Fulgent Genetics (NASDAQ:FLGT) COO Jian Xie Sells 1,201 Shares

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 1,201 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $17.60, for a total transaction of $21,137.60. Following the completion of the sale, the chief operating officer owned 369,751 shares of the company’s stock, valued at approximately $6,507,617.60. This trade represents a 0.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fulgent Genetics Stock Up 1.9%

FLGT stock opened at $18.24 on Friday. Fulgent Genetics, Inc. has a 12-month low of $13.46 and a 12-month high of $31.04. The company has a market cap of $518.02 million, a price-to-earnings ratio of -7.63 and a beta of 0.88. The company has a 50 day moving average of $16.04 and a two-hundred day moving average of $21.94.

Fulgent Genetics (NASDAQ:FLGT) last released its earnings results on Friday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. Fulgent Genetics had a negative net margin of 23.04% and a negative return on equity of 3.24%. The company had revenue of $83.34 million during the quarter, compared to the consensus estimate of $85.38 million. On average, research analysts anticipate that Fulgent Genetics, Inc. will post -2.81 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Amundi increased its stake in shares of Fulgent Genetics by 17.1% during the 1st quarter. Amundi now owns 41,596 shares of the company’s stock worth $661,000 after purchasing an additional 6,072 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Fulgent Genetics by 374.7% during the 1st quarter. Quantinno Capital Management LP now owns 137,479 shares of the company’s stock worth $2,186,000 after purchasing an additional 108,519 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Fulgent Genetics by 3,217.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 33,739 shares of the company’s stock worth $536,000 after purchasing an additional 32,722 shares during the last quarter. Levin Capital Strategies L.P. acquired a new position in shares of Fulgent Genetics during the 1st quarter worth $687,000. Finally, Hsbc Holdings PLC increased its stake in shares of Fulgent Genetics by 25.2% during the 1st quarter. Hsbc Holdings PLC now owns 65,174 shares of the company’s stock worth $1,031,000 after purchasing an additional 13,118 shares during the last quarter. Institutional investors and hedge funds own 48.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler reiterated a “neutral” rating and issued a $15.00 target price (down from $30.00) on shares of Fulgent Genetics in a research report on Tuesday, May 5th. Wall Street Zen downgraded shares of Fulgent Genetics from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Finally, Zacks Research downgraded shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.00.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.