Fulgent Genetics (NASDAQ:FLGT) Shares Down 6.5% – What’s Next?

Fulgent Genetics, Inc. (NASDAQ:FLGT) traded down 6.5% during trading on Tuesday. The stock traded as low as $21.07 and last traded at $20.9850. 98,569 shares changed hands during trading, a decline of 76% from the average session volume of 416,944 shares. The stock had previously closed at $22.45.

Analyst Ratings Changes

A number of research firms have weighed in on FLGT. Wall Street Zen raised shares of Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 29th. Piper Sandler upped their price objective on Fulgent Genetics from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. 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 analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.50.

Fulgent Genetics Stock Down 7.7%

The business’s 50 day moving average is $20.07 and its two-hundred day moving average is $18.48. The firm has a market cap of $570.01 million, a P/E ratio of -7.36 and a beta of 0.93.

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

Insider Buying and Selling at Fulgent Genetics

In related news, insider Hanlin Gao sold 1,673 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total transaction of $32,891.18. Following the transaction, the insider owned 986,117 shares in the company, valued at $19,387,060.22. The trade was a 0.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,127 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total value of $41,816.82. Following the completion of the sale, the chief operating officer directly owned 359,924 shares of the company’s stock, valued at $7,076,105.84. This trade represents a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 5,932 shares of company stock valued at $117,156 in the last quarter. 36.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fulgent Genetics

Several hedge funds have recently modified their holdings of the company. Allworth Financial LP grew its position in shares of Fulgent Genetics by 559.9% in 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 in the last quarter. Moore Capital Management LP grew its holdings in Fulgent Genetics by 4.8% during 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. Empowered Funds LLC bought a new stake in shares of Fulgent Genetics during the second quarter valued at about $276,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Fulgent Genetics in the second quarter worth about $1,134,000. Finally, Almitas Capital LLC purchased a new stake in shares of Fulgent Genetics in the second quarter worth about $2,150,000. Institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc is a technology-driven clinical diagnostics company that provides genetic testing and laboratory services. The company uses next-generation sequencing and other molecular testing technologies to support the diagnosis, risk assessment and management of inherited diseases, cancer and other medical conditions.

Its offerings include hereditary disease testing, oncology testing, reproductive health testing and specialized genetic panels. Fulgent also provides laboratory-developed tests, pharmacogenetic testing and testing solutions for healthcare providers, hospitals, health systems, employers, pharmaceutical companies and public health organizations.