Fulgent Genetics (NASDAQ:FLGT) Stock Breaks Below 50 Day Moving Average – Here’s Why

Fulgent Genetics, Inc. (NASDAQ:FLGT) shares crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $20.58 and traded as low as $19.30. Fulgent Genetics shares last traded at $19.99, with a volume of 278,878 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FLGT shares. Piper Sandler increased their price objective on Fulgent Genetics from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Wall Street Zen raised Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 29th. Finally, Weiss Ratings raised Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Fulgent Genetics presently has an average rating of “Hold” and an average target price of $27.50.

Fulgent Genetics Stock Down 0.7%

The business has a fifty day simple moving average of $20.58 and a 200-day simple moving average of $18.90. The firm has a market cap of $549.92 million, a P/E ratio of -7.09 and a beta of 0.93.

Fulgent Genetics (NASDAQ:FLGT) last announced its earnings results on Thursday, July 30th. The company reported ($0.58) EPS 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 the consensus estimate of $94.00 million. Fulgent Genetics had a negative net margin of 26.05% and a negative return on equity of 4.93%. Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. On average, sell-side analysts anticipate that Fulgent Genetics, Inc. will post -3.48 EPS for the current fiscal year.

Insider Activity

In other Fulgent Genetics news, insider Hanlin Gao sold 1,673 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total value of $32,891.18. Following the sale, the insider owned 986,117 shares in the company, valued at approximately $19,387,060.22. This represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. Also, COO Jian Xie sold 2,127 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total transaction of $41,816.82. Following the transaction, the chief operating officer directly owned 359,924 shares of the company’s stock, valued at $7,076,105.84. This represents a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 5,932 shares of company stock worth $117,156 in the last three months. 36.18% of the stock is currently owned by insiders.

Institutional Trading of Fulgent Genetics

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Fulgent Genetics in the 2nd quarter worth approximately $46,922,000. Medina Value Partners LLC bought a new position in Fulgent Genetics during the 2nd quarter valued at approximately $3,961,612. Bank of America Corp DE bought a new position in Fulgent Genetics during the 2nd quarter valued at approximately $3,603,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Fulgent Genetics during the 2nd quarter valued at approximately $3,265,000. Finally, Quantinno Capital Management LP raised its stake in Fulgent Genetics by 374.7% during the first quarter. Quantinno Capital Management LP now owns 137,479 shares of the company’s stock valued at $2,186,000 after buying an additional 108,519 shares during the last quarter. 48.06% of the stock is owned by institutional investors.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc is a technology-driven clinical diagnostics company that develops and performs genetic testing. Its testing platform uses next-generation sequencing and other molecular technologies to analyze DNA and support the diagnosis, screening and management of inherited and acquired diseases.

The company offers a range of tests, including panels for hereditary cancer, reproductive health and inherited disorders, as well as tumor profiling and other specialized clinical testing services.