Insider Selling: Fulgent Genetics (NASDAQ:FLGT) Insider Sells 1,063 Shares of Stock

Key Points

• Fulgent Genetics insider Hanlin Gao sold 1,063 shares at an average price of $22.03, decreasing their ownership by 0.11% and retaining approximately $21.08 million in company stock.
• Fulgent Genetics' stock has declined by 1.3% recently and currently trades at $22.02, with a market capitalization of $674.01 million.
• Analysts have given the stock a consensus rating of "Moderate Buy" with an average price target of $25.33, boosted by recent upgrades from UBS Group.

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) insider Hanlin Gao sold 1,063 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $22.03, for a total transaction of $23,417.89. Following the completion of the transaction, the insider owned 957,085 shares of the company's stock, valued at approximately $21,084,582.55. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, August 27th, Hanlin Gao sold 943 shares of Fulgent Genetics stock. The shares were sold at an average price of $21.48, for a total transaction of $20,255.64.
• On Monday, August 25th, Hanlin Gao sold 548 shares of Fulgent Genetics stock. The shares were sold at an average price of $21.50, for a total value of $11,782.00.

Fulgent Genetics Stock Down 1.3%

FLGT stock traded down $0.29 during trading hours on Wednesday, hitting $22.02. The company's stock had a trading volume of 315,985 shares, compared to its average volume of 349,906. The company has a market capitalization of $674.01 million, a PE ratio of -13.26 and a beta of 0.81. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $23.56. The stock has a 50 day moving average price of $19.97 and a two-hundred day moving average price of $19.05.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.30. The company had revenue of $81.80 million during the quarter, compared to the consensus estimate of $76.21 million. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. Sell-side analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On Fulgent Genetics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC lifted its holdings in shares of Fulgent Genetics by 8.0% during the 1st quarter. Headlands Technologies LLC now owns 7,041 shares of the company's stock worth $119,000 after acquiring an additional 524 shares during the period. Signaturefd LLC lifted its holdings in shares of Fulgent Genetics by 60.4% during the 2nd quarter. Signaturefd LLC now owns 1,914 shares of the company's stock worth $38,000 after acquiring an additional 721 shares during the period. Rhumbline Advisers lifted its holdings in shares of Fulgent Genetics by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 33,139 shares of the company's stock worth $659,000 after acquiring an additional 785 shares during the period. Aigen Investment Management LP boosted its holdings in shares of Fulgent Genetics by 11.3% in the 1st quarter. Aigen Investment Management LP now owns 13,081 shares of the company's stock worth $221,000 after acquiring an additional 1,328 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Fulgent Genetics by 2.1% in the first quarter. Hsbc Holdings PLC now owns 82,571 shares of the company's stock worth $1,404,000 after purchasing an additional 1,695 shares in the last quarter. 48.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

FLGT has been the topic of several research analyst reports. UBS Group upgraded shares of Fulgent Genetics from a "neutral" rating to a "buy" rating and raised their price target for the stock from $20.00 to $30.00 in a research report on Tuesday, August 5th. Piper Sandler set a $21.00 price target on shares of Fulgent Genetics and gave the stock a "neutral" rating in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.33.

About Fulgent Genetics

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.

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