Fulgent Genetics, Inc. (NASDAQ:FLGT) Receives $27.00 Consensus Price Target from Brokerages

Fulgent Genetics, Inc. (NASDAQ:FLGT) has been given a consensus recommendation of “Hold” by the five analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $27.00.

FLGT has been the subject of several recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $15.00 target price (down from $30.00) on shares of Fulgent Genetics in a research report on Tuesday, May 5th. Wall Street Zen raised Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th.

Fulgent Genetics Price Performance

Shares of FLGT opened at $17.96 on Friday. Fulgent Genetics has a one year low of $13.46 and a one year high of $31.04. The company has a 50-day moving average of $16.76 and a two-hundred day moving average of $20.79. The stock has a market cap of $510.08 million, a price-to-earnings ratio of -7.51 and a beta of 0.94.

Insider Activity at Fulgent Genetics

In related news, insider Hanlin Gao sold 1,688 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $30,198.32. Following the completion of the sale, the insider directly owned 990,374 shares in the company, valued at approximately $17,717,790.86. This trade represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $38,391.94. Following the sale, the chief operating officer owned 367,605 shares of the company’s stock, valued at approximately $6,576,453.45. This represents a 0.58% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 5,980 shares of company stock valued at $106,360. 36.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Fulgent Genetics

A number of institutional investors have recently bought and sold shares of FLGT. Amundi boosted its position in Fulgent Genetics by 289.2% during the first quarter. Amundi now owns 34,316 shares of the company’s stock valued at $583,000 after purchasing an additional 25,500 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Fulgent Genetics by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock valued at $3,428,000 after acquiring an additional 45,279 shares during the last quarter. Legal & General Group Plc lifted its stake in Fulgent Genetics by 14.1% in the second quarter. Legal & General Group Plc now owns 21,025 shares of the company’s stock valued at $418,000 after acquiring an additional 2,599 shares during the last quarter. Rhumbline Advisers lifted its stake in Fulgent Genetics by 2.4% in the second quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock valued at $659,000 after acquiring an additional 785 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Fulgent Genetics by 8.0% in the second quarter. American Century Companies Inc. now owns 52,168 shares of the company’s stock valued at $1,037,000 after acquiring an additional 3,860 shares during the last quarter. Institutional investors and hedge funds 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.