Foundation Medicine Inc. (NASDAQ:FMI) COO Steven J. Kafka sold 9,469 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $23.70, for a total transaction of $224,415.30. Following the sale, the chief operating officer now directly owns 108,112 shares of the company’s stock, valued at approximately $2,562,254.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Steven J. Kafka also recently made the following trade(s):
- On Tuesday, July 5th, Steven J. Kafka sold 6,495 shares of Foundation Medicine stock. The shares were sold at an average price of $17.67, for a total transaction of $114,766.65.
Foundation Medicine Inc. (NASDAQ:FMI) opened at 24.27 on Wednesday. Foundation Medicine Inc. has a 12-month low of $13.34 and a 12-month high of $25.31. The firm’s 50 day moving average is $22.81 and its 200 day moving average is $20.02. The company’s market cap is $847.68 million.
Foundation Medicine (NASDAQ:FMI) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.79) by $0.05. The company earned $28.24 million during the quarter, compared to analysts’ expectations of $26.72 million. Foundation Medicine had a negative return on equity of 34.56% and a negative net margin of 78.06%. The company’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.98) EPS. Equities research analysts anticipate that Foundation Medicine Inc. will post ($3.12) EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Foundation Medicine from a “sell” rating to a “hold” rating in a research report on Friday, September 9th. Janney Montgomery Scott downgraded 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 report on Wednesday, August 3rd. BTIG Research reissued a “hold” rating on shares of Foundation Medicine in a research report on Thursday, August 4th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $25.00 target price on shares of Foundation Medicine in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Foundation Medicine presently has a consensus rating of “Hold” and an average target price of $20.00.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Advisors LLC boosted 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 worth $114,000 after buying an additional 641 shares in the last quarter. Bessemer Group Inc. boosted 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 worth $132,000 after buying an additional 525 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Foundation Medicine during the second quarter worth about $135,000. Nationwide Fund Advisors boosted 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 worth $158,000 after buying an additional 726 shares in the last quarter. Finally, State Treasurer State of Michigan bought a new position in Foundation Medicine during the second quarter worth about $224,000. 30.97% of the stock is owned by institutional investors and hedge funds.
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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