Insider Selling: Foundation Medicine CEO Unloads 12,500 Shares of Stock (FMI)
Foundation Medicine (NYSE:FMI) CEO Michael J. Pellini unloaded 12,500 shares of Foundation Medicine stock on the open market in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $25.29, for a total value of $316,125.00. Following the completion of the transaction, the chief executive officer now directly owns 497,500 shares in the company, valued at approximately $12,581,775. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Tigress Financial initiated coverage on shares of Foundation Medicine in a research note on Friday, August 1st. They set a “neutral” rating on the stock. Analysts at Janney Montgomery Scott initiated coverage on shares of Foundation Medicine in a research note on Wednesday, June 25th. They set a “neutral” rating and a $28.00 price target on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $38.80.
Shares of Foundation Medicine (NYSE:FMI) traded down 0.28% on Tuesday, hitting $24.98. 117,453 shares of the company’s stock traded hands. 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 $25.65 and a 200-day moving average of $28.08. The company’s market cap is $705.9 million.
Foundation Medicine (NYSE:FMI) last announced its earnings results on Tuesday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.48) by $0.01. The company had revenue of $14.50 million for the quarter, compared to the consensus estimate of $13.39 million. On average, analysts predict that Foundation Medicine will post $-1.90 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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