Foundation Medicine Inc. (NASDAQ:FMI) COO Steven J. Kafka sold 2,135 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $23.62, for a total transaction of $50,428.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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 52 week low of $13.34 and a 52 week high of $25.31. The company’s market capitalization is $808.91 million. The firm has a 50-day moving average price of $22.58 and a 200-day moving average price of $20.30.
Foundation Medicine (NASDAQ:FMI) last released its earnings results on Tuesday, August 2nd. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by $0.05. The company earned $28.24 million during the quarter, compared to analyst estimates of $26.72 million. Foundation Medicine had a negative return on equity of 34.56% and a negative net margin of 78.06%. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.98) earnings per share. Analysts forecast that Foundation Medicine Inc. will post ($3.12) earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Advisors LLC boosted its stake 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 during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Foundation Medicine during the second quarter valued at approximately $135,000. Bessemer Group Inc. boosted its stake 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 during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Foundation Medicine by 9.3% in the second quarter. Nationwide Fund Advisors now owns 8,493 shares of the company’s stock valued at $158,000 after buying an additional 726 shares during the last quarter. Finally, State Treasurer State of Michigan acquired a new stake in shares of Foundation Medicine during the second quarter valued at approximately $224,000. Institutional investors and hedge funds own 30.97% of the company’s stock.
A number of brokerages have commented on FMI. Zacks Investment Research raised shares of Foundation Medicine from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. BTIG Research reissued a “hold” rating on shares of Foundation Medicine in a research note on Thursday, August 4th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $25.00 price objective on shares of Foundation Medicine in a research note on Wednesday, August 3rd. Finally, Janney Montgomery Scott cut shares of Foundation Medicine from a “neutral” rating to a “sell” rating and set a $15.00 price objective for the company. in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Foundation Medicine currently has a consensus rating of “Hold” and a consensus 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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