4D Molecular Therapeutics (FDMT) AI Stock Analysis

• Market Cap: $417.09M
• Dividend Yield: N/A
• Average Volume (3M): 1.01M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.99
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 227
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.01
• Shares Outstanding: 57,135,075
• 10 Day Avg. Volume: 715,844
• 30 Day Avg. Volume: 1,009,841
• PEG Ratio: -0.12
• Price to Book (P/B): 0.59
• Price to Sales (P/S): 8120.72
• P/FCF Ratio: -2.17
• Enterprise Value/Market Cap: 0.49
• Enterprise Value/Revenue: 1.71K
• Enterprise Value/Gross Profit: -2.12
• Enterprise Value/Ebitda: -0.90
• 1Y Price Target: $33.83
• Price Target Upside: 363.47% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: $7.00 ▼(-4.11% Downside)

The score is held down primarily by weak financial performance (large losses and sustained cash burn) and bearish technical trend signals (below major moving averages with negative MACD). Corporate events provide meaningful support via partnership funding and positive clinical readouts, but valuation remains difficult to support given ongoing losses and no dividend data.

Positive Factors

Proprietary AAV capsid discovery and engineering platform

A proprietary capsid discovery and engineering platform is a durable competitive asset: it enables tissue-specific targeting across multiple indications, supports pipeline leverage by reusing platform science for new candidates, and raises entry barriers versus single-program peers.

Positive Phase 1 AEROW interim data for 4D-710

Robust intermediate safety, durable target expression and selection of a Phase 2 dose materially de-risks 4D-710 development. This increases the program's probability of successful advancement, supporting durable clinical and commercial optionality and partner interest over the coming quarters.

APAC collaboration with Otsuka including $85M upfront

An $85M upfront strategic collaboration provides non-dilutive capital, cost-sharing on development, and APAC commercialization expertise. This structurally expands market access, validates the asset commercially, and lengthens runway without immediate equity issuance.

Negative Factors

Sustained high operating cash burn

Very large and persistent negative operating and free cash flows create ongoing financing needs. Over months this stresses strategic flexibility, forces prioritization of programs, and increases probability of future dilutive raises if clinical milestones or partner payments lag expectations.

Large and widening net losses with minimal revenue

Widening net losses combined with negligible revenue underscore a pre-commercial profile reliant on external funding. This structural deficit limits reinvestment capacity, pressures shareholder capital over time, and makes long-term self-sustainability contingent on trial success or persistent partnerships.

Recent equity offering highlights dilution risk

A sizable recent equity raise provides near-term runway but signals recurring reliance on capital markets. Structurally, repeated equity financing can dilute existing shareholders, and reflects that internal cash generation is insufficient to fund anticipated trial and development costs without external capital.

4D Molecular Therapeutics Business Overview & Revenue Model

Company Description

4D Molecular Therapeutics, Inc., a clinical-stage gene therapy company, develops product candidates using its adeno-associated viruses vectors. It develops a portfolio of gene therapy product candidates focuses in three therapeutic areas: ophthalmology, cardiology, and pulmonology. The company has three product candidates that are in clinical trials: 4D-125 that is in a Phase 1/2 clinical trial for the treatment of X-linked retinitis pigmentosa; 4D-110 that is in a Phase 1/2 clinical trial for the treatment of choroideremia; and 4D-310, which is in a Phase 1/2 clinical trial for the treatment of Fabry disease. Its two IND candidates are 4D-150 for the treatment of wet age-related macular degeneration and 4D-710 for the treatment of cystic fibrosis lung disease. 4D Molecular Therapeutics, Inc. has research and collaboration arrangements with uniQure; CRF; Roche; and CFF. The company was founded in 2013 and is headquartered in Emeryville, California.4D Molecular Therapeutics, Inc., a clinical-stage gene therapy company, develops product candidates using its adeno-associated viruses vectors. It develops a portfolio of gene therapy product candidates focuses in three therapeutic areas: ophthalmology, cardiology, and pulmonology. The company has three product candidates that are in clinical trials: 4D-125 that is in a Phase 1/2 clinical trial for the treatment of X-linked retinitis pigmentosa; 4D-110 that is in a Phase 1/2 clinical trial for the treatment of choroideremia; and 4D-310, which is in a Phase 1/2 clinical trial for the treatment of Fabry disease. Its two IND candidates are 4D-150 for the treatment of wet age-related macular degeneration and 4D-710 for the treatment of cystic fibrosis lung disease. 4D Molecular Therapeutics, Inc. has research and collaboration arrangements with uniQure; CRF; Roche; and CFF. The company was founded in 2013 and is headquartered in Emeryville, California.

