Jian Xie Sells 1,201 Shares of Fulgent Genetics (NASDAQ:FLGT) Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 1,201 shares of Fulgent Genetics stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $17.60, for a total value of $21,137.60. Following the sale, the chief operating officer owned 369,751 shares of the company’s stock, valued at approximately $6,507,617.60. This represents a 0.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fulgent Genetics Price Performance

NASDAQ:FLGT traded up $0.34 on Thursday, reaching $18.24. The stock had a trading volume of 478,192 shares, compared to its average volume of 502,915. Fulgent Genetics, Inc. has a 12-month low of $13.46 and a 12-month high of $31.04. The company has a market cap of $518.03 million, a price-to-earnings ratio of -7.63 and a beta of 0.88. The firm’s fifty day moving average is $16.04 and its two-hundred day moving average is $21.94.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings results on Friday, February 27th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. The business had revenue of $83.34 million during the quarter, compared to the consensus estimate of $85.38 million. Fulgent Genetics had a negative net margin of 23.04% and a negative return on equity of 3.24%. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. As a group, research analysts forecast that Fulgent Genetics, Inc. will post -2.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fulgent Genetics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Fulgent Genetics by 2,984,354.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock valued at $39,985,000 after buying an additional 1,522,021 shares during the period. Millennium Management LLC raised its stake in shares of 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. lifted its position in shares of Fulgent Genetics by 1.1% during the third quarter. Vanguard Group Inc. now owns 1,179,254 shares of the company’s stock worth $26,651,000 after purchasing an additional 13,295 shares in the last quarter. RTW Investments LP acquired a new position in shares of Fulgent Genetics during the fourth quarter worth $18,521,000. Finally, Geode Capital Management LLC lifted its position in shares of Fulgent Genetics by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 508,224 shares of the company’s stock worth $13,353,000 after purchasing an additional 6,553 shares in the last quarter. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FLGT. Zacks Research downgraded Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Piper Sandler reiterated a “neutral” rating and set a $15.00 target price (down from $30.00) on shares of Fulgent Genetics in a research report on Tuesday, May 5th. Finally, Wall Street Zen downgraded shares of Fulgent Genetics from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average 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.