Foundation Medicine, Inc. (FMI) Director Michael J. Pellini Sells 4,349 Shares
Foundation Medicine, Inc. (NASDAQ:FMI) Director Michael J. Pellini sold 4,349 shares of Foundation Medicine stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $38.80, for a total value of $168,741.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Michael J. Pellini also recently made the following trade(s):
- On Thursday, July 6th, Michael J. Pellini sold 15,856 shares of Foundation Medicine stock. The stock was sold at an average price of $38.84, for a total value of $615,847.04.
Foundation Medicine, Inc. (FMI) traded up 3.39% during midday trading on Wednesday, reaching $41.15. The company had a trading volume of 141,747 shares. The firm’s market capitalization is $1.48 billion. Foundation Medicine, Inc. has a one year low of $17.10 and a one year high of $43.15. The stock’s 50 day moving average price is $39.20 and its 200-day moving average price is $37.27.
Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings results on Tuesday, August 1st. The company reported ($1.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.08) by ($0.16). Foundation Medicine had a negative net margin of 131.79% and a negative return on equity of 109.63%. The company had revenue of $35.00 million during the quarter, compared to analyst estimates of $34.94 million. During the same quarter last year, the company posted ($0.84) EPS. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. On average, equities research analysts anticipate that Foundation Medicine, Inc. will post ($4.67) earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC grew its position in shares of Foundation Medicine by 146.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 579,225 shares of the company’s stock worth $23,024,000 after purchasing an additional 343,770 shares in the last quarter. State Street Corp grew its position in shares of Foundation Medicine by 124.2% during the 2nd quarter. State Street Corp now owns 526,775 shares of the company’s stock worth $20,947,000 after purchasing an additional 291,815 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Foundation Medicine by 38.7% during the 1st quarter. Alliancebernstein L.P. now owns 788,860 shares of the company’s stock worth $25,441,000 after purchasing an additional 220,236 shares in the last quarter. Pier Capital LLC acquired a new position in shares of Foundation Medicine during the 2nd quarter worth approximately $6,126,000. Finally, Adalta Capital Management LLC acquired a new position in shares of Foundation Medicine during the 1st quarter worth approximately $4,056,000. Institutional investors and hedge funds own 31.84% of the company’s stock.
FMI has been the topic of a number of recent research reports. BidaskClub raised Foundation Medicine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded Foundation Medicine from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Foundation Medicine has an average rating of “Hold” and an average price target of $35.00.
About Foundation Medicine
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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