Insider Selling: 4D Molecular Therapeutics (NASDAQ:FDMT) Insider Sells $753,662.36 in Stock

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) insider David Kirn sold 58,333 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $12.92, for a total value of $753,662.36. Following the transaction, the insider directly owned 709,153 shares of the company’s stock, valued at approximately $9,162,256.76. The trade was a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

David Kirn also recently made the following trade(s):

• On Monday, September 14th, David Kirn sold 58,333 shares of 4D Molecular Therapeutics stock. The shares were sold at an average price of $13.90, for a total value of $810,828.70.
• On Monday, August 3rd, David Kirn sold 12,415 shares of 4D Molecular Therapeutics stock. The stock was sold at an average price of $10.05, for a total value of $124,770.75.
• On Friday, July 10th, David Kirn sold 15,725 shares of 4D Molecular Therapeutics stock. The shares were sold at an average price of $12.03, for a total transaction of $189,171.75.
• On Thursday, July 9th, David Kirn sold 42,608 shares of 4D Molecular Therapeutics stock. The shares were sold at an average price of $12.87, for a total transaction of $548,364.96.

4D Molecular Therapeutics Stock Performance

Shares of FDMT opened at $13.33 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 8.03 and a quick ratio of 8.03. The firm’s 50 day moving average is $13.79 and its 200-day moving average is $11.41. 4D Molecular Therapeutics, Inc. has a 12-month low of $6.96 and a 12-month high of $16.93. The stock has a market capitalization of $736.35 million, a P/E ratio of -5.07 and a beta of 2.75.

4D Molecular Therapeutics (NASDAQ:FDMT) last issued its earnings results on Thursday, August 13th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.02). The business had revenue of $3.78 million for the quarter, compared to the consensus estimate of $3.62 million. 4D Molecular Therapeutics had a negative return on equity of 41.33% and a negative net margin of 194.74%. Equities research analysts anticipate that 4D Molecular Therapeutics, Inc. will post -4.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FDMT. Cantor Fitzgerald upgraded 4D Molecular Therapeutics from a “neutral” rating to an “overweight” rating and set a $20.00 price target for the company in a research report on Monday, September 14th. Weiss Ratings restated a “sell (d-)” rating on shares of 4D Molecular Therapeutics in a report on Friday, July 17th. Chardan Capital reduced their price objective on shares of 4D Molecular Therapeutics from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. Bank of America raised their target price on shares of 4D Molecular Therapeutics from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, September 29th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $32.00 price target on shares of 4D Molecular Therapeutics in a report on Thursday, August 13th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.90.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Persistent Asset Partners Ltd purchased a new position in shares of 4D Molecular Therapeutics during the 2nd quarter valued at $1,936,000. Deutsche Bank AG acquired a new position in 4D Molecular Therapeutics in the 2nd quarter worth about $9,456,000. Dimensional Fund Advisors LP increased its position in 4D Molecular Therapeutics by 77.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 522,823 shares of the company’s stock worth $4,863,000 after purchasing an additional 227,982 shares during the last quarter. Exome Asset Management LLC purchased a new stake in shares of 4D Molecular Therapeutics during the 1st quarter worth about $1,216,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of 4D Molecular Therapeutics during the 2nd quarter valued at about $1,944,000. Hedge funds and other institutional investors 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.