FULGENT GENETIC (FLGT) Issues Quarterly Earnings Results
FULGENT GENETIC (NASDAQ:FLGT) issued its quarterly earnings data on Monday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02, Bloomberg Earnings reports. FULGENT GENETIC had a negative net margin of 0.42% and a negative return on equity of 0.02%. The company had revenue of $4.64 million during the quarter, compared to the consensus estimate of $5.03 million.
FULGENT GENETIC (NASDAQ:FLGT) traded down 2.65% during trading on Friday, reaching $5.88. 7,077 shares of the company’s stock traded hands. FULGENT GENETIC has a 52-week low of $4.49 and a 52-week high of $13.90. The company’s 50 day moving average is $6.24 and its 200-day moving average is $8.63. The stock’s market cap is $104.31 million.
FLGT has been the subject of several recent research reports. Zacks Investment Research upgraded shares of FULGENT GENETIC from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. Credit Suisse Group cut their target price on shares of FULGENT GENETIC from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, August 8th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $7.00 target price (down previously from $10.00) on shares of FULGENT GENETIC in a research note on Wednesday, August 9th.
In other FULGENT GENETIC news, CFO Paul Kim sold 6,134 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $5.71, for a total transaction of $35,025.14. Following the transaction, the chief financial officer now owns 388,602 shares in the company, valued at $2,218,917.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ming Hsieh purchased 30,000 shares of the stock in a transaction on Tuesday, June 13th. The shares were acquired at an average price of $4.98 per share, for a total transaction of $149,400.00. Following the transaction, the insider now directly owns 6,459,944 shares of the company’s stock, valued at approximately $32,170,521.12. The disclosure for this purchase can be found here.
FULGENT GENETIC Company Profile
Fulgent Genetics, Inc is a technology company. The Company offers genetic testing to provide physicians with clinically actionable diagnostic information to improve quality of patient care. The Company has developed a technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes.
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