Shares of the company are trading at $45.00 which is slightly above the 50 day moving average which is $41.59 and which is significantly above the 200 day moving average of $38.87. The 50 day moving average was up $3.41 or +8.19% and the 200 day average went up $6.13 or +15.77%. Trading was heavy with 209K shares changing hands on Tuesday. Shares saw a steep increase in trading volume of 38.79% over the normal average daily volume.
Short traders are more bearish on Foundation Medicine, Inc. recently considering the rise in short interest. The stock experienced a rise in short interest of 2.01% between September 29, 2017 and October 13, 2017. Short shares grew 53,452 over that period. With short interest at 2,709,194 and short average daily volume at 200,301, days to cover is 14.0 and the percentage of shorted shares is 0.08% as of October 13.
Here is a rundown on some insider market activity for Foundation Medicine, Inc. (NASDAQ:FMI). President & COO Steven J. Kafka disclosed the sale of 3,361 shares of (FMI). The shares were purchased at an average price of $44.62. Kafka now owns $4,059,840 of the stock according to the SEC filing. Jason Ryan, CFO reported the sale of 1,152 shares. The shares were sold on October 12th for an average price of $45.05. The CFO now owns $2,808,057 of the stock per the Form 4 SEC filing.
A few notable investment firms have updated their holdings. As of quarter end Equitec Proprietary Markets, LLC had sold 25,200 shares trimming its holdings by 98.4%. The value of the investment in FMI decreased from $1,018,000 to $16,000 decreasing 98.4% quarter over quarter. As of the end of the quarter Whittier Trust Co had acquired a total of 622 shares growing its stake by 1.4%. The value of the investment in Foundation Medicine, Inc. went from $1,723,000 to $1,767,000 a change of 2.6% quarter to quarter.
Whittier Trust Co Of Nevada Inc expanded its holdings by buying 79 shares an increase of 4.7% from 06/30/2017 to 09/30/2017. Whittier Trust Co Of Nevada Inc now controls 1,748 shares valued at $70,000. The value of the position overall is up by 6.1%. As of quarter end Simplex Trading, LLC had bought a total of 3,041 shares growing its position 321.5%. The value of the total investment in Foundation Medicine, Inc. increased from $37,000 to $160,000 a change of $123,000 for the reporting period.
In the latest earnings report the EPS was $-4.47 and is projected to be $-4.67 for the current year with 36,021,000 shares outstanding. Next quarter’s EPS is expected be $-1.02 and the next full year EPS is projected to be $-3.88.
Foundation Medicine, Inc., launched on November 12, 2009, is a molecular information company. The Company sells products that are enabled by its molecular information platform to physicians and biopharmaceutical companies. The Company is involved in the business of delivering molecular information about cancer to its customers. The Business’s platform includes various methods and algorithms for analyzing specimens across various types of cancer, and for incorporating that information into clinical care. 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. Its suite of clinical molecular information products includes FoundationOne, which is used for solid tumors; FoundationOne Heme, which is used for blood-based cancers or hematologic malignancies, including leukemia, lymphoma, myeloma, pediatric cancers and advanced sarcoma; FoundationACT (Assay for Circulating Tumor DNA), which is a blood-based (liquid biopsy) assay that evaluates circulating tumor deoxyribonucleic acid (ctDNA), and FoundationFocus CDxBRCA, which is a companion diagnostic assay to aid in identifying women with ovarian cancer for whom treatment with Rubraca (rucaparib)..Advertisement