FDMT Stock Analysis: 4D Molecular Therapeutics | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 813m USD | 12M Return: 155.1% | US35104E1001 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 7.22M
Qual. Beats: 0
Rev. Trend: 5.0%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 5.6 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: -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 -194.2m / Avg Total Assets 483.1m) |
| D: 4.80 (Book Value of Equity 407.7m / Total Liabilities 85.0m) |
| Altman-Z'' = 1.12 = BB |
As of August 20, 2026, the stock is trading at USD 16.76 with a total of 1,791,004 shares traded. Over the past week, the price has changed by +41.20%, over one month by +51.13%, over three months by +99.41% and over the past year by +155.10%.
Current recommended Stop Loss: 15.60 (which is 6.9% or 1.3 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 | 29.1 | 73.6% |
P/S = 8.8383
P/B = 1.9731
Revenue TTM = 92.0m USD
EBIT TTM = -194.2m USD
EBITDA TTM = -186.8m USD
Long Term Debt = 14.3m USD (estimated: total debt 19.6m - short term 5.37m)
Short Term Debt = 5.37m USD (from shortTermDebt, last quarter)
Debt = 19.6m USD (from shortLongTermDebtTotal, last quarter) (leases 20.5m already included)
Net Debt = -341.7m USD (calculated: Debt 19.6m - CCE 361.3m)
Enterprise Value = 471.5m USD (813.2m + Debt 19.6m - CCE 361.3m)
Interest Coverage Ratio = unknown (Ebit TTM -194.2m / Interest Expense TTM 0.0)
EV/FCF = -3.01x (Enterprise Value 471.5m / FCF TTM -156.7m)
FCF Yield = -33.23% (FCF TTM -156.7m / Enterprise Value 471.5m)
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 = 0.96 (Enterprise Value 471.5m / Total Assets 492.6m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 19.6m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -153.4m (EBIT -194.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 8.03 (Total Current Assets 383.0m / Total Current Liabilities 47.7m)
Debt / Equity = 0.05 (Debt 19.6m / totalStockholderEquity, last quarter 407.7m)
Debt / EBITDA = 1.83 (negative EBITDA) (Net Debt -341.7m / EBITDA -186.8m)
Debt / FCF = 2.18 (negative FCF - burning cash) (Net Debt -341.7m / 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 = -43.36% (EBIT -194.2m / Capital Employed (Equity 433.5m + L.T.Debt 14.3m))
RoIC = -34.42% (negative operating profit) (NOPAT -153.4m / Invested Capital 445.7m)
WACC = 8.83% (E(813.2m)/V(832.8m) * Re(9.04%) + D(19.6m)/V(832.8m) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 9.04% (= 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=-2.88% | Revisions=-25% | Analysts=10
EPS current Year (2026-12-31): EPS=-4.14 | Chg30d=-5.36% | Revisions=-40% | GrowthEPS=-70.9% | GrowthRev=-85.0%
EPS next Year (2027-12-31): EPS=-4.09 | Chg30d=-9.71% | Revisions=-40% | GrowthEPS=+1.2% | GrowthRev=+66.1%
[Analyst] Revisions Ratio: -62% (up=0, down=5)