FDMT Stock Analysis: 4D Molecular Therapeutics | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 755m USD | 12M Return: 31.5% | US35104E1001 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 13.9M
Qual. Beats: 0
Rev. Trend: 5.0%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 5.8 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 biotechnology company developing adeno-associated virus (AAV) vectors using its proprietary Therapeutic Vector Evolution platform, with operations based in the Netherlands and the United States. Its pipeline is led by 4D-150, an investigational gene therapy for retinal vascular diseases, including wet age-related macular degeneration and diabetic macular edema, which is designed to provide multi-year sustained anti-VEGF production in the retina via intravitreal injection. Additional candidates include 4D-710 (cystic fibrosis), 4D-175 (geographic atrophy), and 4D-725 (alpha-1 anti-trypsin deficiency lung disease), with the latter two still in preclinical development. The company maintains collaboration and licensing agreements with Otsuka Pharmaceutical Co., Ltd., and was founded in 2013, headquartered in Emeryville, California.
As a clinical-stage gene therapy developer, FDMT competes within the broader biotech sector, where companies typically rely on partnerships, licensing deals, and capital markets to fund lengthy R&D and clinical trial programs before generating recurring product revenue. With a small-cap market capitalization of approximately $755M USD and a December 2020 IPO, FDMT remains a relatively young public company whose valuation is largely tied to pipeline progress and clinical milestones rather than current sales.
- 4D-150 Phase 3 wet AMD data readout expected this year
- Cash runway extends through key 4D-150 pivotal trial milestones
- Otsuka collaboration provides capital and cystic fibrosis pipeline support
- Preclinical assets in geographic atrophy and alpha-1 advance toward IND
| Net Income: -179.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.32 > 0.02 and ΔFCF/TA 4.05 > 1.0 |
| NWC/Revenue: 364.4% < 20% (prev 814k%; Δ -814k% < -1%) |
| CFO/TA -0.32 > 3% & CFO -156.1m > Net Income -179.2m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 8.03 > 1.5 & < 3 |
| Outstanding Shares: last quarter (70.3m) vs 12m ago 25.65% < -2% |
| Gross Margin: 42.00% > 18% (prev -391k%; Δ 391k% > 0.5%) |
| Asset Turnover: 19.04% > 50% (prev 0.01%; Δ 19.04% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.68 (Total Current Assets 383.0m - Total Current Liabilities 47.7m) / Total Assets 492.6m |
| B: -1.74 (Retained Earnings -858.0m / Total Assets 492.6m) |
| C: -0.40 (EBIT TTM -192.3m / Avg Total Assets 483.1m) |
| D: 4.80 (Book Value of Equity 407.7m / Total Liabilities 85.0m) |
| Altman-Z'' = 1.15 = BB |
As of October 09, 2026, the stock is trading at USD 12.70 with a total of 970,761 shares traded. Over the past week, the price has changed by -8.24%, over one month by -13.19%, over three months by -2.46% and over the past year by +31.47%.
Current recommended Stop Loss: 11.50 (which is 9.4% or 1.3 ATR below the current price).
4D Molecular Therapeutics has received a consensus analysts rating of 4.67. Therefore, it is recommended to buy FDMT.
- StrongBuy: 9
- Buy: 2
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 28.2 | 121.9% |
P/S = 8.2079
P/B = 2.0314
Revenue TTM = 92.0m USD
EBIT TTM = -192.3m USD
EBITDA TTM = -184.9m USD
Long Term Debt = 19.6m USD (from longTermDebt, last quarter)
Short Term Debt = 5.37m USD (from shortTermDebt, last quarter)
Debt = 58.8m USD (from shortLongTermDebtTotal, last quarter) + Leases 19.6m
Net Debt = -302.5m USD (calculated: Debt 58.8m - CCE 361.3m)
Enterprise Value = 452.7m USD (755.2m + Debt 58.8m - CCE 361.3m)
Interest Coverage Ratio = unknown (Ebit TTM -192.3m / Interest Expense TTM 0.0)
EV/FCF = -2.89x (Enterprise Value 452.7m / FCF TTM -156.7m)
FCF Yield = -34.61% (FCF TTM -156.7m / Enterprise Value 452.7m)
FCF Margin = -170.3% (FCF TTM -156.7m / Revenue TTM 92.0m)
Net Margin = -194.7% (Net Income TTM -179.2m / Revenue TTM 92.0m)
Gross Margin = 42.00% ((Revenue TTM 92.0m - Cost of Revenue TTM 53.4m) / Revenue TTM)
Gross Margin QoQ = 44.75% (prev 32.56%)
Tobins Q-Ratio = 0.92 (Enterprise Value 452.7m / Total Assets 492.6m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 58.8m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -151.9m (EBIT -192.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 8.03 (Total Current Assets 383.0m / Total Current Liabilities 47.7m)
Debt / Equity = 0.14 (Debt 58.8m / totalStockholderEquity, last quarter 407.7m)
Debt / EBITDA = 1.64 (negative EBITDA) (Net Debt -302.5m / EBITDA -184.9m)
Debt / FCF = 1.93 (negative FCF - burning cash) (Net Debt -302.5m / FCF TTM -156.7m)
Total Stockholder Equity = 433.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -37.09% (Net Income -179.2m / Total Assets 492.6m)
RoE = -41.33% (Net Income TTM -179.2m / Total Stockholder Equity 433.5m)
RoCE = -42.43% (EBIT -192.3m / Capital Employed (Equity 433.5m + L.T.Debt 19.6m))
RoIC = -34.08% (negative operating profit) (NOPAT -151.9m / Invested Capital 445.7m)
WACC = 9.12% (E(755.2m)/V(814.0m) * Re(9.83%) + D(58.8m)/V(814.0m) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 9.83% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 84.97 | Cagr: 17.09%
[DCF] Fair Price = unknown (Cash Flow -156.7m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: 5.03 | Revenue CAGR: 22.75% | SUE: 0.06 | # QB: 0
EPS current Quarter (2026-09-30): EPS=-1.04 | Chg30d=+0.19% | Revisions=+25% | Analysts=11
EPS current Year (2026-12-31): EPS=-4.14 | Chg30d=+0.00% | Revisions=+25% | GrowthEPS=-70.9% | GrowthRev=-84.6%
EPS next Year (2027-12-31): EPS=-4.09 | Chg30d=-0.18% | Revisions=+0% | GrowthEPS=+1.0% | GrowthRev=+56.8%
[Analyst] Revisions Ratio: +15% (up=6, down=4)