Foundation Medicine Inc. (NASDAQ:FMI) COO Steven J. Kafka sold 2,135 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $23.62, for a total transaction of $50,428.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Foundation Medicine Inc. (NASDAQ:FMI) opened at 23.52 on Monday. The stock’s market cap is $821.48 million. Foundation Medicine Inc. has a 12-month low of $13.34 and a 12-month high of $25.31. The stock has a 50 day moving average of $22.54 and a 200 day moving average of $20.34.
Foundation Medicine (NASDAQ:FMI) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $26.72 million. During the same quarter last year, the company earned ($0.98) EPS. The business’s 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.
Institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its position in shares of Foundation Medicine by 7,965.2% in the first quarter. Barclays PLC now owns 37,503 shares of the company’s stock valued at $675,000 after buying an additional 37,038 shares during the period. State Treasurer State of Michigan acquired a new position in shares of Foundation Medicine during the second quarter valued at $224,000. Murphy Michael R increased its position in shares of Foundation Medicine by 9.3% in the first quarter. Murphy Michael R now owns 1,558,392 shares of the company’s stock valued at $28,332,000 after buying an additional 132,029 shares during the period. Strs Ohio increased its position in shares of Foundation Medicine by 262.5% in the second quarter. Strs Ohio now owns 14,500 shares of the company’s stock valued at $270,000 after buying an additional 10,500 shares during the period. Finally, Bessemer Group Inc. increased 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 during the period. Hedge funds and other institutional investors own 30.97% of the company’s stock.
Several equities analysts have weighed in on FMI shares. Zacks Investment Research raised shares of Foundation Medicine from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th. BTIG Research reaffirmed a “hold” rating on shares of Foundation Medicine in a report on Thursday, August 4th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $25.00 price target on shares of Foundation Medicine in a report on Wednesday, August 3rd. Finally, Janney Montgomery Scott downgraded shares of Foundation Medicine from a “neutral” rating to a “sell” rating and set a $15.00 price target on the stock. in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Foundation Medicine presently has a consensus rating of “Hold” and a consensus price target of $20.00.
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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