Deep Track Capital LP has recently announced that it has increased stake in 4D Molecular Therapeutics Inc. (NASDAQ:FDMT) by 1.80%. After grabbing 3.2 million shares, the institutional investor is now in possession of 56642.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 9.87% having worth around $27.68 million. Moreover, BlackRock Fund Advisors increased its share by 17894.0 to have a control over 1.96 million shares. And Morgan Stanley & Co. LLC raised its holdings to 1.89 million shares by acquiring 1.93 million shares or 5.96% of the stake.
4D Molecular Therapeutics Inc. (FDMT) concluded trading on 11/23/22 at a closing price of $23.26, with 0.46 million shares of worth about $10.74 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 217.76% during that period and on Wednesday the price saw a loss of about -1.02%. Currently the company’s common shares owned by public are about 32.39M shares, out of which, 28.66M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the FDMT stock and their offered price forecasts bring an average price target of $35.17. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $68.00 and could fall to a lowest price of $15.00. The stock’s current price level is 33.54% above of average price target set by the analysts, while a rise to estimated low would result in loss of -55.07% for the stock. However, touching the estimated high of $68.00 would mean a gain of 65.79% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 0 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Meridian Small Cap Growth Fund are the top 3 mutual funds which are holding stakes in 4D Molecular Therapeutics Inc. Vanguard Total Stock Market Index is currently holding 0.81 million shares of worth totaling $7.0 million. The company recently came buying 0.0 shares which brought its stake up to 2.50% of the company’s outstanding shares. iShares Russell 2000 ETF sold 12198.0 shares, after which its hold over company’s outstanding shares shrunk to 2.03%, leaving 0.66 million shares with the mutual fund that have a worth of about $5.69 million. Meridian Small Cap Growth Fund, after selling 0.47 million shares, have now control over 1.45% of the stake in the company. It holds 37680.0 shares of worth $4.06 million.
4D Molecular Therapeutics Inc. (NASDAQ: FDMT) started trading at $23.69, above $0.19 from concluding price of the previous day. Stock saw a price change of 10.71% in past 5 days and over the past one month there was a price change of 210.13%. Year-to-date (YTD), FDMT shares are showing a performance of 6.02% which increased to 7.34% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.32 but also hit the highest price of $24.82 during that period. The average intraday trading volume for 4D Molecular Therapeutics Inc. shares is 490.53K. The stock is currently trading 80.44% above its 20-day simple moving average (SMA20), while that difference is up 135.52% for SMA50 and it goes to 119.31% higher than SMA200.
Deep Track Capital LP acquired 3.2 million shares of 4D Molecular Therapeutics Inc. having value of about $27.68 million. Data submitted at the U.S SEC by Deep Track Capital LP revealed that the firm now holds 56642.0 shares in the company valued at close to $1317492.92, or have control over 1.80% stake in the company. 4D Molecular Therapeutics Inc. (NASDAQ: FDMT) currently have 32.39M outstanding shares and institutions hold larger chunk of about 82.30% of that. Holding of mutual funds in the company is about 24.56% while other institutional holders and individual stake holders have control over 61.01% and 20.22% of the stake respectively.
The stock has a current market capitalization of $767.58M. It has posted earnings per share of -$3.30 in the same period. It has Quick Ratio of 17.10 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FDMT, volatility over the week remained 14.83% while standing at 15.79% over the month.
Analysts are in expectations that 4D Molecular Therapeutics Inc. (FDMT) stock would likely to be making an EPS of -$0.91 in the current quarter, while forecast for next quarter EPS is -$0.82 and it is -$3.59 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.11 which is -$0.79 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.82 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -21.00% while it is estimated to decrease by -16.20% in next year.
Analysts at 6 brokerage firms have issued recommendations for the 4D Molecular Therapeutics Inc. (FDMT)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 6 Wall Street analysts, 5 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by H.C. Wainwright on November 18, 2022 offering a Buy rating for the stock and assigned a target price of $36 to it. Coverage by Goldman stated 4D Molecular Therapeutics Inc. (FDMT) stock as a Buy in their note to investors on November 15, 2022, suggesting a price target of $68 for the stock. On August 12, 2022, SVB Leerink Downgrade their recommendations, while on June 22, 2022, Jefferies Initiated their ratings for the stock with a price target of $22. Stock get an Outperform rating from SVB Leerink on January 04, 2022.