLC bought a new position in shares of 4D Molecular Therapeutics during the 4th quarter valued at $30,000. International Assets Investment Management LLC acquired a new position in 4D Molecular Therapeutics during the third quarter worth $36,000. US Bancorp DE increased its position in 4D Molecular Therapeutics by 580.7% during 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 during the last quarter. Lazard Asset Management LLC raised its holdings in 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 in the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in shares of 4D Molecular Therapeutics by 167.9% in the third quarter. Ensign Peak Advisors Inc now owns 7,180 shares of the company’s stock worth $58,000 after buying an additional 4,500 shares during the last quarter. 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.