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4D Molecular Therapeutics, Inc. logo

4D Molecular Therapeutics, Inc.

FDMT

NASDAQHealthcareBiotechnology

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Previous close

$15.83

−$0.27 · -1.68%

Aug 21, 4:00 PM ET

FDMT company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

64

Undervalued

Momentum

66

Gaining

Sentiment

74

Bullish

Risk resilience

38

High Risk

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Thesis, catalysts, evidence, and risk analysis.

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AI-generated, informational only, and not investment advice.

Company profile

Company website

4D Molecular Therapeutics, Inc. is a clinical-stage gene therapy company that engineers therapeutic agents by leveraging its proprietary adeno-associated virus (AAV) vector technology. The company's developmental efforts are concentrated across a trio of therapeutic fields: ophthalmology (eye conditions), cardiology (heart ailments), and pulmonology (respiratory disorders). Within its active pipeline, three specific product candidates have advanced into clinical trial phases, all currently undergoing Phase 1/2 clinical assessment: 4D-125 is being evaluated for the treatment of X-linked retinitis pigmentosa. 4D-110 targets choroideremia. 4D-310 is focused on addressing Fabry disease. Beyond these, two Investigational New Drug (IND) candidates are in development: 4D-150, aimed at combating wet age-related macular degeneration, and 4D-710, designed to tackle cystic fibrosis lung disease. To advance its mission, 4D Molecular Therapeutics, Inc. actively engages in research and development partnerships with entities such as uniQure, CRF, Roche, and CFF. The firm commenced operations in 2013 and maintains its headquarters in Emeryville, California.

Industry
Biotechnology
Sector
Healthcare
Headquarters
US
CEO
David H. Kirn
Listed since
Dec 11, 2020
Employees
196

Market position

Day range

Current $15.83

52-week range

Current $15.83

Open
$16.265
Previous close
$16.10
Volume
921.17K
1.06× average
Average volume
866.62K
Average daily volume
Market cap
827.53M USD
Beta
2.69
Market reference 1
50-day average
$11.5141
+37.48% above average
200-day average
$9.8894
+60.07% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
395.65M USD
P/E (TTM)
-5.82×
P/B (TTM)
2.73×
P/S (TTM)
8.99×
EV / EBITDA
-2.99×
Earnings yield
-32.25%
Free cash flow yield
-25.11%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
42.00%
Operating margin
-214.24%
Net margin
-194.74%
Return on equity
-27.71%
Return on assets
-24.72%
Return on invested capital
-30.20%

Financial health

Debt / equity
0.1×
Current ratio
9.39×
Altman Z-score
3.12
Piotroski F-score
3 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends50868%-152240%-355348%-558455%Gross margin, FY2021: -240.17%Gross margin, FY2022: -2464.81%Gross margin, FY2023: -368.54%Gross margin, FY2024: -381789.19%Gross margin, FY2025: 91.05%Operating margin, FY2021: -395.46%Operating margin, FY2022: -3516.52%Operating margin, FY2023: -544.65%Operating margin, FY2024: -507678.38%Operating margin, FY2025: -187.24%Net margin, FY2021: -395.37%Net margin, FY2022: -3435.41%Net margin, FY2023: -486.59%Net margin, FY2024: -434778.38%Net margin, FY2025: -164.43%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 -240.17%. Gross margin FY2022 -2464.81%. Gross margin FY2023 -368.54%. Gross margin FY2024 -381789.19%. Gross margin FY2025 91.05%. Operating margin FY2021 -395.46%. Operating margin FY2022 -3516.52%. Operating margin FY2023 -544.65%. Operating margin FY2024 -507678.38%. Operating margin FY2025 -187.24%. Net margin FY2021 -395.37%. Net margin FY2022 -3435.41%. Net margin FY2023 -486.59%. Net margin FY2024 -434778.38%. Net margin FY2025 -164.43%.

