Foundation Medicine, Inc. (NASDAQ:FMI) COO Steven J. Kafka sold 19,708 shares of the firm’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $38.93, for a total transaction of $767,232.44. Following the sale, the chief operating officer now owns 116,728 shares in the company, valued at approximately $4,544,221.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of Foundation Medicine, Inc. (FMI) traded up 1.04% during midday trading on Monday, reaching $38.75. 115,004 shares of the company’s stock were exchanged. The stock’s market cap is $1.38 billion. The stock’s 50 day moving average is $39.19 and its 200-day moving average is $29.62. Foundation Medicine, Inc. has a 12-month low of $17.10 and a 12-month high of $43.15.
Foundation Medicine (NASDAQ:FMI) last announced its earnings results on Tuesday, May 9th. The company reported ($1.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.02) by $0.29. Foundation Medicine had a negative net margin of 126.17% and a negative return on equity of 80.75%. The firm had revenue of $26.32 million during the quarter, compared to analysts’ expectations of $29.07 million. During the same period in the prior year, the company posted ($0.50) EPS. The company’s revenue was down 13.3% compared to the same quarter last year. On average, equities analysts expect that Foundation Medicine, Inc. will post ($4.34) EPS for the current year.
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Several equities analysts recently commented on the stock. BidaskClub lowered shares of Foundation Medicine from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research raised shares of Foundation Medicine from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. ValuEngine raised shares of Foundation Medicine from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BTIG Research raised shares of Foundation Medicine from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Monday, May 15th. Finally, William Blair reissued a “buy” rating on shares of Foundation Medicine in a report on Monday, April 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $30.25.
Several large investors have recently made changes to their positions in the stock. Pioneer Investment Management Inc. bought a new position in Foundation Medicine during the first quarter worth approximately $10,502,000. Bank of New York Mellon Corp boosted its position in Foundation Medicine by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 60,762 shares of the company’s stock worth $1,959,000 after buying an additional 2,232 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in Foundation Medicine during the first quarter worth approximately $218,000. Wells Fargo & Company MN boosted its position in Foundation Medicine by 7.0% in the first quarter. Wells Fargo & Company MN now owns 10,579 shares of the company’s stock worth $341,000 after buying an additional 692 shares during the last quarter. Finally, Whittier Trust Co. boosted its position in Foundation Medicine by 4.8% in the first quarter. Whittier Trust Co. now owns 42,053 shares of the company’s stock worth $1,356,000 after buying an additional 1,914 shares during the last quarter. 31.50% of the stock is currently 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. 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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