Hanlin Gao Sells 1,673 Shares of Fulgent Genetics (NASDAQ:FLGT) Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) insider Hanlin Gao sold 1,673 shares of Fulgent Genetics stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $19.66, for a total value of $32,891.18. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hanlin Gao also recently made the following trade(s):

• On Thursday, August 27th, Hanlin Gao sold 939 shares of Fulgent Genetics stock. The stock was sold at an average price of $19.91, for a total value of $18,695.49.

Fulgent Genetics Price Performance

NASDAQ:FLGT opened at $19.73 on Friday. The business’s 50-day simple moving average is $19.70 and its 200-day simple moving average is $18.03. Fulgent Genetics, Inc. has a fifty-two week low of $13.46 and a fifty-two week high of $31.04. The stock has a market capitalization of $542.77 million, a PE ratio of -7.00 and a beta of 0.93.

Fulgent Genetics (NASDAQ:FLGT) last posted its earnings results on Thursday, July 30th. The company reported ($0.58) earnings per share (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 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. On average, research analysts expect that Fulgent Genetics, Inc. will post -3.48 earnings per share for the current year.

Institutional Investors Weigh In On Fulgent Genetics

Institutional investors have recently bought and sold shares of the company. Moore Capital Management LP boosted its position in Fulgent Genetics by 4.8% during the 2nd quarter. Moore Capital Management LP now owns 48,343 shares of the company’s stock worth $992,000 after acquiring an additional 2,219 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Fulgent Genetics in the second quarter valued at approximately $276,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Fulgent Genetics in the second quarter valued at approximately $1,134,000. Almitas Capital LLC bought a new stake in shares of Fulgent Genetics in the second quarter worth $2,150,000. Finally, Corient Private Wealth LP bought a new stake in shares of Fulgent Genetics in the second quarter worth $880,000. Institutional investors own 48.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FLGT shares. Piper Sandler raised their price objective on shares of 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 shares of Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 29th. 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 assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.50.

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.