Chardan Capital Issues Pessimistic Forecast for 4D Molecular Therapeutics (NASDAQ:FDMT) Stock Price

4D Molecular Therapeutics (NASDAQ:FDMT) had its target price lowered by investment analysts at Chardan Capital from $26.00 to $25.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Chardan Capital’s target price would indicate a potential upside of 98.57% from the stock’s current price.

A number of other research firms have also recently commented on FDMT. HC Wainwright reissued a “buy” rating and set a $36.00 price target on shares of 4D Molecular Therapeutics in a report on Monday, July 20th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $32.00 price objective on shares of 4D Molecular Therapeutics in a research note on Thursday, August 13th. B. Riley Financial reiterated a “buy” rating on shares of 4D Molecular Therapeutics in a research report on Monday, August 17th. Bank of America boosted their target price on 4D Molecular Therapeutics from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, September 29th. Finally, Cantor Fitzgerald raised shares of 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Monday, September 14th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, 4D Molecular Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $28.90.

4D Molecular Therapeutics Stock Performance

Shares of NASDAQ:FDMT opened at $12.59 on Tuesday. The company’s 50 day simple moving average is $13.67 and its 200 day simple moving average is $11.36. The stock has a market capitalization of $695.47 million, a price-to-earnings ratio of -4.79 and a beta of 2.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 8.03 and a quick ratio of 8.03. 4D Molecular Therapeutics has a 1 year low of $6.96 and a 1 year high of $16.93.

4D Molecular Therapeutics (NASDAQ:FDMT) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.02). 4D Molecular Therapeutics had a negative net margin of 194.74% and a negative return on equity of 41.33%. The firm had revenue of $3.78 million for the quarter, compared to analyst estimates of $3.62 million. As a group, research analysts predict that 4D Molecular Therapeutics will post -4.07 EPS for the current fiscal year.

Insider Activity at 4D Molecular Therapeutics

In related news, insider David Kirn sold 58,333 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $12.92, for a total transaction of $753,662.36. Following the sale, the insider owned 709,153 shares of the company’s stock, valued at $9,162,256.76. This trade represents a 7.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 150,295 shares of company stock valued at $1,948,494. 7.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 4D Molecular Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of FDMT. Jupiter Topco LLC acquired a new stake in shares of 4D Molecular Therapeutics during the second quarter valued at about $76,466,000. Janus Henderson Group PLC grew its holdings in shares of 4D Molecular Therapeutics by 13.2% during the first quarter. Janus Henderson Group PLC now owns 5,247,151 shares of the company’s stock worth $48,868,000 after purchasing an additional 611,276 shares during the last quarter. BlackRock Inc. acquired a new position in shares of 4D Molecular Therapeutics in the second quarter valued at approximately $60,463,000. Trails Edge Capital Partners LP acquired a new position in shares of 4D Molecular Therapeutics in the second quarter valued at approximately $29,631,296. Finally, Armistice Capital LLC raised its holdings in 4D Molecular Therapeutics by 76.6% in the 4th quarter. Armistice Capital LLC now owns 1,936,000 shares of the company’s stock valued at $14,520,000 after buying an additional 840,000 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

About 4D Molecular Therapeutics

4D Molecular Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases. The company uses its Therapeutic Vector Evolution platform to engineer adeno-associated virus (AAV) vectors designed to deliver genetic medicines to specific tissues, including the eye and lungs.

Its investigational pipeline includes 4D-150, an intravitreal gene therapy being developed for retinal diseases such as wet age-related macular degeneration and diabetic macular edema.