Chevy Chase Trust Holdings Inc. boosted its stake in shares of Foundation Medicine Inc. (NASDAQ:FMI) by 25.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 918,058 shares of the company’s stock after buying an additional 188,748 shares during the period. Chevy Chase Trust Holdings Inc. owned about 2.63% of Foundation Medicine worth $21,437,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada raised its stake in shares of Foundation Medicine by 0.4% in the second quarter. Royal Bank of Canada now owns 25,676 shares of the company’s stock valued at $479,000 after buying an additional 100 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Foundation Medicine by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 47,447 shares of the company’s stock worth $886,000 after buying an additional 672 shares during the last quarter. Murphy Michael R raised its stake in shares of Foundation Medicine by 1.0% in the second quarter. Murphy Michael R now owns 1,574,711 shares of the company’s stock worth $29,384,000 after buying an additional 16,319 shares during the last quarter. State Street Corp raised its stake in shares of Foundation Medicine by 7.2% in the second quarter. State Street Corp now owns 201,473 shares of the company’s stock worth $3,761,000 after buying an additional 13,519 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in shares of Foundation Medicine by 210.2% in the second quarter. Lord Abbett & CO. LLC now owns 210,912 shares of the company’s stock worth $3,935,000 after buying an additional 142,918 shares during the last quarter. 31.29% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Foundation Medicine (NASDAQ:FMI)

Shares of Foundation Medicine Inc. (NASDAQ:FMI) opened at 22.65 on Friday. The company’s 50-day moving average is $22.49 and its 200-day moving average is $21.37. Foundation Medicine Inc. has a 12-month low of $13.34 and a 12-month high of $25.31. The company’s market capitalization is $794.06 million.

Foundation Medicine (NASDAQ:FMI) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.90) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.88) by $0.02. Foundation Medicine had a negative return on equity of 42.21% and a negative net margin of 84.67%. The business had revenue of $29.43 million for the quarter, compared to analysts’ expectations of $28.70 million. During the same quarter in the previous year, the firm posted ($0.60) EPS. Foundation Medicine’s revenue was up 15.9% on a year-over-year basis. Analysts predict that Foundation Medicine Inc. will post ($3.21) EPS for the current year.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Foundation Medicine from a “hold” rating to a “sell” rating in a report on Friday, August 5th. BTIG Research restated a “hold” rating on shares of Foundation Medicine in a report on Thursday, August 4th. Janney Montgomery Scott lowered shares of Foundation Medicine from a “neutral” rating to a “sell” rating and set a $15.00 price objective for the company. in a report on Wednesday, August 3rd. JPMorgan Chase & Co. restated a “hold” rating and issued a $25.00 price objective on shares of Foundation Medicine in a report on Wednesday, August 3rd. Finally, Benchmark Co. lowered shares of Foundation Medicine from a “buy” rating to a “hold” rating in a report on Thursday, November 3rd. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $19.20.

In other Foundation Medicine news, COO Steven J. Kafka sold 4,427 shares of the business’s stock in a transaction that occurred on Thursday, October 20th. The stock was sold at an average price of $23.00, for a total value of $101,821.00. Following the completion of the transaction, the chief operating officer now directly owns 101,550 shares of the company’s stock, valued at $2,335,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Pellini sold 2,629 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $23.65, for a total value of $62,175.85. The disclosure for this sale can be found here. Corporate insiders own 2.20% 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.

5 Day Chart for NASDAQ:FMI

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