Foundation Medicine Inc. (FMI) COO Steven J. Kafka Sells 2,135 Shares of Stock
Foundation Medicine Inc. (NASDAQ:FMI) COO Steven J. Kafka sold 2,135 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $23.62, for a total transaction of $50,428.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Foundation Medicine Inc. (NASDAQ:FMI) traded up 0.46% during midday trading on Friday, reaching $23.16. 7,964 shares of the company’s stock traded hands. The firm’s market cap is $808.91 million. Foundation Medicine Inc. has a 52-week low of $13.34 and a 52-week high of $25.31. The firm’s 50-day moving average is $22.58 and its 200 day moving average is $20.30.
Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by $0.05. Foundation Medicine had a negative net margin of 78.06% and a negative return on equity of 34.56%. The company had revenue of $28.24 million for the quarter, compared to analysts’ expectations of $26.72 million. During the same quarter in the prior year, the firm earned ($0.98) EPS. Foundation Medicine’s quarterly revenue was up 25.7% compared to the same quarter last year. Equities research analysts expect that Foundation Medicine Inc. will post ($3.12) earnings per share for the current fiscal year.
Several equities analysts recently weighed in on FMI shares. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $25.00 price target on shares of Foundation Medicine in a research report on Wednesday, August 3rd. BTIG Research reaffirmed a “hold” rating on shares of Foundation Medicine in a research report on Thursday, August 4th. Janney Montgomery Scott cut shares of Foundation Medicine from a “neutral” rating to a “sell” rating and set a $15.00 price target on the stock. in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research cut shares of Foundation Medicine from a “hold” rating to a “sell” rating in a research report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $20.00.
Several institutional investors have recently made changes to their positions in FMI. Barclays PLC boosted its position in shares of Foundation Medicine by 7,965.2% in the first quarter. Barclays PLC now owns 37,503 shares of the company’s stock valued at $675,000 after buying an additional 37,038 shares in the last quarter. State Treasurer State of Michigan acquired a new stake in shares of Foundation Medicine during the second quarter worth $224,000. Murphy Michael R boosted its stake in shares of Foundation Medicine by 9.3% in the first quarter. Murphy Michael R now owns 1,558,392 shares of the company’s stock worth $28,332,000 after buying an additional 132,029 shares during the period. Strs Ohio boosted its stake in shares of Foundation Medicine by 262.5% in the second quarter. Strs Ohio now owns 14,500 shares of the company’s stock worth $270,000 after buying an additional 10,500 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Foundation Medicine by 7.8% in the first quarter. Bessemer Group Inc. now owns 7,250 shares of the company’s stock worth $132,000 after buying an additional 525 shares during the period. Institutional investors own 30.97% 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. The Company’s segment is the business of delivering molecular information about cancer to its customers. Its products provide genomic information about each patient’s individual cancer, enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted oncology therapies.
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