Foundation Medicine (FMI) Upgraded to “Buy” at BidaskClub
Foundation Medicine (NASDAQ:FMI) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
Separately, Zacks Investment Research downgraded shares of Foundation Medicine from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $45.33.
Foundation Medicine (NASDAQ FMI) traded down $1.35 during trading hours on Tuesday, hitting $62.45. 203,427 shares of the stock traded hands, compared to its average volume of 234,085. Foundation Medicine has a 1-year low of $17.10 and a 1-year high of $70.75. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.24 and a quick ratio of 2.03.
In related news, CFO Jason Ryan sold 21,726 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $61.26, for a total transaction of $1,330,934.76. Following the completion of the transaction, the chief financial officer now directly owns 55,639 shares in the company, valued at $3,408,445.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Evan/ Fa Jones sold 6,500 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $60.66, for a total transaction of $394,290.00. Following the transaction, the director now owns 19,652 shares of the company’s stock, valued at $1,192,090.32. The disclosure for this sale can be found here. Insiders have sold 84,057 shares of company stock valued at $4,588,768 over the last 90 days. 2.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fiduciary Trust Co. purchased a new position in Foundation Medicine in the second quarter valued at $119,000. Legal & General Group Plc increased 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 valued at $138,000 after buying an additional 274 shares in the last quarter. Bank of America Corp DE increased 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 valued at $200,000 after buying an additional 2,452 shares in the last quarter. SG Americas Securities LLC increased its holdings in Foundation Medicine by 36.6% in the third quarter. SG Americas Securities LLC now owns 6,481 shares of the company’s stock valued at $261,000 after buying an additional 1,736 shares in the last quarter. Finally, Voya Investment Management LLC purchased a new position in Foundation Medicine in the second quarter valued at $262,000. 33.44% of the stock is owned by institutional investors.
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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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