Insider Selling: Michael J. Pellini Sells 12,500 Shares of Foundation Medicine Stock (FMI)
Foundation Medicine (NYSE:FMI) CEO Michael J. Pellini sold 12,500 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $25.29, for a total transaction of $316,125.00. Following the completion of the transaction, the chief executive officer now directly owns 497,500 shares of the company’s stock, valued at approximately $12,581,775. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Foundation Medicine (NYSE:FMI) traded down 5.60% on Thursday, hitting $22.94. 217,891 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 $25.50 and a 200-day moving average of $28.0. The company’s market cap is $648.3 million.
Foundation Medicine (NYSE:FMI) last released its earnings data on Tuesday, August 12th. The company reported ($0.49) EPS for the quarter, missing the Thomson Reuters 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 $-1.88 earnings per share for the current fiscal year.
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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $38.80.
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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