Foundation Medicine, Inc. (FMI) COO Steven J. Kafka Sells 3,201 Shares
Foundation Medicine, Inc. (NASDAQ:FMI) COO Steven J. Kafka sold 3,201 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $38.80, for a total transaction of $124,198.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Foundation Medicine, Inc. (NASDAQ:FMI) traded up 3.39% during mid-day trading on Wednesday, reaching $41.15. 141,747 shares of the company’s stock were exchanged. The company’s 50-day moving average is $39.20 and its 200 day moving average is $37.27. Foundation Medicine, Inc. has a one year low of $17.10 and a one year high of $43.15. The firm’s market capitalization is $1.48 billion.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($1.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.08) by ($0.16). The business had revenue of $35.00 million during the quarter, compared to analysts’ expectations of $34.94 million. Foundation Medicine had a negative return on equity of 109.63% and a negative net margin of 131.79%. The firm’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the company earned ($0.84) earnings per share. Equities analysts predict that Foundation Medicine, Inc. will post ($4.67) earnings per share for the current fiscal year.
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Several brokerages recently issued reports on FMI. BidaskClub lowered shares of Foundation Medicine from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research lowered shares of Foundation Medicine from a “hold” rating to a “sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.00.
Institutional investors have recently made changes to their positions in the business. Fiduciary Trust Co. bought a new position in Foundation Medicine in the second quarter worth about $119,000. Legal & General Group Plc raised its holdings in Foundation Medicine by 8.6% in the second quarter. Legal & General Group Plc now owns 3,442 shares of the company’s stock worth $138,000 after purchasing an additional 274 shares in the last quarter. Creative Planning raised its holdings in Foundation Medicine by 15.3% in the second quarter. Creative Planning now owns 5,075 shares of the company’s stock worth $202,000 after purchasing an additional 675 shares in the last quarter. Bank of America Corp DE raised its holdings in Foundation Medicine by 65.8% in the first quarter. Bank of America Corp DE now owns 6,180 shares of the company’s stock worth $200,000 after purchasing an additional 2,452 shares in the last quarter. Finally, Voya Investment Management LLC bought a new position in Foundation Medicine in the second quarter worth about $262,000. Institutional investors and hedge funds own 31.84% of the company’s stock.
Foundation Medicine Company Profile
Foundation Medicine, Inc is a molecular information company. The Company sells products that are enabled by its molecular information platform to physicians and biopharmaceutical companies. It is engaged in the business of delivering molecular information about cancer to its customers. Its platform includes various methods and algorithms for analyzing specimens across various types of cancer.
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