Fulgent Genetics (NASDAQ:FLGT) Insider Sells $23,417.89 in 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 business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $22.03, for a total value of $23,417.89. Following the transaction, the insider directly owned 957,085 shares of the company's stock, valued at approximately $21,084,582.55. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 value 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 Performance

NASDAQ FLGT traded up $0.32 on Monday, reaching $22.27. The stock had a trading volume of 166,995 shares, compared to its average volume of 199,273. Fulgent Genetics, Inc. has a 12-month low of $14.57 and a 12-month high of $23.56. The business's 50-day moving average price is $20.11 and its 200 day moving average price is $19.19. The stock has a market cap of $681.68 million, a P/E ratio of -13.42 and a beta of 0.81.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last released its quarterly 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. Fulgent Genetics had a negative return on equity of 2.26% and a negative net margin of 16.83%.The business had revenue of $81.80 million during the quarter, compared to analysts' expectations of $76.21 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The company's quarterly revenue was up 15.2% compared to the same quarter last year. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. On average, sell-side analysts predict that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on FLGT. Piper Sandler set a $21.00 target price on Fulgent Genetics and gave the company a "neutral" rating in a report on Monday, August 4th. UBS Group raised Fulgent Genetics from a "neutral" rating to a "buy" rating and increased their price objective for the company from $20.00 to $30.00 in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $25.33.

Hedge Funds Weigh In On Fulgent Genetics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caxton Associates LLP increased its holdings in Fulgent Genetics by 7.8% during the 2nd quarter. Caxton Associates LLP now owns 67,761 shares of the company's stock worth $1,347,000 after purchasing an additional 4,898 shares during the last quarter. Headlands Technologies LLC increased its holdings in Fulgent Genetics by 108.1% during the 2nd quarter. Headlands Technologies LLC now owns 14,650 shares of the company's stock worth $291,000 after purchasing an additional 7,609 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Fulgent Genetics by 2.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 87,318 shares of the company's stock worth $1,736,000 after purchasing an additional 2,128 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Fulgent Genetics during the 2nd quarter worth approximately $49,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Fulgent Genetics in the 2nd quarter valued at approximately $1,598,000. 48.06% of the stock is owned by institutional investors and hedge funds.

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.