FDMT Stock Analysis: 4D Molecular Therapeutics | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 575m USD | 12M Return: 143.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 11.3M
Qual. Beats: 0
Rev. Trend: -12.8%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
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 23, 2026, the stock is trading at USD 10.96 with a total of 688,373 shares traded. Over the past week, the price has changed by -6.16%, over one month by +5.18%, over three months by +11.84% and over the past year by +143.56%.
Current recommended Stop Loss: 9.20 (which is 16.1% or 2 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 | 157.5% |
P/S = 6.5107
P/B = 1.2715
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 = 204.2m USD (574.5m + Debt 20.5m - CCE 390.9m)
Interest Coverage Ratio = unknown (Ebit TTM -169.9m / Interest Expense TTM 0.0)
EV/FCF = -1.57x (Enterprise Value 204.2m / FCF TTM -130.1m)
FCF Yield = -63.70% (FCF TTM -130.1m / Enterprise Value 204.2m)
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 = 0.40 (Enterprise Value 204.2m / 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 = 9.13% (E(574.5m)/V(595.1m) * Re(9.46%) + D(20.5m)/V(595.1m) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 9.46% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 83.57 | 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 (2026-06-30): EPS=-1.01 | Chg30d=-0.25% | Revisions=-25% | Analysts=8
EPS next Quarter (2026-09-30): EPS=-1.01 | Chg30d=-0.13% | Revisions=-25% | Analysts=8
EPS current Year (2026-12-31): EPS=-3.93 | Chg30d=-0.17% | Revisions=-25% | GrowthEPS=-62.2% | GrowthRev=-86.4%
EPS next Year (2027-12-31): EPS=-3.77 | Chg30d=-1.14% | Revisions=-25% | GrowthEPS=+4.1% | GrowthRev=+50.9%
[Analyst] Revisions Ratio: -57% (up=0, down=4)