Insider Selling: Fulgent Genetics (NASDAQ:FLGT) Insider Sells $30,198.32 in Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) insider Hanlin Gao sold 1,688 shares of Fulgent Genetics stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $30,198.32. Following the sale, the insider owned 990,374 shares of the company’s stock, valued at $17,717,790.86. The trade was a 0.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hanlin Gao also recently made the following trade(s):

• On Wednesday, May 27th, Hanlin Gao sold 945 shares of Fulgent Genetics stock. The shares were sold at an average price of $17.60, for a total transaction of $16,632.00.

Fulgent Genetics Price Performance

Shares of FLGT opened at $19.15 on Friday. Fulgent Genetics, Inc. has a 1-year low of $13.46 and a 1-year high of $31.04. The company has a 50-day moving average of $16.37 and a 200 day moving average of $21.57. The firm has a market capitalization of $543.86 million, a price-to-earnings ratio of -8.01 and a beta of 0.94.

Analyst Upgrades and Downgrades

FLGT has been the subject of a number of research analyst reports. Piper Sandler reiterated a “neutral” rating and set a $15.00 price objective (down from $30.00) on shares of Fulgent Genetics in a report on Tuesday, May 5th. Zacks Research lowered shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Finally, Wall Street Zen upgraded shares of Fulgent Genetics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Fulgent Genetics currently has an average rating of “Hold” and an average target price of $27.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FLGT. Farther Finance Advisors LLC increased its position in Fulgent Genetics by 69.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock valued at $35,000 after purchasing an additional 548 shares during the period. Kestra Advisory Services LLC purchased a new position in Fulgent Genetics during the 4th quarter valued at about $35,000. Caitong International Asset Management Co. Ltd increased its position in Fulgent Genetics by 214.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock valued at $48,000 after purchasing an additional 1,251 shares during the period. Raymond James Financial Inc. purchased a new position in Fulgent Genetics during the 2nd quarter valued at about $49,000. Finally, Flagship Harbor Advisors LLC purchased a new position in Fulgent Genetics during the 4th quarter valued at about $56,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

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.