Jian Xie Sells 1,193 Shares of Fulgent Genetics (NASDAQ:FLGT) Stock

Key Points

• COO Jian Xie sold 1,193 Fulgent Genetics shares at an average price of $19.91, generating $23,752.63. The sale covered tax-withholding obligations, leaving Xie with 362,051 shares.
• Fulgent Genetics recently reported weaker-than-expected quarterly results, with a loss of $0.58 per share versus the estimated $0.46 loss and revenue of $85.39 million versus the $94 million consensus.
• The stock traded near $19.61, while analysts maintained an overall “Hold” rating with a consensus price target of $27.50; institutional investors own about 48.06% of the company.

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) COO Jian Xie sold 1,193 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $19.91, for a total value of $23,752.63. Following the completion of the sale, the chief operating officer owned 362,051 shares of the company's stock, valued at $7,208,435.41. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Tuesday, June 2nd, Jian Xie sold 2,146 shares of Fulgent Genetics stock. The shares were sold at an average price of $17.89, for a total value of $38,391.94.

Fulgent Genetics Price Performance

Shares of FLGT traded down $0.34 on Friday, reaching $19.61. 192,538 shares of the stock traded hands, compared to its average volume of 431,774. The stock's 50-day moving average price is $19.59 and its 200-day moving average price is $18.14. The firm has a market cap of $539.57 million, a price-to-earnings ratio of -6.95 and a beta of 0.90. Fulgent Genetics, Inc. has a 12 month low of $13.46 and a 12 month high of $31.04.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.58) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.12). The business had revenue of $85.39 million for the quarter, compared to analyst estimates 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. As a group, equities research analysts forecast that Fulgent Genetics, Inc. will post -3.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fulgent Genetics

Large investors have recently made changes to their positions in the company. Quantinno Capital Management LP boosted its holdings in shares of Fulgent Genetics by 374.7% in the 1st quarter. Quantinno Capital Management LP now owns 137,479 shares of the company's stock worth $2,186,000 after acquiring an additional 108,519 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Fulgent Genetics during the first quarter valued at $1,076,000. Medina Value Partners LLC bought a new position in shares of Fulgent Genetics in the 2nd quarter valued at about $3,961,612. Hennion & Walsh Asset Management Inc. boosted its stake in Fulgent Genetics by 32.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 111,405 shares of the company's stock valued at $2,286,000 after acquiring an additional 27,395 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Fulgent Genetics by 2,984,354.9% in the 4th 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 during the last quarter. Institutional investors own 48.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings raised shares of Fulgent Genetics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday. Wall Street Zen downgraded Fulgent Genetics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Finally, Piper Sandler upped their price objective on Fulgent Genetics from $15.00 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $27.50.

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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