Fulgent Genetics (NASDAQ:FLGT) Share Price Crosses Below Fifty Day Moving Average – Time to Sell?

Fulgent Genetics, Inc. (NASDAQ:FLGT) shares crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $20.58 and traded as low as $19.30. Fulgent Genetics shares last traded at $19.99, with a volume of 278,878 shares.

Wall Street Analyst Weigh In

FLGT has been the subject of several research reports. Piper Sandler raised their target price on Fulgent Genetics from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. Finally, Weiss Ratings upgraded shares of Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Fulgent Genetics presently has a consensus rating of “Hold” and an average target price of $27.50.

Fulgent Genetics Price Performance

The firm has a market capitalization of $552.95 million, a PE ratio of -7.13 and a beta of 0.93. The firm has a fifty day moving average price of $20.61 and a 200 day moving average price of $18.91.

Fulgent Genetics (NASDAQ:FLGT) last announced its earnings results on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.12). Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%. The firm had revenue of $85.39 million during the quarter, compared to analyst estimates of $94.00 million. Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. On average, sell-side analysts expect that Fulgent Genetics, Inc. will post -3.48 EPS for the current year.

Insider Transactions at Fulgent Genetics

In other Fulgent Genetics news, COO Jian Xie sold 2,127 shares of Fulgent Genetics stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $19.66, for a total transaction of $41,816.82. Following the transaction, the chief operating officer owned 359,924 shares of the company’s stock, valued at $7,076,105.84. The trade was a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hanlin Gao sold 1,673 shares of Fulgent Genetics stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total value of $32,891.18. Following the transaction, the insider directly owned 986,117 shares in the company, valued at approximately $19,387,060.22. This trade represents a 0.17% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 5,932 shares of company stock valued at $117,156 over the last 90 days. Corporate insiders own 36.18% of the company’s stock.

Institutional Investors Weigh In On Fulgent Genetics

A number of institutional investors have recently modified their holdings of FLGT. Allworth Financial LP boosted its position in Fulgent Genetics by 559.9% during the second quarter. Allworth Financial LP now owns 1,201 shares of the company’s stock valued at $25,000 after purchasing an additional 1,019 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 buying an additional 1,251 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Fulgent Genetics during the 2nd quarter valued at about $38,000. Moore Capital Management LP grew its stake in shares of Fulgent Genetics by 4.8% in the 2nd quarter. Moore Capital Management LP now owns 48,343 shares of the company’s stock valued at $992,000 after buying an additional 2,219 shares in the last quarter. Finally, Amundi grew its stake in shares of Fulgent Genetics by 17.1% in the 1st quarter. Amundi now owns 41,596 shares of the company’s stock valued at $661,000 after buying an additional 6,072 shares in the last quarter. Institutional investors and hedge funds own 48.06% of the company’s stock.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc is a technology-driven clinical diagnostics company that develops and performs genetic testing. Its testing platform uses next-generation sequencing and other molecular technologies to analyze DNA and support the diagnosis, screening and management of inherited and acquired diseases.

The company offers a range of tests, including panels for hereditary cancer, reproductive health and inherited disorders, as well as tumor profiling and other specialized clinical testing services.