Fulgent Genetics (NASDAQ:FLGT) COO Sells $21,137.60 in Stock

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

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT opened at $18.14 on Friday. The business’s 50 day moving average is $16.10 and its two-hundred day moving average is $21.91. Fulgent Genetics, Inc. has a 1-year low of $13.46 and a 1-year high of $31.04. The stock has a market capitalization of $515.18 million, a P/E ratio of -7.59 and a beta of 0.88.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FLGT. Amundi grew its stake in shares of Fulgent Genetics by 289.2% during the first quarter. Amundi now owns 34,316 shares of the company’s stock valued at $583,000 after buying an additional 25,500 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Fulgent Genetics by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock valued at $3,428,000 after buying an additional 45,279 shares during the last quarter. Legal & General Group Plc grew its stake in Fulgent Genetics by 14.1% in the second quarter. Legal & General Group Plc now owns 21,025 shares of the company’s stock worth $418,000 after purchasing an additional 2,599 shares in the last quarter. Rhumbline Advisers grew its stake in Fulgent Genetics by 2.4% in the second quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock worth $659,000 after purchasing an additional 785 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Fulgent Genetics by 8.0% in the second quarter. American Century Companies Inc. now owns 52,168 shares of the company’s stock worth $1,037,000 after purchasing an additional 3,860 shares in the last quarter. Institutional investors own 48.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on FLGT. Wall Street Zen raised Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research note on Saturday. Piper Sandler reaffirmed a “neutral” rating and set a $15.00 target price (down from $30.00) on shares of Fulgent Genetics in a research note on Tuesday, May 5th. Finally, Zacks Research cut Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.