Fulgent Genetics, Inc. $FLGT Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management cut its Fulgent Genetics stake by 55.6% in the second quarter, selling 56,283 shares and retaining 45,020 shares valued at approximately $924,000. Institutional investors and hedge funds collectively own 48.06% of the company.
• Fulgent Genetics insiders sold 5,932 shares worth $117,156 over the past quarter, including transactions by executives Hanlin Gao and Jian Xie. The sales were made to cover tax obligations from vested equity awards.
• The company reported quarterly EPS of -$0.58, missing the consensus estimate of -$0.46, while revenue of $85.39 million fell short of the $94 million estimate. Analysts maintain a consensus “Hold” rating with an average price target of $27.50.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 55.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,020 shares of the company's stock after selling 56,283 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.16% of Fulgent Genetics worth $924,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Allworth Financial LP acquired a new position in Fulgent Genetics during the 2nd quarter worth approximately $25,000. Kestra Advisory Services LLC purchased a new position in Fulgent Genetics in the fourth quarter valued at about $35,000. Caitong International Asset Management Co. Ltd grew its stake 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 valued at $48,000 after purchasing an additional 1,251 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Fulgent Genetics during the second quarter worth approximately $38,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Fulgent Genetics in the second quarter worth $49,000. Institutional investors and hedge funds own 48.06% of the company's stock.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, insider Hanlin Gao sold 1,673 shares of the business's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total value of $32,891.18. Following the sale, the insider directly owned 986,117 shares in the company, valued at approximately $19,387,060.22. The trade was a 0.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,127 shares of Fulgent Genetics stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $19.66, for a total transaction of $41,816.82. Following the completion of the transaction, the chief operating officer directly owned 359,924 shares in the company, valued at $7,076,105.84. This represents a 0.59% decrease in their position. 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 quarter, insiders have sold 5,932 shares of company stock worth $117,156. 36.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FLGT has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Fulgent Genetics from $15.00 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of Fulgent Genetics from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 29th. Finally, Weiss Ratings upgraded shares of Fulgent Genetics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 27th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Fulgent Genetics currently has a consensus rating of "Hold" and an average price target of $27.50.

Fulgent Genetics Price Performance

FLGT stock opened at $20.45 on Monday. The company has a market capitalization of $562.58 million, a P/E ratio of -7.25 and a beta of 0.93. The company has a 50-day simple moving average of $19.64 and a 200 day simple moving average of $17.88. Fulgent Genetics, Inc. has a fifty-two week low of $13.46 and a fifty-two week high of $31.04.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.12). The company had revenue of $85.39 million for the quarter, compared to the consensus estimate of $94.00 million. Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%.Fulgent Genetics has set its FY 2026 guidance at -2.350--2.220 EPS. Equities analysts anticipate that Fulgent Genetics, Inc. will post -3.48 EPS for the current year.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc is a genetics and clinical diagnostic testing company that develops and provides advanced molecular testing services. The company uses next-generation sequencing and other molecular technologies to support the diagnosis, screening and management of a range of inherited and acquired conditions.

Its offerings include hereditary disease testing, cancer and tumor profiling, reproductive health and carrier screening, pharmacogenetic testing, and infectious disease diagnostics.

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