Income trends

Revenue

85.21M USD+230194.59%

Operating income

−159.55M USD+15.06%

Net income

−140.11M USD+12.90%
Income trends across reported periods112.51M USD3.29M USD−105.93M USD−215.15M USDRevenue, FY2021: 18.04M USDRevenue, FY2022: 3.13M USDRevenue, FY2023: 20.72M USDRevenue, FY2024: 37K USDRevenue, FY2025: 85.21M USDOperating income, FY2021: −71.33M USDOperating income, FY2022: −110.03M USDOperating income, FY2023: −112.87M USDOperating income, FY2024: −187.84M USDOperating income, FY2025: −159.55M USDNet income, FY2021: −71.32M USDNet income, FY2022: −107.49M USDNet income, FY2023: −100.84M USDNet income, FY2024: −160.87M USDNet income, FY2025: −140.11M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 18.04M USD. Revenue FY2022 3.13M USD. Revenue FY2023 20.72M USD. Revenue FY2024 37K USD. Revenue FY2025 85.21M USD. Operating income FY2021 −71.33M USD. Operating income FY2022 −110.03M USD. Operating income FY2023 −112.87M USD. Operating income FY2024 −187.84M USD. Operating income FY2025 −159.55M USD. Net income FY2021 −71.32M USD. Net income FY2022 −107.49M USD. Net income FY2023 −100.84M USD. Net income FY2024 −160.87M USD. Net income FY2025 −140.11M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue85.21M USD37K USD20.72M USD3.13M USD18.04M USD
Cost of goods sold7.63M USD141.3M USD97.1M USD80.25M USD61.36M USD
Gross profit77.58M USD−141.26M USD−76.37M USD−77.12M USD−43.32M USD
Research and development195.7M USD141.3M USD97.1M USD80.25M USD61.36M USD
Selling, general, and administrative49.06M USD46.58M USD36.49M USD32.91M USD28.01M USD
Operating expenses237.13M USD46.58M USD36.49M USD32.91M USD28.01M USD
Interest income19.48M USD27.05M USD12.21M USD2.57M USD137K USD
Depreciation and amortization7.63M USD6.71M USD4.2M USD2.4M USD1.52M USD
Operating income−159.55M USD−187.84M USD−112.87M USD−110.03M USD−71.33M USD
Net income−140.11M USD−160.87M USD−100.84M USD−107.49M USD−71.32M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 7 misses, 0 met estimates
Average EPS surprise
+12.79%
11 comparable reports
Latest EPS result
-1.04
Estimate -1.02 · Miss by 1.96%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.55-0.02-0.59-1.16Q1 '25MissQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 28, 2025: actual -0.9, estimate -0.8, surprise -12.50%, Miss. Q2 2025, reported May 8, 2025: actual -0.86, estimate -0.84, surprise -2.38%, Miss. Q3 2025, reported Aug 11, 2025: actual -0.98, estimate -0.88, surprise -11.36%, Miss. Q4 2025, reported Nov 10, 2025: actual -1.01, estimate -1.02, surprise +0.98%, Beat. Q1 2026, reported Mar 18, 2026: actual 0.43, estimate -0.53, surprise +181.13%, Beat. Q2 2026, reported May 7, 2026: actual -1.01, estimate -0.97, surprise -4.12%, Miss. Q3 2026, reported Aug 13, 2026: actual -1.04, estimate -1.02, surprise -1.96%, Miss. Q4 2026, reported Nov 10, 2026: actual —, estimate -1.04, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates91.91M61.27M30.64M850Q1 '25MissQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 28, 2025: actual 1K USD, estimate 2.28M USD, surprise -99.96%, Miss. Q2 2025, reported May 8, 2025: actual 14K USD, estimate 537.5K USD, surprise -97.40%, Miss. Q3 2025, reported Aug 11, 2025: actual 15K USD, estimate 4.67K USD, surprise +221.20%, Beat. Q4 2025, reported Nov 10, 2025: actual 90K USD, estimate 30.86M USD, surprise -99.71%, Miss. Q1 2026, reported Mar 18, 2026: actual 85.1M USD, estimate 27M USD, surprise +215.20%, Beat. Q2 2026, reported May 7, 2026: actual 3.05M USD, estimate 2.59M USD, surprise +17.76%, Beat. Q3 2026, reported Aug 13, 2026: actual 3.78M USD, estimate 3.62M USD, surprise +4.45%, Beat. Q4 2026, reported Nov 10, 2026: actual —, estimate 3.46M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$32.00

