Foundation Medicine Inc (NASDAQ:FMI) COO Steven J. Kafka sold 2,157 shares of Foundation Medicine stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $31.96, for a total value of $68,937.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Foundation Medicine Inc (NASDAQ:FMI) remained flat at $32.30 on Friday. The stock had a trading volume of 65,369 shares. The firm’s 50-day moving average price is $31.97 and its 200-day moving average price is $24.02. Foundation Medicine Inc has a 12-month low of $15.10 and a 12-month high of $35.30. The firm’s market cap is $1.14 billion.
Foundation Medicine (NASDAQ:FMI) last announced its earnings results on Wednesday, February 22nd. The company reported ($1.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.96) by $0.06. Foundation Medicine had a negative net margin of 84.67% and a negative return on equity of 42.21%. The business had revenue of $28.80 million for the quarter, compared to the consensus estimate of $29.23 million. During the same period in the prior year, the business posted ($0.55) EPS. Foundation Medicine’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts forecast that Foundation Medicine Inc will post ($3.95) earnings per share for the current year.
FMI has been the topic of several recent research reports. Zacks Investment Research raised Foundation Medicine from a “sell” rating to a “hold” rating in a report on Friday, March 24th. Janney Montgomery Scott raised 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. Finally, William Blair reaffirmed a “buy” rating on shares of Foundation Medicine in a report on Monday, April 3rd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Foundation Medicine presently has a consensus rating of “Hold” and an average target price of $27.33.
Several large investors have recently made changes to their positions in the stock. Creative Planning increased its stake in shares of 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 period. Wells Fargo & Company MN increased its stake in shares of 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 period. Nuveen Fund Advisors LLC purchased a new stake in shares of Foundation Medicine during the third quarter valued at $221,000. Doheny Asset Management CA purchased a new stake in shares of Foundation Medicine during the third quarter valued at $241,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of 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 period. 31.44% of the stock is owned by 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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