Insider Selling: Fulgent Genetics (NASDAQ:FLGT) COO Sells 1,193 Shares of Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 1,193 shares of Fulgent Genetics stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $19.91, for a total value of $23,752.63. Following the transaction, the chief operating officer owned 362,051 shares in the company, valued at approximately $7,208,435.41. This represents a 0.33% 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.

Jian Xie also recently made the following trade(s):

• On Tuesday, June 2nd, Jian Xie sold 2,146 shares of Fulgent Genetics stock. The shares were sold at an average price of $17.89, for a total value of $38,391.94.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock traded down $0.34 on Friday, hitting $19.61. The company had a trading volume of 192,538 shares, compared to its average volume of 431,774. The firm has a market capitalization of $539.57 million, a P/E ratio of -6.95 and a beta of 0.90. Fulgent Genetics, Inc. has a twelve month low of $13.46 and a twelve month high of $31.04. The stock has a 50-day moving average of $19.59 and a 200-day moving average of $18.14.

Fulgent Genetics (NASDAQ:FLGT) last released 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 firm 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. Equities analysts predict that Fulgent Genetics, Inc. will post -3.48 EPS for the current year.

Institutional Trading of Fulgent Genetics

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its stake in Fulgent Genetics by 69.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock valued at $35,000 after buying an additional 548 shares in the last quarter. Federated Hermes Inc. raised its stake in Fulgent Genetics by 1.2% during the fourth quarter. Federated Hermes Inc. now owns 47,102 shares of the company’s stock worth $1,237,000 after acquiring an additional 552 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of 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 acquiring an additional 785 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Fulgent Genetics by 3.2% in the fourth quarter. Swiss National Bank now owns 39,200 shares of the company’s stock worth $1,030,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of Fulgent Genetics in the 2nd quarter valued at approximately $25,000. 48.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FLGT. Weiss Ratings upgraded Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Piper Sandler increased their price target on Fulgent Genetics from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of Fulgent Genetics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fulgent Genetics has an average rating of “Hold” and a consensus target price of $27.50.

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.