How the Company Makes Money

4D Molecular Therapeutics generates revenue through a combination of partnerships, collaborations, and licensing agreements with pharmaceutical and biotechnology companies. The company may receive upfront payments, research funding, and milestone payments as it advances its therapeutic candidates through clinical trials. Additionally, FDMT could earn royalties on future sales of products developed through these collaborations. Significant partnerships with larger pharmaceutical firms enhance its financial stability and provide access to broader resources for development and commercialization efforts.

4D Molecular Therapeutics Financial Statement Overview

Summary

4D Molecular Therapeutics faces significant financial challenges typical of the biotechnology sector, particularly in early-stage development without consistent revenue streams. The balance sheet shows improvement, but the negative income and cash flow trends highlight ongoing operational hurdles. Future success will rely heavily on successful research outcomes and continued access to financing.

Income Statement

The company has experienced erratic revenue trends with significant fluctuations over the years. The lack of revenue in 2024 compared to the previous year denotes a challenging operational environment. Negative net income has been persistent, showcasing difficulties in achieving profitability. Margins are negative, and although the company had some revenue growth in prior years, sustainability remains questionable.

Balance Sheet

The company's balance sheet shows a strong equity base due to significant cash holdings, which is a positive aspect. However, the company's financial stability is undermined by negative equity in previous years. Recent improvements in stockholders' equity and low debt levels indicate improving financial health, but past fluctuations present a risk.

Cash Flow

Cash flow from operations is consistently negative, reflecting ongoing cash burn typical of early-stage biotech companies. While free cash flow remains negative, the increase in financing activities suggests reliance on external funding to sustain operations. Positive trends in financing cash flow are countered by high levels of capital expenditure.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	120.00K	37.00K	20.72M	3.13M	18.04M	13.61M
Gross Profit	-96.85M	37.00K	-76.37M	-77.12M	-43.32M	-39.43M
EBITDA	-226.81M	-181.14M	-108.66M	-107.63M	-69.81M	-55.22M
Net Income	-209.18M	-160.87M	-100.84M	-107.49M	-71.32M	-56.69M
Balance Sheet
Total Assets	423.98M	560.38M	339.89M	261.85M	353.49M	288.33M
Cash, Cash Equivalents and Short-Term Investments	305.06M	424.88M	288.23M	213.55M	247.78M	276.73M
Total Debt	22.26M	24.61M	14.67M	16.12M	16.45M	0.00
Total Liabilities	55.00M	49.78M	32.06M	30.51M	34.38M	31.94M
Stockholders Equity	368.98M	510.61M	307.83M	231.34M	319.11M	256.39M
Cash Flow
Free Cash Flow	-185.05M	-138.37M	-78.56M	-98.22M	-78.24M	-51.91M
Operating Cash Flow	-183.50M	-134.59M	-75.79M	-86.69M	-69.13M	-50.91M
Investing Cash Flow	42.93M	-302.44M	115.72M	-17.05M	-172.68M	-1.00M
Financing Cash Flow	1.58M	337.25M	156.83M	3.08M	118.09M	278.98M

4D Molecular Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FDMT, the sentiment is Negative. The current price of 7.3 is below the 20-day moving average (MA) of 8.70, below the 50-day MA of 9.98, and above the 200-day MA of 6.52, indicating a neutral trend. The MACD of -0.83 indicates Positive momentum. The RSI at 34.42 is Neutral, neither overbought nor oversold. The STOCH value of 37.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FDMT.

4D Molecular Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DSGN	55 Neutral	$522.93M	-7.73	-29.83%	―	―	-40.26%
ASMB	53 Neutral	$499.19M	-6.57	-36.94%	―	31.30%	32.79%
IMRX	52 Neutral	$305.42M	-2.65	-43.75%	―	―	9.32%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
FDMT	47 Neutral	$417.09M	-1.85	-45.38%	―	―	―
KRRO	44 Neutral	$86.17M	-0.97	-63.46%	―	―	21.61%
AURA	42 Neutral	$327.68M	-2.68	-64.26%	―	―	-11.41%

4D Molecular Therapeutics Corporate Events

4D Molecular Therapeutics Expands Leadership With New Director Appointment

On December 31, 2025, Fariborz Kamal, Ph.D., resigned as President and Chief Operating Officer of 4D Molecular Therapeutics to pursue other opportunities, while transitioning to a part-time role as Chief Technical Advisor; the company stated his departure was not due to any disagreement over operations, outlook, or governance. Effective January 1, 2026, current Chief Executive Officer David Kirn, M.D., assumed the additional role of President, consolidating top leadership, and on January 5, 2026, the board appointed veteran biopharma executive Glenn Sblendorio as a Class I director and committee member, granting him standard stock options and cash retainers, moves that collectively signal management continuity and strengthened board expertise in finance, operations, and therapeutic development for the company and its stakeholders.

