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

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

Fulgent Genetics Price Performance

Fulgent Genetics stock opened at $18.14 on Friday. Fulgent Genetics, Inc. has a 1-year low of $13.46 and a 1-year high of $31.04. The stock has a market cap of $515.18 million, a PE ratio of -7.59 and a beta of 0.88. The stock’s fifty day moving average is $16.10 and its two-hundred day moving average is $21.91.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Friday, February 27th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $85.38 million. On average, research analysts expect that Fulgent Genetics, Inc. will post -2.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fulgent Genetics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Fulgent Genetics by 2,984,354.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock worth $39,985,000 after buying an additional 1,522,021 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Fulgent Genetics by 1.8% during the third quarter. Millennium Management LLC now owns 1,468,844 shares of the company’s stock worth $33,196,000 after buying an additional 26,582 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Fulgent Genetics by 1.1% during the third quarter. Vanguard Group Inc. now owns 1,179,254 shares of the company’s stock worth $26,651,000 after buying an additional 13,295 shares during the last quarter. RTW Investments LP purchased a new position in shares of Fulgent Genetics during the fourth quarter worth about $18,521,000. Finally, Geode Capital Management LLC grew its holdings in shares of Fulgent Genetics by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 508,224 shares of the company’s stock worth $13,353,000 after buying an additional 6,553 shares during the last quarter. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on FLGT shares. Wall Street Zen upgraded Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research note on Saturday. Piper Sandler restated a “neutral” rating and issued a $15.00 price target (down from $30.00) on shares of Fulgent Genetics in a research note on Tuesday, May 5th. Finally, Zacks Research lowered Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Fulgent Genetics has an average rating of “Hold” and a consensus price target of $27.00.

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.