RA Capital Management LP recently announced the acquisition of new stake in 4D Molecular Therapeutics Inc (NASDAQ:FDMT). The institutional investor has increased its shareholding in the Healthcare company by 35.63% to 4.16 million shares with purchase of 1.09 million shares. This fresh investment now brings its stake to 9.74% valued currently at $52.96 million. In addition, BlackRock Fund Advisors raised its holdings by 0.22 million to 2.64 million shares. And ArrowMark Colorado Holdings LLC has lifted its position by 5.17% or 53323.0 shares – to 1.08 million shares.
With over 0.46 million 4D Molecular Therapeutics Inc (FDMT) shares trading Friday and a closing price of $20.69 on the day, the dollar volume was approximately $9.53 million. The shares have shown a positive half year performance of 15.59% and its price on 12/22/23 gained nearly 1.17%. Currently, there are 42.75M common shares owned by the public and among those 35.89M shares have been available to trade.
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Insiders at the company have transacted a total of 19 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 1,469,250 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 670,965 shares.
The top 3 mutual fund holders in 4D Molecular Therapeutics Inc are Vanguard Total Stock Market ETF, SPDR S&P Biotech ETF, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 1.14 million shares of the company’s stock, all valued at over $14.49 million. SPDR S&P Biotech ETF bought 5040.0 shares to see its total holdings expand to 1.08 million shares valued at over $13.77 million and representing 2.53% of the shares outstanding. iShares Russell 2000 ETF bought 468.0 shares to bring its total holdings to over 0.95 million shares at a value of $12.14 million. iShares Russell 2000 ETF now owns shares totaling to 2.23% of the shares outstanding.
Shares of 4D Molecular Therapeutics Inc (NASDAQ: FDMT) opened at $20.78, up $0.33 from a prior closing price of $20.45. However, the script later moved the day high at 21.53, up 1.17%. The company’s stock has a 5-day price change of 16.50% and 56.86% over the past three months. FDMT shares are trading -6.84% year to date (YTD), with the 12-month market performance up to 1.03% higher. It has a 12-month low price of $9.44 and touched a high of $24.10 over the same period. FDMT has an average intraday trading volume of 363.24K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 36.30%, 64.42%, and 28.81% respectively.
Institutional ownership of 4D Molecular Therapeutics Inc (NASDAQ: FDMT) shares accounts for 88.12% of the company’s 42.75M shares outstanding. Mutual fund holders own 26.58%, while other institutional holders and individual stakeholders account for 61.60% and 18.30% respectively.
It has a market capitalization of $884.50M and a beta (3y monthly) value of 2.62. The earnings-per-share (ttm) stands at -$2.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.58% over the week and 6.45% over the month.
Analysts forecast that 4D Molecular Therapeutics Inc (FDMT) will achieve an EPS of -$0.74 for the current quarter, -$0.86 for the next quarter and -$3.13 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.87 while analysts give the company a high EPS estimate of -$0.41. Comparatively, EPS for the current quarter was -$0.84 a year ago. Earnings per share for the fiscal year are expected to increase by 20.43%, and -15.08% over the next financial year. EPS should grow at an annualized rate of -9.50% over the next five years, compared to -49.09% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate 4D Molecular Therapeutics Inc (FDMT) as a “Strong Buy” at a consensus score of 1.00. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 0 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the FDMT, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Outperform rating for the stock in a research note on October 26, 2023, with the firm’s price target at $25.
