4D Molecular Therapeutics, Inc. (FDMT) Soars 11.2%: Is Further Upside Left in the Stock?
4D Molecular Therapeutics, Inc. (FDMT) shares rallied 11.2% in the last trading session to close at $16.85. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.7% loss over the past four weeks.
The sudden soaring of the stock price can be attributed to the positive momentum built around the company's pipeline. According to a recent press release, 4D Molecular Therapeutics will be presenting topline data from its phase I/II PRISM study of 4D-150 in the treatment of wet age-related macular degeneration and diabetic macular edema at an upcoming medical conference.
Additionally, the company also promoted Robert Kim to Chief Medical Officer, supporting its goal to become a fully-integrated, large genetic medicines company. Dr. Kim has been previously appointed in leadership roles in well-known companies like Genentech, Novartis, Apellis, and GSK, and as a faculty member at the University of California, San Francisco Medical School.
This company is expected to post quarterly loss of $0.88 per share in its upcoming report, which represents a year-over-year change of -7.3%. Revenues are expected to be $1.45 million, up 19.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For 4D Molecular Therapeutics, Inc., the consensus EPS estimate for the quarter has been revised 15.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FDMT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
4D Molecular Therapeutics, Inc. is part of the Zacks Medical - Drugs industry. Theravance Biopharma (TBPH), another stock in the same industry, closed the last trading session 3.4% higher at $11.91. TBPH has returned 9.1% in the past month.
For Theravance Bio , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of -12.5% from what the company reported a year ago. Theravance Bio currently has a Zacks Rank of #3 (Hold).
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