Foundation Medicine Inc. (FMI) SVP Robert W. Hesslein Sells 1,220 Shares of Stock
Foundation Medicine Inc. (NASDAQ:FMI) SVP Robert W. Hesslein sold 1,220 shares of Foundation Medicine stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $23.65, for a total value of $28,853.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Foundation Medicine Inc. (NASDAQ:FMI) traded up 0.46% during mid-day trading on Friday, reaching $23.16. The company had a trading volume of 7,964 shares. Foundation Medicine Inc. has a 12-month low of $13.34 and a 12-month high of $25.31. The firm’s 50 day moving average is $22.58 and its 200-day moving average is $20.30. The stock’s market capitalization is $808.91 million.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings data 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. The business earned $28.24 million during the quarter, compared to the consensus estimate of $26.72 million. Foundation Medicine had a negative net margin of 78.06% and a negative return on equity of 34.56%. Foundation Medicine’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.98) EPS. On average, analysts expect that Foundation Medicine Inc. will post ($3.12) earnings per share for the current fiscal year.
Several analysts have recently weighed in on FMI shares. Zacks Investment Research raised Foundation Medicine from a “sell” rating to a “hold” rating in a report on Thursday, August 25th. JPMorgan Chase & Co. reissued a “hold” rating and set a $25.00 price objective on shares of Foundation Medicine in a report on Wednesday, August 3rd. BTIG Research reissued a “hold” rating on shares of Foundation Medicine in a report on Thursday, August 4th. Finally, Janney Montgomery Scott lowered Foundation Medicine from a “neutral” rating to a “sell” rating and set a $15.00 price objective on the stock. in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Foundation Medicine has a consensus rating of “Hold” and an average price target of $20.00.
Hedge funds have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC raised its stake in Foundation Medicine by 0.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,014,913 shares of the company’s stock valued at $37,598,000 after buying an additional 13,515 shares in the last quarter. Murphy Michael R raised its stake in Foundation Medicine by 1.0% in the second quarter. Murphy Michael R now owns 1,574,711 shares of the company’s stock valued at $29,384,000 after buying an additional 16,319 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Foundation Medicine by 25.9% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 918,058 shares of the company’s stock valued at $21,437,000 after buying an additional 188,748 shares in the last quarter. BlackRock Fund Advisors raised its stake in Foundation Medicine by 4.0% in the second quarter. BlackRock Fund Advisors now owns 764,547 shares of the company’s stock valued at $14,266,000 after buying an additional 29,391 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Foundation Medicine by 59.5% in the second quarter. Oppenheimer & Co. Inc. now owns 673,921 shares of the company’s stock valued at $12,576,000 after buying an additional 251,370 shares in the last quarter. Hedge funds and other 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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