FDMT Stock Analysis: 4D Molecular Therapeutics | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 606m USD | 12M Return: 205.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 10.00M
Qual. Beats: 0
Rev. Trend: -12.8%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 5.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
4D Molecular Therapeutics (NASDAQ: FDMT) is a late-stage clinical biotechnology company developing adeno-associated virus (AAV) gene therapies using its proprietary Therapeutic Vector Evolution discovery platform, with operations in the United States and the Netherlands. The companys pipeline is led by 4D-150, an intravitreal gene therapy designed to provide multi-year anti-VEGF expression for wet age-related macular degeneration and diabetic macular edema. Additional programs include 4D-710 for cystic fibrosis, 4D-175 for geographic atrophy, and 4D-725 for alpha-1 anti-trypsin deficiency lung disease, all in earlier development stages. The company has collaboration and licensing agreements with Otsuka Pharmaceutical and is headquartered in Emeryville, California.
As a clinical-stage biotech, 4DMT operates in a high-risk, R&D-intensive sub-sector of healthcare where revenue is typically generated through partnerships and licensing agreements rather than product sales until late-stage approval and commercialization. Founded in 2013 and publicly listed since its 2020 IPO, the company focuses on leveraging engineered AAV capsids to target specific tissues, a differentiated approach within the gene therapy field.
- 4D-150 phase 3 wet AMD data readout looms
- Cash burn rate and runway guide dilution risk
- Otsuka partnership milestone payments offset operating losses
| Net Income: -160.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.25 > 0.02 and ΔFCF/TA 5.08 > 1.0 |
| NWC/Revenue: 410.2% < 20% (prev 1.33m%; Δ -1.33m% < -1%) |
| CFO/TA -0.25 > 3% & CFO -129.4m > Net Income -160.9m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 9.34 > 1.5 & < 3 |
| Outstanding Shares: last quarter (68.1m) vs 12m ago 22.10% < -2% |
| Gross Margin: -12.45% > 18% (prev -490k%; Δ 490k% > 0.5%) |
| Asset Turnover: 17.16% > 50% (prev 0.00%; Δ 17.15% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.71 (Total Current Assets 405.4m - Total Current Liabilities 43.4m) / Total Assets 512.9m |
| B: -1.53 (Retained Earnings -785.1m / Total Assets 512.9m) |
| C: -0.33 (EBIT TTM -169.9m / Avg Total Assets 514.3m) |
| D: 7.40 (Book Value of Equity 451.8m / Total Liabilities 61.1m) |
| Altman-Z'' = 5.19 = AAA |
As of July 02, 2026, the stock is trading at USD 12.69 with a total of 1,072,074 shares traded. Over the past week, the price has changed by +9.21%, over one month by +30.69%, over three months by +28.57% and over the past year by +205.78%.
Current recommended Stop Loss: 11.00 (which is 13.3% or 1.8 ATR below the current price).
4D Molecular Therapeutics has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy FDMT.
- StrongBuy: 5
- Buy: 4
- Hold: 2
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 28.2 | 122.4% |
P/S = 6.8721
P/B = 1.3421
Revenue TTM = 88.2m USD
EBIT TTM = -169.9m USD
EBITDA TTM = -163.4m USD
Long Term Debt = 15.0m USD (estimated: total debt 20.5m - short term 5.49m)
Short Term Debt = 5.49m USD (from shortTermDebt, last quarter)
Debt = 20.5m USD (from shortLongTermDebtTotal, last quarter) (leases 20.5m already included)
Net Debt = -370.4m USD (calculated: Debt 20.5m - CCE 390.9m)
Enterprise Value = 236.0m USD (606.4m + Debt 20.5m - CCE 390.9m)
Interest Coverage Ratio = unknown (Ebit TTM -169.9m / Interest Expense TTM 0.0)
EV/FCF = -1.81x (Enterprise Value 236.0m / FCF TTM -130.1m)
FCF Yield = -55.10% (FCF TTM -130.1m / Enterprise Value 236.0m)
FCF Margin = -147.4% (FCF TTM -130.1m / Revenue TTM 88.2m)
Net Margin = -182.3% (Net Income TTM -160.9m / Revenue TTM 88.2m)
Gross Margin = -12.45% ((Revenue TTM 88.2m - Cost of Revenue TTM 99.2m) / Revenue TTM)
Gross Margin QoQ = 32.56% (prev none%)
Tobins Q-Ratio = 0.46 (Enterprise Value 236.0m / Total Assets 512.9m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 20.5m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -134.2m (EBIT -169.9m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 9.34 (Total Current Assets 405.4m / Total Current Liabilities 43.4m)
Debt / Equity = 0.05 (Debt 20.5m / totalStockholderEquity, last quarter 451.8m)
Debt / EBITDA = 2.27 (negative EBITDA) (Net Debt -370.4m / EBITDA -163.4m)
Debt / FCF = 2.85 (negative FCF - burning cash) (Net Debt -370.4m / FCF TTM -130.1m)
Total Stockholder Equity = 436.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -31.28% (Net Income -160.9m / Total Assets 512.9m)
RoE = -36.83% (Net Income TTM -160.9m / Total Stockholder Equity 436.8m)
RoCE = -37.59% (EBIT -169.9m / Capital Employed (Equity 436.8m + L.T.Debt 15.0m))
RoIC = -28.52% (negative operating profit) (NOPAT -134.2m / Invested Capital 470.6m)
WACC = 9.57% (E(606.4m)/V(626.9m) * Re(9.89%) + D(20.5m)/V(626.9m) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 9.89% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.11 | Cagr: 27.89%
[DCF] Fair Price = unknown (Cash Flow -130.1m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.37 | # QB: 0
Revenue Correlation: -12.83 | Revenue CAGR: -39.03% | SUE: 0.03 | # QB: 0
EPS current Quarter (2026-09-30): EPS=-1.01 | Chg30d=-3.32% | Revisions=+0% | Analysts=8
EPS current Year (2026-12-31): EPS=-3.92 | Chg30d=-2.46% | Revisions=+0% | GrowthEPS=-62.0% | GrowthRev=-86.4%
EPS next Year (2027-12-31): EPS=-3.72 | Chg30d=+3.40% | Revisions=-9% | GrowthEPS=+5.0% | GrowthRev=+50.9%
[Analyst] Revisions Ratio: -9%