Steven J. Kafka Sells 3,361 Shares of Foundation Medicine, Inc. (FMI) Stock
Foundation Medicine, Inc. (NASDAQ:FMI) COO Steven J. Kafka sold 3,361 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $44.62, for a total value of $149,967.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Foundation Medicine, Inc. (FMI) opened at 42.35 on Wednesday. Foundation Medicine, Inc. has a 1-year low of $17.10 and a 1-year high of $47.35. The firm’s 50-day moving average price is $40.88 and its 200 day moving average price is $37.96. The company’s market capitalization is $1.53 billion.
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 Thomson Reuters’ 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 firm had revenue of $35.00 million during the quarter, compared to the consensus estimate of $34.94 million. During the same period in the previous year, the business earned ($0.84) earnings per share. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. Equities analysts predict that Foundation Medicine, Inc. will post ($4.67) EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the business. Fiduciary Trust Co. bought a new position in Foundation Medicine in the 2nd quarter valued at $119,000. Legal & General Group Plc boosted its holdings in Foundation Medicine by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 3,442 shares of the company’s stock valued at $138,000 after purchasing an additional 274 shares during the period. Creative Planning boosted its holdings in Foundation Medicine by 15.3% in the 2nd quarter. Creative Planning now owns 5,075 shares of the company’s stock valued at $202,000 after purchasing an additional 675 shares during the period. Bank of America Corp DE boosted its holdings in Foundation Medicine by 65.8% in the 1st quarter. Bank of America Corp DE now owns 6,180 shares of the company’s stock valued at $200,000 after purchasing an additional 2,452 shares during the period. Finally, Voya Investment Management LLC bought a new position in Foundation Medicine in the 2nd quarter valued at $262,000. 31.84% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. BidaskClub upgraded Foundation Medicine from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 8th. Zacks Investment Research cut Foundation Medicine from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus 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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