Insider Selling: Steven J. Kafka Unloads 5,000 Shares of Foundation Medicine Stock (FMI)
Foundation Medicine (NYSE:FMI) COO Steven J. Kafka sold 5,000 shares of the stock on the open market in a transaction that occurred on Thursday, June 19th. The shares were sold at an average price of $24.46, for a total value of $122,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Foundation Medicine (NYSE:FMI) traded up 1.16% on Monday, hitting $24.40. 213,635 shares of the company’s stock traded hands. 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 $23.5 and a 200-day moving average of $28.29. The company’s market cap is $687.9 million.
Foundation Medicine (NYSE:FMI) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the 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. The company’s revenue for the quarter was up 120.2% on a year-over-year basis. Analysts expect that Foundation Medicine will post $-1.81 EPS for the current fiscal year.
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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.50.
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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