Fulgent Genetics, Inc. $FLGT Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors cut its Fulgent Genetics stake by 24.4% in the first quarter, selling 217,348 shares and retaining 671,664 shares valued at approximately $10.7 million. Institutional investors and hedge funds collectively own 48.06% of FLGT.
• Fulgent Genetics reported a quarterly loss of $0.58 per share, missing the $0.46 consensus estimate, while revenue of $85.39 million fell short of expectations of $94 million. The company has a negative net margin of 26.05%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $27.50; FLGT recently traded at $19.14. Insiders also sold a modest 5,980 shares over the past 90 days, primarily to cover tax obligations tied to equity awards.

Dimensional Fund Advisors LP trimmed its position in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 24.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 671,664 shares of the company's stock after selling 217,348 shares during the quarter. Dimensional Fund Advisors LP owned 2.26% of Fulgent Genetics worth $10,679,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FLGT. Hsbc Holdings PLC lifted its holdings in shares of Fulgent Genetics by 25.2% during the 1st quarter. Hsbc Holdings PLC now owns 65,174 shares of the company's stock valued at $1,031,000 after acquiring an additional 13,118 shares in the last quarter. Counterpoint Mutual Funds LLC boosted its position in Fulgent Genetics by 78.2% during the 1st quarter. Counterpoint Mutual Funds LLC now owns 34,306 shares of the company's stock worth $545,000 after purchasing an additional 15,056 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Fulgent Genetics in the 1st quarter valued at $1,076,000. Caitong International Asset Management Co. Ltd increased its holdings in Fulgent Genetics by 214.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company's stock valued at $48,000 after purchasing an additional 1,251 shares in the last quarter. Finally, XTX Topco Ltd raised its position in Fulgent Genetics by 33.1% in the fourth quarter. XTX Topco Ltd now owns 22,195 shares of the company's stock valued at $583,000 after purchasing an additional 5,523 shares during the period. 48.06% of the stock is owned by institutional investors and hedge funds.

Fulgent Genetics Stock Performance

Shares of Fulgent Genetics stock opened at $19.14 on Monday. Fulgent Genetics, Inc. has a 1 year low of $13.46 and a 1 year high of $31.04. The firm's 50-day simple moving average is $19.37 and its 200-day simple moving average is $18.84. The firm has a market cap of $526.54 million, a PE ratio of -6.79 and a beta of 0.91.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its 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 return on equity of 4.93% and a negative net margin of 26.05%.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. On average, equities analysts predict that Fulgent Genetics, Inc. will post -2.81 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on FLGT. Piper Sandler boosted 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. Wall Street Zen downgraded shares of Fulgent Genetics from a "sell" rating to a "strong sell" rating in a research report on Saturday. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Fulgent Genetics in a research note on Monday, July 6th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $27.50.

Insider Activity at Fulgent Genetics

In related news, insider Hanlin Gao sold 1,688 shares of the business'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 $30,198.32. Following the completion of the transaction, the insider owned 990,374 shares in the company, valued at $17,717,790.86. The trade was a 0.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $38,391.94. Following the transaction, the chief operating officer owned 367,605 shares of the company's stock, valued at approximately $6,576,453.45. The trade was a 0.58% decrease in their ownership of the stock. 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. Insiders have sold 5,980 shares of company stock valued at $106,360 over the last ninety days. Corporate insiders own 36.18% of the company's stock.

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.

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