Jian Xie Sells 1,873 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) COO Jian Xie sold 1,873 shares of Fulgent Genetics stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $20.54, for a total value of $38,471.42. Following the sale, the chief operating officer now owns 372,631 shares in the company, valued at $7,653,840.74. The trade was a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT remained flat at $20.61 during midday trading on Friday. 368,147 shares of the stock traded hands, compared to its average volume of 280,781. The stock has a market cap of $627.45 million, a price-to-earnings ratio of -3.73 and a beta of 1.00. The company's 50 day simple moving average is $18.76 and its two-hundred day simple moving average is $18.06. Fulgent Genetics, Inc. has a one year low of $14.57 and a one year high of $25.11.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.22. The business had revenue of $73.46 million for the quarter, compared to analysts' expectations of $71.26 million. Fulgent Genetics had a negative net margin of 59.39% and a negative return on equity of 1.81%. The business's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) EPS. As a group, analysts expect that Fulgent Genetics, Inc. will post -0.85 EPS for the current year.

Hedge Funds Weigh In On Fulgent Genetics

Several hedge funds have recently bought and sold shares of FLGT. Millennium Management LLC boosted its holdings in Fulgent Genetics by 28.6% in the 1st quarter. Millennium Management LLC now owns 1,969,433 shares of the company's stock valued at $33,283,000 after purchasing an additional 437,632 shares during the period. Acadian Asset Management LLC boosted its stake in Fulgent Genetics by 124.0% during the first quarter. Acadian Asset Management LLC now owns 805,941 shares of the company's stock valued at $13,611,000 after buying an additional 446,076 shares during the period. Geode Capital Management LLC boosted its stake in Fulgent Genetics by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 514,152 shares of the company's stock valued at $9,499,000 after buying an additional 11,283 shares during the period. Ameriprise Financial Inc. grew its position in Fulgent Genetics by 40.8% during the fourth quarter. Ameriprise Financial Inc. now owns 501,809 shares of the company's stock worth $9,268,000 after buying an additional 145,518 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Fulgent Genetics by 39.4% in the 4th quarter. JPMorgan Chase & Co. now owns 471,259 shares of the company's stock worth $8,704,000 after acquiring an additional 133,215 shares during the last quarter. Hedge funds and other institutional investors own 48.06% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FLGT shares. Wall Street Zen raised shares of Fulgent Genetics from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Piper Sandler restated a "neutral" rating and issued a $23.00 target price (up from $16.00) on shares of Fulgent Genetics in a research note on Tuesday, May 6th. Finally, Raymond James reaffirmed an "outperform" rating and set a $25.00 price target (up previously from $24.00) on shares of Fulgent Genetics in a research report on Monday, May 5th.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company's clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases.