Fulgent Genetics (NASDAQ:FLGT) Share Price Crosses Below Fifty Day Moving Average - Here's What Happened

Key Points

• Fulgent Genetics shares fell below their 50-day moving average of $19.40, trading as low as $18.96 before closing at $19.74.
• Analyst sentiment remains mixed, with one Buy, two Hold, and one Sell rating; the consensus rating is Hold with a $27.50 price target.
• The company missed quarterly expectations, reporting an adjusted loss of $0.58 per share versus an estimated loss of $0.46 and revenue of $85.39 million versus the $94 million consensus.

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $19.40 and traded as low as $18.96. Fulgent Genetics shares last traded at $19.74, with a volume of 264,961 shares.

Wall Street Analysts Forecast Growth

FLGT has been the topic of a number of research reports. Piper Sandler boosted their price objective on Fulgent Genetics from $15.00 to $19.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 4th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Fulgent Genetics in a report on Monday, July 6th. Finally, Wall Street Zen downgraded shares of Fulgent Genetics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $27.50.

Fulgent Genetics Stock Performance

The stock has a fifty day simple moving average of $19.40 and a two-hundred day simple moving average of $18.36. The stock has a market capitalization of $543.05 million, a price-to-earnings ratio of -7.00 and a beta of 0.90.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $85.39 million during the quarter, compared to the consensus estimate of $94.00 million. Fulgent Genetics had a negative net margin of 26.05% and a negative return on equity of 4.93%. Fulgent Genetics has set its FY 2026 guidance at -2.350--2.220 EPS. Research analysts forecast that Fulgent Genetics, Inc. will post -3.48 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jian Xie sold 2,146 shares of Fulgent Genetics 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 $38,391.94. Following the transaction, the chief operating officer owned 367,605 shares of the company's stock, valued at $6,576,453.45. The trade was a 0.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hanlin Gao sold 1,688 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 $30,198.32. Following the sale, the insider owned 990,374 shares of the company's stock, valued at $17,717,790.86. This trade represents a 0.17% 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. Insiders sold 5,980 shares of company stock worth $106,360 in the last 90 days. Corporate insiders own 36.18% of the company's stock.

Institutional Trading of Fulgent Genetics

Several institutional investors and hedge funds have recently made changes to their positions in FLGT. Allworth Financial LP purchased a new stake in Fulgent Genetics in the 2nd quarter valued at about $25,000. Farther Finance Advisors LLC boosted its stake in shares of Fulgent Genetics by 69.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company's stock worth $35,000 after buying an additional 548 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Fulgent Genetics in the fourth quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Fulgent Genetics by 214.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company's stock valued at $48,000 after acquiring an additional 1,251 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Fulgent Genetics during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 48.06% 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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