Foundation Medicine Inc. (NASDAQ:FMI) insider David Daly sold 2,045 shares of the stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $23.65, for a total value of $48,364.25. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Foundation Medicine Inc. (NASDAQ:FMI) traded up 0.46% during trading on Friday, reaching $23.16. 7,964 shares of the company traded hands. Foundation Medicine Inc. has a 12-month low of $13.34 and a 12-month high of $25.31. The stock’s market capitalization is $808.91 million. The firm’s 50 day moving average is $22.58 and its 200-day moving average is $20.30.
Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by $0.05. Foundation Medicine had a negative net margin of 78.06% and a negative return on equity of 34.56%. The company had revenue of $28.24 million for the quarter, compared to analysts’ expectations of $26.72 million. During the same quarter in the prior year, the firm earned ($0.98) EPS. Foundation Medicine’s quarterly revenue was up 25.7% compared to the same quarter last year. On average, equities research analysts anticipate that Foundation Medicine Inc. will post ($3.12) earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in FMI. Royal Bank of Canada boosted its position in shares of Foundation Medicine by 0.4% in the second quarter. Royal Bank of Canada now owns 25,676 shares of the company’s stock valued at $479,000 after buying an additional 100 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Foundation Medicine by 1.7% in the second quarter. ProShare Advisors LLC now owns 27,402 shares of the company’s stock valued at $511,000 after buying an additional 449 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Foundation Medicine by 1.2% in the second quarter. Whittier Trust Co. now owns 39,835 shares of the company’s stock valued at $743,000 after buying an additional 483 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Foundation Medicine by 7.8% in the first quarter. Bessemer Group Inc. now owns 7,250 shares of the company’s stock valued at $132,000 after buying an additional 525 shares in the last quarter. Finally, BlackRock Advisors LLC boosted its position in shares of Foundation Medicine by 11.7% in the second quarter. BlackRock Advisors LLC now owns 6,107 shares of the company’s stock valued at $114,000 after buying an additional 641 shares in the last quarter. Institutional investors own 30.97% of the company’s stock.
FMI has been the subject of several research reports. JPMorgan Chase & Co. restated a “hold” rating and issued a $25.00 target price on shares of Foundation Medicine in a research note on Wednesday, August 3rd. BTIG Research restated a “hold” rating on shares of Foundation Medicine in a research note on Thursday, August 4th. Janney Montgomery Scott downgraded Foundation Medicine from a “neutral” rating to a “sell” rating and set a $15.00 target price for the company. in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research downgraded Foundation Medicine from a “hold” rating to a “sell” rating in a research note on Wednesday, August 31st. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Foundation Medicine presently has a consensus rating of “Hold” and an average price target of $20.00.
Foundation Medicine Company Profile
Foundation Medicine, Inc is a molecular information company. The Company sells products that are enabled by its molecular information platform to physicians and biopharmaceutical companies. The Company’s segment is the business of delivering molecular information about cancer to its customers. Its products provide genomic information about each patient’s individual cancer, enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted oncology therapies.
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