Pier Capital LLC Buys Shares of 154,101 Foundation Medicine, Inc. (FMI)
Pier Capital LLC bought a new position in Foundation Medicine, Inc. (NASDAQ:FMI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 154,101 shares of the company’s stock, valued at approximately $6,126,000. Foundation Medicine makes up 1.1% of Pier Capital LLC’s portfolio, making the stock its 25th biggest holding. Pier Capital LLC owned approximately 0.43% of Foundation Medicine at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in FMI. Legal & General Group Plc boosted its holdings in shares of Foundation Medicine by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 3,442 shares of the company’s stock worth $138,000 after acquiring an additional 274 shares in the last quarter. Creative Planning boosted its holdings in shares of Foundation Medicine by 10.0% in the 1st quarter. Creative Planning now owns 4,400 shares of the company’s stock worth $142,000 after acquiring an additional 400 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Foundation Medicine by 65.8% in the 1st quarter. Bank of America Corp DE now owns 6,180 shares of the company’s stock worth $200,000 after acquiring an additional 2,452 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Foundation Medicine in the 1st quarter worth approximately $218,000. Finally, KCG Holdings Inc. acquired a new position in shares of Foundation Medicine in the 1st quarter worth approximately $256,000. 31.84% of the stock is currently owned by institutional investors and hedge funds.
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Foundation Medicine, Inc. (NASDAQ:FMI) traded down 0.99% on Monday, reaching $39.90. The company’s stock had a trading volume of 74,020 shares. The firm’s 50 day moving average is $37.80 and its 200-day moving average is $35.38. The firm’s market cap is $1.44 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 posted its earnings results on Tuesday, August 1st. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.08) by $0.16. The company had revenue of $35 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.84) EPS. On average, equities research analysts anticipate that Foundation Medicine, Inc. will post ($4.64) EPS for the current year.
In other Foundation Medicine news, insider David Daly sold 46,872 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $39.50, for a total transaction of $1,851,444.00. Following the sale, the insider now owns 163,133 shares of the company’s stock, valued at $6,443,753.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Krishna Yeshwant sold 4,800 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $40.01, for a total transaction of $192,048.00. Following the sale, the director now directly owns 5,786 shares in the company, valued at approximately $231,497.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 182,552 shares of company stock worth $7,123,185. Insiders own 2.70% of the company’s stock.
Several research analysts have issued reports on the company. BidaskClub raised Foundation Medicine from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Zacks Investment Research raised Foundation Medicine from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. ValuEngine raised Foundation Medicine from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BTIG Research raised Foundation Medicine from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Foundation Medicine has a consensus rating of “Hold” and a consensus target price of $29.50.
Foundation Medicine Company Profile
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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