Fulgent Genetics (NASDAQ:FLGT) Stock Price Up 7.3% – Time to Buy?

Fulgent Genetics, Inc. (NASDAQ:FLGT) shares rose 7.3% on Wednesday . The stock traded as high as $27.99 and last traded at $27.8950. Approximately 186,325 shares traded hands during trading, a decline of 4% from the average daily volume of 193,431 shares. The stock had previously closed at $25.99.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FLGT shares. Wall Street Zen lowered Fulgent Genetics from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fulgent Genetics in a research report on Wednesday, October 8th. Piper Sandler lifted their price objective on shares of Fulgent Genetics from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $36.00 target price on shares of Fulgent Genetics in a research note on Friday, November 14th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.00.

Fulgent Genetics Stock Up 7.4%

The firm’s 50-day simple moving average is $27.18 and its 200 day simple moving average is $23.23. The firm has a market cap of $862.70 million, a P/E ratio of -20.08 and a beta of 0.63.

Fulgent Genetics (NASDAQ:FLGT) last issued its earnings results on Friday, November 7th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.36. The firm had revenue of $84.07 million during the quarter, compared to analyst estimates of $81.43 million. Fulgent Genetics had a negative net margin of 13.62% and a negative return on equity of 2.55%. Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. As a group, analysts forecast that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Insider Activity at Fulgent Genetics

In related news, COO Jian Xie sold 10,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $29.10, for a total value of $291,000.00. Following the sale, the chief operating officer owned 349,768 shares in the company, valued at approximately $10,178,248.80. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Hanlin Gao sold 1,075 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $28.33, for a total value of $30,454.75. Following the transaction, the insider owned 952,890 shares of the company’s stock, valued at approximately $26,995,373.70. The trade was a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 15,572 shares of company stock valued at $454,112. 33.11% of the stock is owned by corporate insiders.

Institutional Trading of Fulgent Genetics

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC raised its position in Fulgent Genetics by 60.4% during the 2nd quarter. Signaturefd LLC now owns 1,914 shares of the company’s stock valued at $38,000 after purchasing an additional 721 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Fulgent Genetics during the second quarter valued at approximately $49,000. Quantbot Technologies LP bought a new position in shares of Fulgent Genetics during the third quarter valued at approximately $61,000. R Squared Ltd purchased a new stake in Fulgent Genetics in the third quarter worth $250,000. Finally, Mackenzie Financial Corp lifted its stake in Fulgent Genetics by 11.2% in the third quarter. Mackenzie Financial Corp now owns 12,155 shares of the company’s stock worth $275,000 after acquiring an additional 1,220 shares during the period. Institutional investors own 48.06% of the company’s stock.

About Fulgent Genetics

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.