Foundation Medicine Inc (NASDAQ:FMI) insider David Daly sold 2,070 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $31.96, for a total transaction of $66,157.20. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Foundation Medicine Inc (NASDAQ:FMI) remained flat at $32.30 during midday trading on Friday. The company had a trading volume of 65,369 shares. The stock has a 50-day moving average of $31.97 and a 200 day moving average of $24.02. Foundation Medicine Inc has a 52 week low of $15.10 and a 52 week high of $35.30. The firm’s market cap is $1.14 billion.
Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.96) by $0.06. Foundation Medicine had a negative return on equity of 42.21% and a negative net margin of 84.67%. The firm had revenue of $28.80 million for the quarter, compared to analysts’ expectations of $29.23 million. During the same period last year, the company posted ($0.55) earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities research analysts predict that Foundation Medicine Inc will post ($3.95) earnings per share for the current year.
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Several brokerages recently weighed in on FMI. Zacks Investment Research raised shares of Foundation Medicine from a “sell” rating to a “hold” rating in a research report on Thursday, April 6th. William Blair restated a “buy” rating on shares of Foundation Medicine in a report on Monday, April 3rd. Finally, Janney Montgomery Scott upgraded shares of Foundation Medicine from a “sell” rating to a “neutral” rating and set a $31.00 target price on the stock in a report on Tuesday, March 7th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $27.33.
Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in Foundation Medicine by 24.7% in the third quarter. Wells Fargo & Company MN now owns 5,360 shares of the company’s stock valued at $125,000 after buying an additional 1,062 shares during the last quarter. Creative Planning increased its position in Foundation Medicine by 10.0% in the first quarter. Creative Planning now owns 4,400 shares of the company’s stock valued at $142,000 after buying an additional 400 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Foundation Medicine by 5.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,898 shares of the company’s stock valued at $193,000 after buying an additional 583 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in Foundation Medicine by 0.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 11,492 shares of the company’s stock valued at $203,000 after buying an additional 93 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in Foundation Medicine by 24.1% in the fourth quarter. GSA Capital Partners LLP now owns 11,500 shares of the company’s stock valued at $204,000 after buying an additional 2,234 shares during the last quarter. 31.44% of the stock is currently owned by hedge funds and other institutional investors.
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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