Foundation Medicine, Inc. (NASDAQ:FMI) COO Steven J. Kafka sold 11,781 shares of Foundation Medicine stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $39.15, for a total transaction of $461,226.15. Following the completion of the transaction, the chief operating officer now directly owns 97,549 shares in the company, valued at approximately $3,819,043.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Foundation Medicine, Inc. (NASDAQ FMI) opened at 37.75 on Friday. The firm’s market capitalization is $1.36 billion. The firm has a 50 day moving average of $39.01 and a 200 day moving average of $32.70. Foundation Medicine, Inc. has a 12-month low of $17.10 and a 12-month high of $43.15.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($1.08) by $0.16. Foundation Medicine had a negative net margin of 131.79% and a negative return on equity of 109.63%. The business had revenue of $35 million for the quarter, compared to analysts’ expectations of $34.94 million. During the same period last year, the business earned ($0.84) earnings per share. The company’s quarterly revenue was up 23.9% on a year-over-year basis. On average, analysts forecast that Foundation Medicine, Inc. will post ($4.53) EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of FMI. Gilder Gagnon Howe & Co. LLC increased its position in Foundation Medicine by 0.5% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,610,865 shares of the company’s stock worth $51,950,000 after buying an additional 7,347 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in Foundation Medicine by 16.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,096,489 shares of the company’s stock worth $35,362,000 after buying an additional 154,168 shares in the last quarter. Alliancebernstein L.P. increased its position in Foundation Medicine by 38.7% in the first quarter. Alliancebernstein L.P. now owns 788,860 shares of the company’s stock worth $25,441,000 after buying an additional 220,236 shares in the last quarter. Vanguard Group Inc. increased its position in Foundation Medicine by 5.2% in the first quarter. Vanguard Group Inc. now owns 583,496 shares of the company’s stock worth $18,817,000 after buying an additional 28,619 shares in the last quarter. Finally, Pioneer Investment Management Inc. increased its position in Foundation Medicine by 13.6% in the second quarter. Pioneer Investment Management Inc. now owns 369,957 shares of the company’s stock worth $14,706,000 after buying an additional 44,315 shares in the last quarter. 31.21% of the stock is currently owned by institutional investors.
FMI has been the topic of several analyst reports. BTIG Research raised shares of Foundation Medicine from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Monday, May 15th. BidaskClub raised shares of Foundation Medicine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. Zacks Investment Research raised shares of Foundation Medicine from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, ValuEngine raised shares of Foundation Medicine from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Foundation Medicine has an average rating of “Hold” and a consensus target price of $29.50.
About Foundation Medicine
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. It is engaged in the business of delivering molecular information about cancer to its customers. Its platform includes various methods and algorithms for analyzing specimens across various types of cancer.
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