FDMT

4D Molecular Therapeutics

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Healthcare

industry

Biotechnology

Exchange

Nasdaq

County of HQ

United States

Next Earnings Date

05/14/26

Business Summary

4D Molecular Therapeutics is a clinical-stage biotechnology company focused on developing genetic medicines, using engineered viral vectors to deliver therapeutic genes to targeted tissues. Its business model centers on investing heavily in R&D to build a pipeline of proprietary candidates, with value realization typically occurring through partnerships, licensing, or eventual commercialization of approved therapies. Cash generation is back-end loaded, meaning years of operating losses precede any meaningful product revenue. Its moat, if realized, lies in its vector engineering platform and intellectual property, which can create high switching costs and defensible therapeutic niches once clinical efficacy and regulatory approval are achieved.

VALUATION

P/E

-

Market Cap ($M USD)

$500

Forward P/E

-

PEG

-

PRICE TO SALES

6.7

PRICE TO BOOK

1

EV / EBITDA

-0.8

5-Year Average P/E

DIVIDEND

Yield

-

Annual Payout

-

Payout Ratio

-

Consecutive Years of Dividend Growth

0

5-Year Dividend Growth Rate

-

Financial Health & Profitability

Earnings Per Share

-$2.42

Next Year EPS Growth Estimate

-$3.86

Next Year Revenue Growth Estimate

66.70%

Return on Equity (ROE)

-27.70%

Operating Margin

-187.20%

Debt-to-Equity

0

Piotroski F-Score

4

Altman Z-Score

3.2

Return on Invested Capital (ROIC)

-30.00%%

Current Ratio

9.4

Quick Ratio

Gainseekers Quantitative Analysis

Summary

The balance sheet says survival, the income statement says destruction. With no P/E or Forward P/E and a negative EPS of -0.8 worsening to an estimated -$2.42 next year, this is a pure cash-burn biotechnology bet rather than an earnings-driven compounder. A Price/Sales of 6.7 against negative operating margins of -27.70% and ROIC of -30.00% is not cheap on fundamentals, even with a modest $500M market cap. However, the Altman Z-Score of 3.2 and a massive Current Ratio of 9.4 signal low near-term bankruptcy risk, meaning the company has time to execute despite heavy losses. This is not mispriced because of hidden profitability—it is priced as a speculative clinical-stage biotech with balance-sheet breathing room but no visible earnings power.

AI Exposure / Tech Reliance

As a biotechnology company, its competitive survival depends on leveraging advanced molecular engineering and data-driven drug development platforms, areas increasingly influenced by AI-enabled discovery and optimization. The Healthcare/Biotechnology sector is structurally aligned with computational biology and machine learning applications, which can compress development timelines and improve candidate selection. However, without profitability or operating leverage yet, technological adaptability must translate into pipeline success before it impacts financial resilience.

The Bull Case

A deep value or GARP investor could argue that the market is valuing the company at just $500M while it maintains a strong liquidity cushion, evidenced by a 9.4 Current Ratio and an Altman Z-Score of 3.2, reducing insolvency risk. The Price/Book of 1 suggests the equity is trading roughly at its accounting value, which can be compelling in biotech when intellectual property upside is not fully capitalized. A Piotroski F-Score of 4 is neutral rather than distressed, indicating the company is not in outright financial collapse. Institutional Ownership at $31.11 implies meaningful professional participation, and the absence of dividend obligations preserves capital for reinvestment. For investors comfortable underwriting clinical and commercialization risk, this is a balance-sheet-supported optionality play rather than a momentum-driven story.

The Bear Case

The red flags are severe. Operating Margin at -27.70%, ROIC at -30.00%, and worsening EPS expectations to -$2.42 next year show negative economic returns with no near-term inflection embedded in the numbers. Debt/Equity of -187.20% signals a highly distorted capital structure, likely reflecting accumulated deficits and fragile equity dynamics. There is no Forward P/E or PEG Forward to anchor growth expectations, and Sales Growth Next Year of -$3.86 indicates deterioration rather than expansion. Consensus Rating at 21.10% and a Mean Consensus Target Price of 1.58 suggest limited analyst conviction, reinforcing that this remains a high-risk capital story dependent on uncertain milestones rather than financial momentum.

Market Sentiment & Smart Money

Short Interest %

21.10%

Analyst Consensus

1.58

Average Analyst Price Target

$31.11

Institutional Ownership %

107.00%

1-Year Beta

1.46

Insider Buying % (6 Mo)

3.60%%

Distance to 52-Week High

79.50%%

Distance to 52-Week Low

398.00%%