Gilder Gagnon Howe & Co. LLC Trims Stake in Foundation Medicine Inc (NASDAQ:FMI)

Gilder Gagnon Howe & Co. LLC lessened its stake in shares of Foundation Medicine Inc (NASDAQ:FMI) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,504,572 shares of the company’s stock after selling 17,963 shares during the quarter. Foundation Medicine makes up 1.4% of Gilder Gagnon Howe & Co. LLC’s holdings, making the stock its 17th biggest holding. Gilder Gagnon Howe & Co. LLC owned approximately 4.15% of Foundation Medicine worth $102,612,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of FMI. Lord Abbett & CO. LLC grew its stake in shares of Foundation Medicine by 146.0% in the second quarter. Lord Abbett & CO. LLC now owns 579,225 shares of the company’s stock worth $23,024,000 after purchasing an additional 343,770 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in Foundation Medicine in the third quarter valued at $13,299,000. State Street Corp lifted its holdings in Foundation Medicine by 124.2% in the second quarter. State Street Corp now owns 526,775 shares of the company’s stock valued at $20,947,000 after buying an additional 291,815 shares during the period. Boston Advisors LLC acquired a new position in Foundation Medicine in the fourth quarter valued at $13,000,000. Finally, Vanguard Group Inc. lifted its holdings in Foundation Medicine by 8.2% in the second quarter. Vanguard Group Inc. now owns 631,339 shares of the company’s stock valued at $25,096,000 after buying an additional 47,843 shares during the period. 33.12% of the stock is currently owned by institutional investors.

In other Foundation Medicine news, Director Michael J. Pellini sold 37,288 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $64.55, for a total value of $2,406,940.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Steven J. Kafka sold 23,064 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $70.13, for a total transaction of $1,617,478.32. Following the completion of the sale, the chief operating officer now directly owns 61,361 shares of the company’s stock, valued at $4,303,246.93. The disclosure for this sale can be found here. Insiders sold a total of 228,717 shares of company stock worth $14,987,592 in the last 90 days. 2.70% of the stock is currently owned by company insiders.

Foundation Medicine Inc (NASDAQ:FMI) traded up $1.80 on Thursday, hitting $67.40. 85,820 shares of the company were exchanged, compared to its average volume of 257,509. The company has a quick ratio of 2.03, a current ratio of 2.24 and a debt-to-equity ratio of 0.47. Foundation Medicine Inc has a 12 month low of $22.40 and a 12 month high of $75.20. The firm has a market cap of $2,440.00, a price-to-earnings ratio of -15.08 and a beta of -0.03.

FMI has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Foundation Medicine from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Monday, November 6th. BidaskClub upgraded shares of Foundation Medicine from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Goldman Sachs Group started coverage on shares of Foundation Medicine in a report on Monday, January 29th. They set a “neutral” rating and a $73.00 price objective on the stock. Finally, Cowen started coverage on shares of Foundation Medicine in a report on Thursday. They set an “outperform” rating and a $90.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $59.80.

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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.

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

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