Hanlin Gao Sells 1,688 Shares of Fulgent Genetics (NASDAQ:FLGT) Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) insider Hanlin Gao sold 1,688 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $30,198.32. Following the transaction, the insider directly owned 990,374 shares of the company’s stock, valued at approximately $17,717,790.86. The trade was a 0.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 Wednesday, May 27th, Hanlin Gao sold 945 shares of Fulgent Genetics stock. The shares were sold at an average price of $17.60, for a total value of $16,632.00.

Fulgent Genetics Trading Up 7.8%

Shares of Fulgent Genetics stock opened at $19.55 on Friday. The stock has a 50 day moving average of $16.32 and a 200 day moving average of $21.58. Fulgent Genetics, Inc. has a 12 month low of $13.46 and a 12 month high of $31.04. The firm has a market cap of $555.33 million, a PE ratio of -8.18 and a beta of 0.94.

Institutional Investors Weigh In On Fulgent Genetics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its position in Fulgent Genetics by 2,984,354.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock valued at $39,985,000 after purchasing an additional 1,522,021 shares during the period. Millennium Management LLC raised its position in Fulgent Genetics by 1.8% during the third quarter. Millennium Management LLC now owns 1,468,844 shares of the company’s stock valued at $33,196,000 after purchasing an additional 26,582 shares during the period. Vanguard Group Inc. raised its position in Fulgent Genetics by 1.1% during the third quarter. Vanguard Group Inc. now owns 1,179,254 shares of the company’s stock valued at $26,651,000 after purchasing an additional 13,295 shares during the period. RTW Investments LP purchased a new stake in Fulgent Genetics during the fourth quarter valued at approximately $18,521,000. Finally, Geode Capital Management LLC raised its position in Fulgent Genetics by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 508,224 shares of the company’s stock valued at $13,353,000 after purchasing an additional 6,553 shares during the period. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FLGT shares. Piper Sandler reissued a “neutral” rating and set a $15.00 price target (down from $30.00) on shares of Fulgent Genetics in a research note on Tuesday, May 5th. Wall Street Zen raised Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Finally, Zacks Research lowered Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Fulgent Genetics 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.