Foundation Medicine, Inc. (FMI) Director Michael J. Pellini Sells 30,000 Shares
Foundation Medicine, Inc. (NASDAQ:FMI) Director Michael J. Pellini sold 30,000 shares of Foundation Medicine stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $39.52, for a total value of $1,185,600.00. Following the sale, the director now directly owns 275,077 shares in the company, valued at $10,871,043.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
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 shares were sold at an average price of $38.84, for a total value of $615,847.04.
Shares of Foundation Medicine, Inc. (FMI) traded down 1.15% during mid-day trading on Thursday, hitting $38.70. The stock had a trading volume of 165,527 shares. The firm has a 50 day moving average price of $38.64 and a 200-day moving average price of $33.32. The stock’s market cap is $1.39 billion. Foundation Medicine, Inc. has a 12 month low of $17.10 and a 12 month high of $43.15.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings results on Tuesday, August 1st. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.08) by $0.16. The firm had revenue of $35 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 business’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.84) earnings per share. On average, equities research analysts forecast that Foundation Medicine, Inc. will post ($4.59) EPS for the current year.
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A number of analysts have recently commented on the company. BidaskClub raised Foundation Medicine from a “strong sell” rating to a “sell” rating in a research note on Tuesday. ValuEngine raised Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BTIG Research raised Foundation Medicine from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $29.50.
Several institutional investors have recently added to or reduced their stakes in FMI. Pioneer Investment Management Inc. purchased a new position in Foundation Medicine during the first quarter worth about $10,502,000. Alliancebernstein L.P. increased its position in Foundation Medicine by 38.7% in the first quarter. Alliancebernstein L.P. now owns 788,860 shares of the company’s stock worth $25,441,000 after buying an additional 220,236 shares during the period. Pier Capital LLC purchased a new position in Foundation Medicine during the second quarter worth about $6,126,000. Adalta Capital Management LLC purchased a new position in Foundation Medicine during the first quarter worth about $4,056,000. Finally, Baillie Gifford & Co. increased its position in Foundation Medicine by 42.0% in the second quarter. Baillie Gifford & Co. now owns 248,300 shares of the company’s stock worth $9,870,000 after buying an additional 73,500 shares during the period. Hedge funds and other institutional investors own 30.91% of the company’s stock.
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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