Fulgent Genetics (NASDAQ:FLGT) Shares Pass Below 50-Day Moving Average – Time to Sell?

Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $19.40 and traded as low as $18.96. Fulgent Genetics shares last traded at $19.74, with a volume of 264,961 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fulgent Genetics in a research report on Monday, July 6th. Wall Street Zen lowered shares of Fulgent Genetics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Piper Sandler raised their price target on Fulgent Genetics from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.50.

Fulgent Genetics Stock Down 0.1%

The company has a 50 day simple moving average of $19.45 and a 200 day simple moving average of $18.33. The company has a market capitalization of $547.45 million, a price-to-earnings ratio of -7.06 and a beta of 0.90.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly 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 net margin of 26.05% and a negative return on equity of 4.93%. The business had revenue of $85.39 million during the quarter, compared to analysts’ expectations of $94.00 million. Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. On average, research analysts forecast that Fulgent Genetics, Inc. will post -3.48 EPS for the current fiscal year.

Insider Activity

In related news, insider Hanlin Gao sold 1,688 shares of Fulgent Genetics stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is accessible 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 business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $38,391.94. Following the completion of the transaction, the chief operating officer owned 367,605 shares in the company, valued at approximately $6,576,453.45. This trade represents a 0.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 5,980 shares of company stock worth $106,360. Company insiders own 36.18% of the company’s stock.

Institutional Trading of Fulgent Genetics

Several institutional investors have recently added to or reduced their stakes in FLGT. Farther Finance Advisors LLC increased its stake in shares of Fulgent Genetics by 69.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock valued at $35,000 after acquiring an additional 548 shares during the period. Federated Hermes Inc. raised its position in shares of Fulgent Genetics by 1.2% during the fourth quarter. Federated Hermes Inc. now owns 47,102 shares of the company’s stock worth $1,237,000 after purchasing an additional 552 shares during the period. Rhumbline Advisers raised its holdings in Fulgent Genetics by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock worth $659,000 after buying an additional 785 shares during the period. Swiss National Bank raised its holdings in shares of Fulgent Genetics by 3.2% during the fourth quarter. Swiss National Bank now owns 39,200 shares of the company’s stock valued at $1,030,000 after acquiring an additional 1,200 shares during the period. Finally, Allworth Financial LP acquired a new stake in Fulgent Genetics during the 2nd quarter valued at $25,000. 48.06% of the stock is owned by institutional investors and hedge funds.

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.