Insider Selling: Fulgent Genetics (NASDAQ:FLGT) COO Sells 2,127 Shares

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 2,127 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.66, for a total value of $41,816.82. Following the transaction, the chief operating officer directly owned 359,924 shares of the company’s stock, valued at $7,076,105.84. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jian Xie also recently made the following trade(s):

• On Thursday, August 27th, Jian Xie sold 1,193 shares of Fulgent Genetics stock. The shares were sold at an average price of $19.91, for a total value of $23,752.63.

Fulgent Genetics Price Performance

Shares of FLGT stock traded down $0.39 during trading hours on Thursday, reaching $19.65. 283,530 shares of the stock were exchanged, compared to its average volume of 233,486. The business’s fifty day moving average is $19.71 and its two-hundred day moving average is $18.01. Fulgent Genetics, Inc. has a 12-month low of $13.46 and a 12-month high of $31.04. The firm has a market capitalization of $540.57 million, a P/E ratio of -6.97 and a beta of 0.93.

Fulgent Genetics (NASDAQ:FLGT) last issued its earnings results on Thursday, July 30th. The company reported ($0.58) earnings per share 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 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. As a group, equities research analysts predict that Fulgent Genetics, Inc. will post -3.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP purchased a new stake in shares of Fulgent Genetics in the second quarter valued at about $25,000. Farther Finance Advisors LLC increased its position in Fulgent Genetics by 69.3% in the 4th 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. Kestra Advisory Services LLC acquired a new position in Fulgent Genetics in the 4th quarter valued at about $35,000. Legal & General Group Plc purchased a new stake in Fulgent Genetics during the 2nd quarter valued at approximately $38,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in 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 worth $48,000 after acquiring an additional 1,251 shares during the period. 48.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FLGT. Wall Street Zen raised Fulgent Genetics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 29th. Weiss Ratings raised Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. Finally, Piper Sandler increased their price objective on Fulgent Genetics from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.50.

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.