Insider Selling: Foundation Medicine COO Unloads 4,500 Shares of Stock (FMI)
Foundation Medicine (NYSE:FMI) COO Steven J. Kafka unloaded 4,500 shares of Foundation Medicine stock on the open market in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $24.19, for a total value of $108,855.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
FMI has been the subject of a number of recent research reports. Analysts at Leerink Swann cut their price target on shares of Foundation Medicine from $36.00 to $33.00 in a research note on Friday, May 9th. Separately, analysts at William Blair initiated coverage on shares of Foundation Medicine in a research note on Thursday, April 17th. They set a “market perform” rating on the stock. Finally, analysts at JMP Securities raised their price target on shares of Foundation Medicine from $33.00 to $45.00 in a research note on Monday, March 10th. They now have an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Foundation Medicine has an average rating of “Hold” and a consensus target price of $41.50.
Shares of Foundation Medicine (NYSE:FMI) remained flat at $24.12 during trading on Friday. The stock had a trading volume of 193,043 shares. Foundation Medicine has a 52 week low of $19.513 and a 52 week high of $45.00. The stock has a 50-day moving average of $24.67 and a 200-day moving average of $28.44. The company’s market cap is $680.0 million.
Foundation Medicine (NYSE:FMI) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.44) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.48) by $0.04. The company had revenue of $11.45 million for the quarter, compared to the consensus estimate of $11.33 million. Foundation Medicine’s revenue was up 120.2% compared to the same quarter last year. Analysts expect that Foundation Medicine will post $-1.81 EPS for the current fiscal year.
Foundation Medicine, Inc is a commercial-stage company. The Company is focused on fundamentally changing the way patients with cancer are treated.
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