Jian Xie Sells 1,198 Shares of Fulgent Genetics (NASDAQ:FLGT) Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 1,198 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $29.57, for a total transaction of $35,424.86. Following the completion of the transaction, the chief operating officer owned 337,889 shares in the company, valued at $9,991,377.73. This trade represents a 0.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, November 24th, Jian Xie sold 681 shares of Fulgent Genetics stock. The shares were sold at an average price of $30.47, for a total transaction of $20,750.07.
• On Wednesday, November 19th, Jian Xie sold 10,000 shares of Fulgent Genetics stock. The shares were 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 stock was sold at an average price of $22.03, for a total transaction of $24,849.84.

Fulgent Genetics Stock Performance

Shares of FLGT stock traded down $1.06 during mid-day trading on Monday, reaching $28.52. 182,835 shares of the company’s stock traded hands, compared to its average volume of 329,413. The firm has a market capitalization of $881.61 million, a PE ratio of -17.18 and a beta of 0.92. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $31.04. The firm has a 50 day moving average price of $24.98 and a two-hundred day moving average price of $22.06.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Fulgent Genetics

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its position in shares of Fulgent Genetics by 124.0% during the first quarter. Acadian Asset Management LLC now owns 805,941 shares of the company’s stock worth $13,611,000 after acquiring an additional 446,076 shares during the last quarter. Millennium Management LLC increased its holdings in Fulgent Genetics by 28.6% in the 1st quarter. Millennium Management LLC now owns 1,969,433 shares of the company’s stock valued at $33,283,000 after acquiring an additional 437,632 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Fulgent Genetics by 767.0% in 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 in the last quarter. Diametric Capital LP bought a new position in shares of Fulgent Genetics during the 2nd quarter valued at about $3,359,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of Fulgent Genetics by 299.4% during the first quarter. Cubist Systematic Strategies LLC now owns 221,221 shares of the company’s stock valued at $3,739,000 after purchasing an additional 165,828 shares in the last quarter. Institutional investors own 48.06% of the company’s stock.

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.