The most recent analyst rating on (FDMT) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on 4D Molecular Therapeutics stock, see the FDMT Stock Forecast page.

4D Molecular Therapeutics Expands Phase 3 Trial Enrollment

On December 10, 2025, 4D Molecular Therapeutics announced amendments to its Phase 3 clinical trials for 4D-150 in wet AMD, increasing target enrollment from 400 to 480 patients per trial. These changes are aimed at enhancing the trials’ power for global regulatory submissions and reflect the company’s evolving view of the commercial opportunity for 4D-150. The amendments are not expected to impact the company’s financial projections or enrollment timelines, with 4FRONT-1 and 4FRONT-2 trials continuing as planned, targeting completion in 2026 and topline data disclosure in 2027.

The most recent analyst rating on (FDMT) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on 4D Molecular Therapeutics stock, see the FDMT Stock Forecast page.

4D Molecular Therapeutics Appoints New Chief Financial Officer

On November 17, 2025, 4D Molecular Therapeutics, Inc. appointed Kristian Humer as Chief Financial Officer and Principal Financial Officer. Mr. Humer brings extensive experience from his previous roles at Foghorn Therapeutics, Viridian Therapeutics, and Citigroup Global Markets. His compensation package includes a base salary of $520,000, a performance bonus, stock options, and a sign-on bonus. The offer includes severance benefits and conditions tied to a change in control, with no disclosed family or transactional ties affecting his appointment.

The most recent analyst rating on (FDMT) stock is a Buy with a $36.00 price target. To see the full list of analyst forecasts on 4D Molecular Therapeutics stock, see the FDMT Stock Forecast page.

4D Molecular Therapeutics Closes $93.3 Million Stock Offering

On November 6, 2025, 4D Molecular Therapeutics, Inc. entered into an underwriting agreement with Leerink Partners LLC and Evercore Group L.L.C. to issue and sell 8,385,809 shares of its common stock and pre-funded warrants for additional shares, raising approximately $93.3 million in net proceeds. The offering closed on November 7, 2025, and was conducted under a prospectus supplement filed with the SEC, with the company agreeing to indemnify the underwriters against certain liabilities and implementing a lock-up period until January 6, 2026, for its directors and executive officers.

The most recent analyst rating on (FDMT) stock is a Buy with a $45.00 price target. To see the full list of analyst forecasts on 4D Molecular Therapeutics stock, see the FDMT Stock Forecast page.

4D Molecular Therapeutics Reports Positive Interim Trial Results

On November 6, 2025, 4D Molecular Therapeutics announced positive interim results from their Phase 1/2 PRISM clinical trial for 4D-150, a treatment for wet age-related macular degeneration (wet AMD). The data, collected up to August 22, 2025, shows that 4D-150 effectively maintains visual acuity and controls retinal anatomy, while significantly reducing the treatment burden through fewer anti-VEGF injections over a period of up to two years. The trial’s results suggest durable disease control and favorable safety outcomes, positioning 4D-150 as a promising therapeutic option in the ophthalmology market.

The most recent analyst rating on (FDMT) stock is a Buy with a $31.00 price target. To see the full list of analyst forecasts on 4D Molecular Therapeutics stock, see the FDMT Stock Forecast page.

4D Molecular Therapeutics Partners with Otsuka for APAC Market

On October 31, 2025, 4D Molecular Therapeutics entered into a collaboration agreement with Otsuka Pharmaceutical, granting Otsuka exclusive rights to develop and commercialize 4D-150 for ophthalmological diseases in the Asia-Pacific region. This agreement includes an upfront payment of $85 million and potential milestone payments, with both companies sharing development costs. The collaboration is expected to enhance 4D Molecular Therapeutics’ market presence in the APAC region while retaining rights outside these territories, potentially impacting stakeholders positively through expanded market reach and financial gains.

The most recent analyst rating on (FDMT) stock is a Hold with a $12.00 price target. To see the full list of analyst forecasts on 4D Molecular Therapeutics stock, see the FDMT Stock Forecast page.