Foundation Medicine CEO Unloads $411,300 in Stock (FMI)
Foundation Medicine (NYSE:FMI) CEO Michael J. Pellini sold 15,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $27.42, for a total value of $411,300.00. Following the completion of the sale, the chief executive officer now directly owns 510,000 shares in the company, valued at approximately $13,984,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Foundation Medicine (NYSE:FMI) opened at 29.30 on Friday. 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 $23.71 and a 200-day moving average of $28.47. The company’s market cap is $826.0 million.
Foundation Medicine (NYSE:FMI) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.44) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.48) by $0.04. The company had revenue of $11.45 million for the quarter, compared to the consensus estimate of $11.33 million. Foundation Medicine’s revenue was up 120.2% compared to the same quarter last year. Analysts expect that Foundation Medicine will post $-1.82 EPS for the current fiscal year.
Several analysts have recently commented 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. Separately, analysts at Leerink Swann cut their price target on shares of Foundation Medicine from $36.00 to $33.00 in a research note on Friday, May 9th. Finally, analysts at William Blair initiated coverage on shares of Foundation Medicine in a research note on Thursday, April 17th. They set a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Foundation Medicine presently has an average 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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