Foundation Medicine Inc. (FMI) Insider Sells $48,364.25 in Stock
Foundation Medicine Inc. (NASDAQ:FMI) insider David Daly sold 2,045 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is available through this link.
Foundation Medicine Inc. (NASDAQ:FMI) opened at 23.90 on Tuesday. The stock’s 50 day moving average is $22.55 and its 200-day moving average is $20.44. Foundation Medicine Inc. has a 1-year low of $13.34 and a 1-year high of $25.31. The company’s market capitalization is $834.76 million.
Foundation Medicine (NASDAQ:FMI) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by $0.05. The business 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.98) earnings per share. On average, analysts expect that Foundation Medicine Inc. will post ($3.12) earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of FMI. BlackRock Advisors LLC increased its position in shares of 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 during the period. Emerald Acquisition Ltd. purchased a new position in shares of Foundation Medicine during the second quarter worth approximately $135,000. 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 worth $132,000 after buying an additional 525 shares during the period. Nationwide Fund Advisors increased its position in shares of 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 during the period. Finally, State Treasurer State of Michigan purchased a new position in shares of Foundation Medicine during the second quarter worth approximately $224,000. 30.97% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on FMI shares. Zacks Investment Research upgraded shares of Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. BTIG Research restated a “hold” rating on shares of Foundation Medicine in a research note on Thursday, August 4th. JPMorgan Chase & Co. restated a “hold” rating and issued a $25.00 target price on shares of Foundation Medicine in a research note 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 target price on the stock. in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $20.00.
Foundation Medicine Company Profile
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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