102.15% upside
Past 12 months12-month forecastHigh $32.00Average $32.00Low $32.00

Rating distribution

14 ratings
Strong buy00%
Buy1071%
Hold321%
Sell17%
Strong sell00%

Recent analyst actions

12 institutions
Roth CapitalmaintainBuy
Goldman SachsmaintainBuy
Morgan StanleymaintainUnderweight

FDMT news

defenseworld.net

4D Molecular Therapeutics (NASDAQ:FDMT) Sets New 12-Month High – Time to Buy?

4D Molecular Therapeutics, Inc. (NASDAQ: FDMT - Get Free Report)'s share price reached a new 52-week high on Tuesday. The company traded as high as $15.03 and last traded at $14.55, with a volume of 3444983 shares. The…

Read source
globenewswire.com

4DMT Announces New Employment Inducement Grants

EMERYVILLE, Calif., Aug. 14, 2026 (GLOBE NEWSWIRE) -- 4D Molecular Therapeutics (Nasdaq: FDMT, 4DMT or the Company), a leading late-stage biotechnology company advancing durable and disease-targeted therapeutics with…

Read source
zacks.com

4D Molecular Therapeutics, Inc. (FDMT) Reports Q2 Loss, Tops Revenue Estimates

4D Molecular Therapeutics, Inc. (FDMT) came out with a quarterly loss of $1.04 per share in line with the Zacks Consensus Estimate. This compares to a loss of $0.98 per share a year ago.

Read source
globenewswire.com

4DMT Reports Second Quarter 2026 Financial Results, Operational Highlights and Expected Upcoming Milestones

Completed enrollment for 4D-150 4FRONT-2 wet AMD Phase 3; topline data expected in H2 2027 4D-150 4FRONT-1 Phase 3 topline data expected in Q2 2027 Presented positive 2-year data from 4D-150 PRISM Phase 2b at ASRS,…

Read source
schaeffersresearch.com

10 Stock Picks to Celebrate 45 Years of Schaeffer's

Subscribers to Chart of the Week received this commentary on Sunday, July 26.

Read source
seekingalpha.com

4D Molecular: 'Buy' Wet-AMD Study Readouts 2027 And DME Expansion Opportunity

4D Molecular Therapeutics, Inc. maintains a Buy rating, driven by advancing 4D-150 gene therapy for Wet-AMD and DME into late-stage pivotal trials. FDMT's 4D-150 demonstrated up to 89% reduction in injection burden and…

Read source

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ETFs holding FDMT

Funds reporting this stock among their holdings, ordered by reported position size.

State Street SPDR S&P Biotech ETF logoState Street SPDR S&P Biotech ETFXBI
Market value
27.19M
Weight
0.24%
AUM
11.39B USD
Expense ratio
0.35%
Price / 1D
$165.73+1.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
19.01M
Weight
0.02%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
16.17M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
6.82M
Weight
0.05%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$224.81+0.45%
iShares Biotechnology ETF logoiShares Biotechnology ETFIBB
Market value
5.57M
Weight
0.05%
AUM
10.75B USD
Expense ratio
0.44%
Price / 1D
$213.56+1.29%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
4.7M
Weight
0.00%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
State Street SPDR S&P Kensho New Economies Composite ETF logoState Street SPDR S&P Kensho New Economies Composite ETFKOMP
Market value
4.4M
Weight
0.16%
AUM
2.71B USD
Expense ratio
0.20%
Price / 1D
$69.24+0.92%
Fidelity Enhanced Small Cap ETF logoFidelity Enhanced Small Cap ETFFESM
Market value
3.41M
Weight
0.05%
AUM
6.03B USD
Expense ratio
0.28%
Price / 1D
$47.94+0.80%

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