4D Molecular Therapeutics, Inc. (FDMT) Stock

4D Molecular Therapeutics, Inc. (FDMT) is a Healthcare stock trading at $16.07 (as of 2026-08-20), with a market capitalization of $887.29M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

4D Molecular Therapeutics, Inc. develops gene therapy product candidates using adeno-associated virus vectors. Its clinical-stage portfolio includes programs in ophthalmology, cardiology, and pulmonology, with Phase 1/2 candidates 4D-125, 4D-110, and 4D-310, and IND candidates 4D-150 and 4D-710.

Understand 4D Molecular Therapeutics, Inc.: how it makes money

4D Molecular Therapeutics develops clinical-stage gene therapy product candidates using adeno-associated virus vectors, focused on ophthalmology, cardiology, and pulmonology, and it makes money primarily through collaboration and license revenue.

Because its programs are still in clinical trials, the companys near-term profit model depends on collaboration and license revenue rather than product sales.

Revenue by segment (latest quarter)
Collab+License$0.0B

Business quality (Weak): The company has multiple gene therapy candidates in clinical development and provides detailed trial metrics, but the latest quarter shows no revenue and deeply negative operating margin, meaning execution and partner-funded outcomes are central risks.

Bull case

  • Clinical progress visibility: Management reports detailed trial metrics, including randomized patient counts in 4FRONT-1 and multiple measures related to injection burden reduction.
  • Potential to reduce treatment burden: Reported results include Phase 3 dose reduction in injection burden (percent) and fewer injections versus lower doses (percent), which can support differentiation if the programs progress.

Bear case

  • No revenue in the latest period: For the period ended 2026-03-31, revenue and collaboration and license revenue are both 0.0B.
  • Large ongoing losses: The latest period operating margin is -2416.1%, reflecting significant operating losses that can constrain runway if funding or partnerships weaken.
Valuation — source: SEC EDGAR (first-party)
Price$16.07
Market Cap$887.29M
Price / Book2.18
Price / Sales89.04
FCF Yield-31.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$85.21M
Net Margin-164.4%
Revenue Growth (YoY)230194.6%
EPS Growth (YoY)-18.8%
FCF Growth (YoY)-20.8%
Financial Health — source: SEC EDGAR
Altman Z-Score7.33 (safe)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.6
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderJupiter Topco LLC ($76.47M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEODavid H. Kirn
Employees227
CountryUS
IPO Date2020-12-11

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FDMT earnings history · FDMT institutional & insider holders · FDMT KPIs & operating metrics · FDMT financials · FDMT investor presentations & press releases · FDMT SEC filings · FDMT peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.