Foundation Medicine Inc. (FMI) COO Sells $50,428.70 in Stock
Foundation Medicine Inc. (NASDAQ:FMI) COO Steven J. Kafka sold 2,135 shares of the firm’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $23.62, for a total value of $50,428.70. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Foundation Medicine Inc. (NASDAQ:FMI) opened at 23.77 on Thursday. The stock’s market capitalization is $830.21 million. The stock’s 50 day moving average price is $22.60 and its 200 day moving average price is $20.28. Foundation Medicine Inc. has a one year low of $13.34 and a one year high of $25.31.
Foundation Medicine (NASDAQ:FMI) last posted its 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 firm’s revenue was up 25.7% on a year-over-year basis. During the same period last year, the business earned ($0.98) earnings per share. Equities research analysts predict that Foundation Medicine Inc. will post ($3.12) EPS for the current fiscal year.
FMI has been the subject of several recent analyst reports. Zacks Investment Research raised Foundation Medicine from a “sell” rating to a “hold” rating in a research report on Thursday, August 25th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $25.00 price objective on shares of Foundation Medicine in a report on Wednesday, August 3rd. BTIG Research restated a “hold” rating on shares of Foundation Medicine in a research note on Thursday, August 4th. Finally, Janney Montgomery Scott downgraded Foundation Medicine from a “neutral” rating to a “sell” rating and set a $15.00 price target 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 issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $20.00.
A number of hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. raised its stake 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. Geode Capital Management LLC raised its stake in Foundation Medicine by 2.0% in the first quarter. Geode Capital Management LLC now owns 99,571 shares of the company’s stock valued at $1,810,000 after buying an additional 1,919 shares during the period. Murphy Michael R raised its stake in 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. Barclays PLC raised its stake in 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. Finally, Chevy Chase Trust Holdings Inc. raised its stake in Foundation Medicine by 21.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 729,310 shares of the company’s stock valued at $13,609,000 after buying an additional 128,770 shares during the period. 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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