Jian Xie Sells 2,127 Shares of Fulgent Genetics (NASDAQ:FLGT) Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 2,127 shares of Fulgent Genetics stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.66, for a total transaction of $41,816.82. Following the sale, the chief operating officer directly owned 359,924 shares in the company, valued at approximately $7,076,105.84. This trade represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jian Xie also recently made the following trade(s):

• On Thursday, August 27th, Jian Xie sold 1,193 shares of Fulgent Genetics stock. The stock was sold at an average price of $19.91, for a total transaction of $23,752.63.

Fulgent Genetics Stock Up 0.4%

Shares of NASDAQ FLGT opened at $19.73 on Friday. The firm has a 50-day simple moving average of $19.70 and a 200-day simple moving average of $18.03. The stock has a market capitalization of $542.77 million, a price-to-earnings ratio of -7.00 and a beta of 0.93. Fulgent Genetics, Inc. has a 52 week low of $13.46 and a 52 week high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.12). The business had revenue of $85.39 million for the quarter, compared to analyst estimates of $94.00 million. Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%.Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. As a group, equities research analysts expect that Fulgent Genetics, Inc. will post -3.48 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FLGT. Wall Street Zen raised Fulgent Genetics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 29th. Piper Sandler boosted their price objective on Fulgent Genetics from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FLGT. Allworth Financial LP acquired a new position in shares of Fulgent Genetics in the second quarter worth $25,000. Farther Finance Advisors LLC raised its position in Fulgent Genetics by 69.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock valued at $35,000 after purchasing an additional 548 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Fulgent Genetics in the fourth quarter valued at approximately $35,000. Legal & General Group Plc purchased a new stake in shares of Fulgent Genetics during the 2nd quarter worth $38,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Fulgent Genetics by 214.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock worth $48,000 after buying an additional 1,251 shares during the last quarter. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

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.