Foundation Medicine Inc. (NASDAQ:FMI) insider David Daly sold 2,045 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $23.65, for a total transaction of $48,364.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Foundation Medicine Inc. (NASDAQ:FMI) opened at 23.52 on Monday. The company’s 50 day moving average price is $22.54 and its 200 day moving average price is $20.34. Foundation Medicine Inc. has a one year low of $13.34 and a one year high of $25.31. The firm’s market capitalization is $821.48 million.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.79) by $0.05. The company had revenue of $28.24 million for 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 business’s revenue was up 25.7% on a year-over-year basis. During the same period last year, the firm posted ($0.98) earnings per share. On average, analysts expect that Foundation Medicine Inc. will post ($3.12) EPS for the current fiscal year.
Several equities analysts have commented on FMI shares. Zacks Investment Research upgraded shares of Foundation Medicine from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Monday, July 4th. Janney Montgomery Scott downgraded Foundation Medicine from a “neutral” rating to a “sell” rating and set a $15.00 price objective for the company. in a report on Wednesday, August 3rd. JPMorgan Chase & Co. reissued a “hold” rating and issued a $25.00 price objective on shares of Foundation Medicine in a report on Wednesday, August 3rd. Finally, BTIG Research reissued a “hold” rating on shares of Foundation Medicine in a report on Thursday, August 4th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Foundation Medicine has an average rating of “Hold” and a consensus price target of $20.00.
A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC raised its position in 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 period. Bessemer Group Inc. raised its position in 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 period. Emerald Acquisition Ltd. bought a new position in Foundation Medicine during the second quarter valued at approximately $135,000. Nationwide Fund Advisors raised its position in 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 period. Finally, State Treasurer State of Michigan bought a new position in Foundation Medicine during the second quarter valued at approximately $224,000. 30.97% of the stock is currently owned by hedge funds and other institutional investors.
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. 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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