Foundation Medicine Director Sells $29,120,000 in Stock (FMI)
Foundation Medicine (NYSE:FMI) Director Krishna Yeshwant sold 1,300,000 shares of Foundation Medicine stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $22.40, for a total value of $29,120,000.00. The sale 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. 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $41.50.
Shares of Foundation Medicine (NYSE:FMI) traded down 1.69% on Tuesday, hitting $23.32. The stock had a trading volume of 157,279 shares. Foundation Medicine has a 1-year low of $19.513 and a 1-year high of $45.00. The stock has a 50-day moving average of $24.09 and a 200-day moving average of $28.36. The company’s market cap is $657.4 million.
Foundation Medicine (NYSE:FMI) last announced its 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. On average, analysts predict that Foundation Medicine will post $-1.81 earnings per share 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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