Foundation Medicine, Inc. (NASDAQ:FMI) COO Steven J. Kafka sold 11,781 shares of the stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $39.15, for a total transaction of $461,226.15. Following the sale, the chief operating officer now directly owns 97,549 shares in the company, valued at approximately $3,819,043.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Foundation Medicine, Inc. (NASDAQ FMI) traded up 0.78% during trading on Friday, reaching $39.00. 164,498 shares of the company were exchanged. The stock’s market capitalization is $1.40 billion. Foundation Medicine, Inc. has a 52-week low of $17.10 and a 52-week high of $43.15. The firm’s 50 day moving average is $38.47 and its 200 day moving average is $33.50.
Foundation Medicine (NASDAQ:FMI) last issued its quarterly earnings results on Tuesday, August 1st. The company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($1.08) by $0.16. The firm had revenue of $35 million during the quarter, compared to the consensus estimate of $34.94 million. Foundation Medicine had a negative net margin of 131.79% and a negative return on equity of 109.63%. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.84) earnings per share. Analysts expect that Foundation Medicine, Inc. will post ($4.64) EPS for the current year.
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Several hedge funds have recently modified their holdings of FMI. Pioneer Investment Management Inc. purchased a new stake in shares of Foundation Medicine during the first quarter worth approximately $10,502,000. Alliancebernstein L.P. raised its stake in shares of Foundation Medicine by 38.7% in the first quarter. Alliancebernstein L.P. now owns 788,860 shares of the company’s stock worth $25,441,000 after buying an additional 220,236 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in Foundation Medicine by 16.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,096,489 shares of the company’s stock valued at $35,362,000 after buying an additional 154,168 shares during the last quarter. Pier Capital LLC bought a new stake in Foundation Medicine during the second quarter valued at about $6,126,000. Finally, Adalta Capital Management LLC bought a new stake in Foundation Medicine during the first quarter valued at about $4,056,000. Institutional investors own 30.91% of the company’s stock.
FMI has been the topic of several recent analyst reports. BTIG Research upgraded shares of Foundation Medicine from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Monday, May 15th. ValuEngine upgraded shares of Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub lowered shares of Foundation Medicine from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $29.50.
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. It is engaged in the business of delivering molecular information about cancer to its customers. Its platform includes various methods and algorithms for analyzing specimens across various types of cancer.
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