4D Molecular Therapeutics (NASDAQ:FDMT) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) issued its earnings results on Monday. The company reported ($1.01) EPS for the quarter, topping analysts' consensus estimates of ($1.02) by $0.01, Zacks reports. 4D Molecular Therapeutics had a negative net margin of 594,375.81% and a negative return on equity of 40.15%. The business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.40 million.

4D Molecular Therapeutics Stock Performance

Shares of 4D Molecular Therapeutics stock traded up $0.63 during trading hours on Tuesday, hitting $10.80. The company's stock had a trading volume of 1,824,237 shares, compared to its average volume of 860,096. The stock has a market cap of $504.36 million, a price-to-earnings ratio of -3.06 and a beta of 2.96. 4D Molecular Therapeutics has a twelve month low of $2.23 and a twelve month high of $12.34. The firm has a fifty day moving average of $8.99 and a 200-day moving average of $6.09.

Wall Street Analysts Forecast Growth

FDMT has been the subject of several recent research reports. Morgan Stanley raised 4D Molecular Therapeutics from an "underweight" rating to an "equal weight" rating in a research report on Friday. Chardan Capital lifted their price target on 4D Molecular Therapeutics from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays dropped their price objective on shares of 4D Molecular Therapeutics from $38.00 to $33.00 and set an "overweight" rating on the stock in a report on Tuesday. Royal Bank Of Canada lifted their price target on 4D Molecular Therapeutics from $26.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Leerink Partners reissued an "outperform" rating and set a $17.00 target price on shares of 4D Molecular Therapeutics in a research note on Friday, October 31st. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, 4D Molecular Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $28.70.

View Our Latest Report on 4D Molecular Therapeutics

Insider Buying and Selling

In other 4D Molecular Therapeutics news, insider Scott Bizily sold 2,678 shares of the company's stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $12.00, for a total value of $32,136.00. Following the transaction, the insider owned 3,594 shares of the company's stock, valued at $43,128. This represents a 42.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 9,128 shares of company stock valued at $92,100 over the last 90 days. Corporate insiders own 9.60% of the company's stock.

Hedge Funds Weigh In On 4D Molecular Therapeutics

Several large investors have recently made changes to their positions in FDMT. Dynamic Technology Lab Private Ltd acquired a new stake in 4D Molecular Therapeutics in the 1st quarter valued at approximately $39,000. AQR Capital Management LLC acquired a new stake in shares of 4D Molecular Therapeutics in the first quarter valued at $46,000. Rangeley Capital LLC acquired a new stake in shares of 4D Molecular Therapeutics in the second quarter valued at $48,000. Russell Investments Group Ltd. raised its holdings in shares of 4D Molecular Therapeutics by 11.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 21,816 shares of the company's stock valued at $81,000 after buying an additional 2,284 shares during the period. Finally, Bridgeway Capital Management LLC lifted its stake in 4D Molecular Therapeutics by 100.3% during the 2nd quarter. Bridgeway Capital Management LLC now owns 25,000 shares of the company's stock worth $93,000 after acquiring an additional 12,516 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.

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