Ashoo Gupta, vice president of finance and controller at 4D Molecular Therapeutics, Inc. (NASDAQ:FDMT), reported a sale of 390 shares of the company's common stock at $8.61 per share, for an aggregate value of $3,357, according to a Form 4 filed with the Securities and Exchange Commission.
The filing shows the disposition occurred on March 20, 2026, split into two transactions - one for 310 shares and a second for 80 shares. On the same date, Gupta also recorded the conversion of restricted stock units into common shares, receiving 865 and 221 shares through those conversions.
Market data referenced in the filing notes that 4D Molecular's share price has rallied 134% over the past 12 months and was trading at $9.18 at the time the report referenced the stock's level.
Outside of the insider activity, the company has been the subject of recent analyst commentary tied to its clinical development program. RBC Capital adjusted its outlook in the wake of 4D Molecular's fourth-quarter results, raising a price target to $35 from $32 while maintaining an Outperform rating. The firm also reiterated an Outperform rating accompanied by a $32 price target in commentary that emphasized the company's progress in the retinal disease market.
RBC's notes underline confidence in a North American pivotal study for wet age-related macular degeneration - the study completed enrollment in February 2026 and is reported to be on track for results in the first half of 2027. The company has additionally announced plans to start a pivotal trial for diabetic macular edema, expanding its clinical efforts in retinal indications. Those trial timelines and enrollment readouts were presented as evidence of steady clinical execution by the company.
Separately, an InvestingPro analysis cited in the filing indicates the stock appears undervalued at current levels and referenced 11 additional ProTips available to subscribers that highlight aspects of the company’s financial position and market dynamics.
This mix of insider selling, conversion of restricted stock units, analyst updates and trial progress gives a multi-faceted snapshot of recent activity around 4D Molecular. The insider sale itself was modest in dollar terms relative to typical market capitalization metrics, while the conversions increased the insider's share count via scheduled vesting events.
Given the information available in filings and analyst commentary, the transactions and commentary together portray a company navigating late-stage clinical work with continued attention from equity analysts, while insiders carry out routine securities transactions tied to compensation vesting and occasional disposals.