Fulgent Genetics (NASDAQ:FLGT) COO Sells 2,127 Shares

Key Points

• COO Jian Xie sold 2,127 Fulgent Genetics shares at an average price of $19.66, generating $41,816.82. The sale covered tax withholding on vested equity awards, leaving Xie with 359,924 shares.
• Fulgent Genetics shares fell 1.9% to $19.65, while the company’s latest quarterly results missed expectations: adjusted EPS was a loss of $0.58 versus the $0.46 consensus estimate, and revenue was $85.39 million compared with $94 million expected.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Hold” rating and a $27.50 target price. Institutional investors own approximately 48.06% of the company.

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) COO Jian Xie sold 2,127 shares of the business's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $19.66, for a total transaction of $41,816.82. Following the transaction, the chief operating officer owned 359,924 shares in the company, valued at $7,076,105.84. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jian Xie also recently made the following trade(s):

• On Thursday, August 27th, Jian Xie sold 1,193 shares of Fulgent Genetics stock. The shares were sold at an average price of $19.91, for a total transaction of $23,752.63.

Fulgent Genetics Stock Down 1.9%

FLGT traded down $0.39 during trading on Thursday, reaching $19.65. The company's stock had a trading volume of 283,530 shares, compared to its average volume of 233,486. The firm has a fifty day simple moving average of $19.71 and a two-hundred day simple moving average of $18.01. Fulgent Genetics, Inc. has a 1 year low of $13.46 and a 1 year high of $31.04. The company has a market cap of $540.57 million, a price-to-earnings ratio of -6.97 and a beta of 0.93.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its earnings results 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). Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%.The company had revenue of $85.39 million for the quarter, compared to analyst estimates of $94.00 million. Fulgent Genetics has set its FY 2026 guidance at -2.350--2.220 EPS. As a group, equities analysts forecast that Fulgent Genetics, Inc. will post -3.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulgent Genetics

A number of hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its position in Fulgent Genetics by 69.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company's stock valued at $35,000 after purchasing an additional 548 shares during the period. Federated Hermes Inc. raised its holdings in shares of Fulgent Genetics by 1.2% in the 4th quarter. Federated Hermes Inc. now owns 47,102 shares of the company's stock valued at $1,237,000 after buying an additional 552 shares during the period. Rhumbline Advisers raised its holdings in shares of Fulgent Genetics by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 33,139 shares of the company's stock valued at $659,000 after buying an additional 785 shares during the period. Swiss National Bank lifted its stake in Fulgent Genetics by 3.2% during the 4th quarter. Swiss National Bank now owns 39,200 shares of the company's stock worth $1,030,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Allworth Financial LP purchased a new position in Fulgent Genetics during the 2nd quarter valued at about $25,000. Hedge funds and other institutional investors own 48.06% of the company's stock.

Wall Street Analyst Weigh In

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

Fulgent Genetics Company Profile

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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