Fulgent Genetics (NASDAQ:FLGT) Insider Hanlin Gao Sells 945 Shares of Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) insider Hanlin Gao sold 945 shares of Fulgent Genetics stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $17.60, for a total value of $16,632.00. Following the transaction, the insider directly owned 992,062 shares of the company’s stock, valued at $17,460,291.20. The trade was a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Fulgent Genetics Stock Up 1.9%

FLGT stock opened at $18.24 on Friday. The firm has a market capitalization of $518.02 million, a PE ratio of -7.63 and a beta of 0.88. Fulgent Genetics, Inc. has a twelve month low of $13.46 and a twelve month high of $31.04. The stock has a 50-day simple moving average of $16.04 and a two-hundred day simple moving average of $21.94.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings data on Friday, February 27th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.02 by $0.14. Fulgent Genetics had a negative return on equity of 3.24% and a negative net margin of 23.04%.The company had revenue of $83.34 million during the quarter, compared to analyst estimates of $85.38 million. On average, equities research analysts anticipate that Fulgent Genetics, Inc. will post -2.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FLGT. Wall Street Zen lowered Fulgent Genetics from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Zacks Research lowered Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Finally, Piper Sandler reissued 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. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.00.

Hedge Funds Weigh In On Fulgent Genetics

A number of large investors have recently modified their holdings of FLGT. Farther Finance Advisors LLC raised its holdings in Fulgent Genetics by 69.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock worth $35,000 after purchasing an additional 548 shares in the last quarter. Federated Hermes Inc. raised its holdings in Fulgent Genetics by 1.2% in the 4th quarter. Federated Hermes Inc. now owns 47,102 shares of the company’s stock worth $1,237,000 after purchasing an additional 552 shares in the last quarter. Rhumbline Advisers grew its stake in Fulgent Genetics by 2.4% in the second quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock worth $659,000 after purchasing an additional 785 shares during the period. Swiss National Bank raised its holdings in Fulgent Genetics by 3.2% in the fourth quarter. Swiss National Bank now owns 39,200 shares of the company’s stock worth $1,030,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Peapod Lane Capital LLC raised its holdings in Fulgent Genetics by 0.7% in the fourth quarter. Peapod Lane Capital LLC now owns 165,781 shares of the company’s stock worth $4,355,000 after purchasing an additional 1,202 shares in the last quarter. 48.06% of the stock is owned by hedge funds and other institutional investors.

About Fulgent Genetics

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.