Is FBRX or FDMT more undervalued in 2026?

CirclFi compares Forte Biosciences, Inc. (FBRX) and 4D Molecular Therapeutics, Inc. (FDMT) using 13 institutional-grade valuation models. FBRX has a Quality of Company score of 4.1/10 while FDMT scores 7.1/10.

Which is a better buy — FBRX or FDMT?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do FBRX and FDMT valuations compare?

FBRX at $20.77 and FDMT at $8.97 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

FBRX vs FDMT Valuation Comparison 2026 — Intrinsic Value Analysis

FBRX

Biotechnology

Forte Biosciences, Inc.

Quality

4.1

out of 10

Value Trap

SAFE

Price

$20.77

Last close

Models

9/13

Active

FDMT

Biotechnology

4D Molecular Therapeutics, Inc.

Quality

7.1

out of 10

Value Trap

SAFE

Price

$8.97

Last close

Models

9/13

Active

Model-by-Model Comparison

Model	Type	FBRX Fair Value	FBRX Upside	FDMT Fair Value	FDMT Upside
Bayesian DCF	Intrinsic	$7.11	-65.8%	$3.01	-66.5%
Earnings Power Value	Intrinsic	$6.28	-77.7%	—	—
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$3.94	-81.0%	$8.24	-8.1%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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FBRX vs FDMT — Which Stock Is More Undervalued?

FDMT scores higher with a 7.1/10 quality rating vs FBRX's 4.1/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Forte Biosciences, Inc. (FBRX) and 4D Molecular Therapeutics, Inc. (FDMT) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

FBRX currently trades at $20.77 with a QOC of 4.1/10, while FDMT trades at $8.97 with a QOC of 7.1/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).