Fulgent Genetics (NASDAQ:FLGT) Insider Hanlin Gao Sells 939 Shares

Key Points

• Insider Hanlin Gao sold 939 Fulgent Genetics shares at an average price of $19.91, generating $18,695.49. The sale covered tax obligations tied to vested equity awards and reduced Gao’s ownership by 0.09%.
• Fulgent Genetics shares fell 1.7% to $19.61, while the company’s latest quarterly results missed expectations: adjusted EPS was a loss of $0.58 versus the $0.46 expected, and revenue totaled $85.39 million compared with $94 million forecast.
• Analysts maintain a consensus “Hold” rating with an average price target of $27.50, while institutional investors own 48.06% of the company following several recent position increases and new stakes.

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) insider Hanlin Gao sold 939 shares of the company's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $19.91, for a total transaction of $18,695.49. Following the transaction, the insider owned 987,790 shares of the company's stock, valued at approximately $19,666,898.90. The trade was a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hanlin Gao also recently made the following trade(s):

• On Tuesday, June 2nd, Hanlin Gao sold 1,688 shares of Fulgent Genetics stock. The stock was sold at an average price of $17.89, for a total transaction of $30,198.32.

Fulgent Genetics Stock Down 1.7%

NASDAQ FLGT traded down $0.34 during midday trading on Friday, hitting $19.61. The company had a trading volume of 192,538 shares, compared to its average volume of 431,774. The firm has a fifty day simple moving average of $19.59 and a two-hundred day simple moving average of $18.14. Fulgent Genetics, Inc. has a fifty-two week low of $13.46 and a fifty-two week high of $31.04. The stock has a market cap of $539.57 million, a price-to-earnings ratio of -6.95 and a beta of 0.90.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.12). Fulgent Genetics had a negative net margin of 26.05% and a negative return on equity of 4.93%. 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 predict that Fulgent Genetics, Inc. will post -3.48 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Weiss Ratings raised Fulgent Genetics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday. Wall Street Zen lowered Fulgent Genetics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Finally, Piper Sandler boosted their price objective on Fulgent Genetics from $15.00 to $19.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $27.50.

Hedge Funds Weigh In On Fulgent Genetics

A number of hedge funds and other institutional investors have recently made changes to their positions in FLGT. BlackRock Inc. acquired a new stake in shares of Fulgent Genetics during the 2nd quarter valued at about $46,922,000. Northwestern Mutual Wealth Management Co. raised its position in Fulgent Genetics by 2,984,354.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company's stock worth $39,985,000 after purchasing an additional 1,522,021 shares in the last quarter. RTW Investments LP acquired a new position in Fulgent Genetics in the fourth quarter worth about $18,521,000. JPMorgan Chase & Co. raised its position in Fulgent Genetics by 767.0% in the third quarter. JPMorgan Chase & Co. now owns 299,014 shares of the company's stock worth $6,758,000 after purchasing an additional 264,524 shares in the last quarter. Finally, Medina Value Partners LLC bought a new position in Fulgent Genetics during the second quarter worth about $3,961,612. 48.06% of the stock is owned by institutional investors.

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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