Insider Selling: Fulgent Genetics (NASDAQ:FLGT) COO Sells $20,750.07 in Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 681 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $30.47, for a total transaction of $20,750.07. Following the sale, the chief operating officer owned 339,087 shares in the company, valued at approximately $10,331,980.89. This represents a 0.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, November 19th, Jian Xie sold 10,000 shares of Fulgent Genetics stock. The stock was sold at an average price of $29.10, for a total transaction of $291,000.00.
• On Wednesday, September 3rd, Jian Xie sold 1,128 shares of Fulgent Genetics stock. The shares were sold at an average price of $22.03, for a total transaction of $24,849.84.
• On Wednesday, August 27th, Jian Xie sold 1,199 shares of Fulgent Genetics stock. The shares were sold at an average price of $21.48, for a total value of $25,754.52.

Fulgent Genetics Trading Down 1.9%

FLGT stock opened at $29.57 on Friday. The company has a market capitalization of $913.94 million, a PE ratio of -17.81 and a beta of 0.92. The business’s fifty day moving average price is $24.71 and its 200 day moving average price is $21.91. Fulgent Genetics, Inc. has a 12-month low of $14.57 and a 12-month high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings data on Friday, November 7th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.36. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The firm had revenue of $84.07 million during the quarter, compared to analysts’ expectations of $81.43 million. Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. Research analysts predict that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FLGT. Acadian Asset Management LLC boosted its stake in Fulgent Genetics by 124.0% during the 1st quarter. Acadian Asset Management LLC now owns 805,941 shares of the company’s stock worth $13,611,000 after purchasing an additional 446,076 shares during the period. Millennium Management LLC increased its position in Fulgent Genetics by 28.6% during the 1st quarter. Millennium Management LLC now owns 1,969,433 shares of the company’s stock worth $33,283,000 after purchasing an additional 437,632 shares during the period. JPMorgan Chase & Co. increased its position in Fulgent Genetics by 767.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 299,014 shares of the company’s stock worth $6,758,000 after purchasing an additional 264,524 shares during the period. Diametric Capital LP purchased a new position in shares of Fulgent Genetics during the 2nd quarter worth approximately $3,359,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Fulgent Genetics by 299.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 221,221 shares of the company’s stock valued at $3,739,000 after buying an additional 165,828 shares during the period. Institutional investors and hedge funds own 48.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Fulgent Genetics from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Raymond James Financial reaffirmed an “outperform” rating and set a $36.00 price target on shares of Fulgent Genetics in a report on Friday, November 14th. Piper Sandler increased their price objective on Fulgent Genetics from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. UBS Group raised Fulgent Genetics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $20.00 to $30.00 in a research report on Tuesday, August 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.00.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company’s clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases.