4D Molecular Therapeutics, Inc. (NASDAQ:FDMT) Short Interest Down 13.2% in October

4D Molecular Therapeutics, Inc. (NASDAQ:FDMT - Get Free Report) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 9,490,000 shares, a decrease of 13.2% from the September 30th total of 10,930,000 shares. Based on an average daily volume of 792,200 shares, the days-to-cover ratio is currently 12.0 days.

Wall Street Analysts Forecast Growth

FDMT has been the topic of several recent analyst reports. Cantor Fitzgerald downgraded shares of 4D Molecular Therapeutics from an "overweight" rating to a "neutral" rating in a research note on Monday, September 23rd. Leerink Partners reaffirmed an "outperform" rating and set a $36.00 price objective (down from $40.00) on shares of 4D Molecular Therapeutics in a research note on Thursday, September 19th. Royal Bank of Canada reiterated an "outperform" rating and issued a $40.00 target price on shares of 4D Molecular Therapeutics in a research note on Monday, July 22nd. Chardan Capital raised their target price on 4D Molecular Therapeutics from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Finally, BMO Capital Markets cut their price target on 4D Molecular Therapeutics from $63.00 to $40.00 and set an "outperform" rating for the company in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.14.

Institutional Investors Weigh In On 4D Molecular Therapeutics

A number of institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of 4D Molecular Therapeutics by 702.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,457 shares of the company's stock worth $110,000 after purchasing an additional 3,026 shares during the period. nVerses Capital LLC bought a new stake in 4D Molecular Therapeutics during the third quarter worth about $40,000. Values First Advisors Inc. acquired a new stake in 4D Molecular Therapeutics during the third quarter worth about $57,000. Quest Partners LLC increased its holdings in 4D Molecular Therapeutics by 17,409.1% in the 2nd quarter. Quest Partners LLC now owns 5,778 shares of the company's stock valued at $121,000 after buying an additional 5,745 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of 4D Molecular Therapeutics in the 1st quarter valued at approximately $239,000. Institutional investors own 99.27% of the company's stock.

4D Molecular Therapeutics Stock Down 4.3 %

NASDAQ FDMT traded down $0.37 during trading hours on Tuesday, hitting $8.20. The company's stock had a trading volume of 508,139 shares, compared to its average volume of 899,469. 4D Molecular Therapeutics has a twelve month low of $7.90 and a twelve month high of $36.25. The firm has a market capitalization of $426.15 million, a P/E ratio of -3.57 and a beta of 2.77. The stock has a fifty day moving average of $12.13 and a 200 day moving average of $18.56.

4D Molecular Therapeutics (NASDAQ:FDMT - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, beating analysts' consensus estimates of ($0.72) by $0.09. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $1.90 million. On average, analysts predict that 4D Molecular Therapeutics will post -2.74 earnings per share for the current year.

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.