Insider Selling: Fulgent Genetics (NASDAQ:FLGT) COO Sells 1,128 Shares of Stock

Key Points

• Jian Xie, COO of Fulgent Genetics, sold 1,128 shares at an average price of $22.03, reducing his total holdings to 364,121 shares valued at approximately $8 million.
• The company recently reported quarterly earnings of $0.07 per share, surpassing analyst expectations and showing a 15.2% year-over-year revenue increase.
• Analysts have generally rated Fulgent Genetics as a "Moderate Buy," with a consensus target price of $25.33, following upgrades from UBS Group raising their target from $20.00 to $30.00.

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) COO Jian Xie sold 1,128 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $22.03, for a total transaction of $24,849.84. Following the transaction, the chief operating officer directly owned 364,121 shares of the company's stock, valued at approximately $8,021,585.63. This represents a 0.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, August 27th, Jian Xie sold 1,199 shares of Fulgent Genetics stock. The stock was sold at an average price of $21.48, for a total transaction of $25,754.52.
• On Monday, August 25th, Jian Xie sold 696 shares of Fulgent Genetics stock. The stock was sold at an average price of $21.50, for a total transaction of $14,964.00.

Fulgent Genetics Price Performance

FLGT stock traded up $0.32 during midday trading on Monday, reaching $22.27. The company had a trading volume of 166,995 shares, compared to its average volume of 199,273. Fulgent Genetics, Inc. has a 1 year low of $14.57 and a 1 year high of $23.56. The company has a market capitalization of $681.68 million, a P/E ratio of -13.42 and a beta of 0.81. The firm has a 50-day moving average price of $20.11 and a 200-day moving average price of $19.19.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.30. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The company 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 company earned $0.15 EPS. The firm's revenue was up 15.2% on a year-over-year basis. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. On average, equities analysts predict that Fulgent Genetics, Inc. will post -0.85 EPS for the current year.

Institutional Investors Weigh In On Fulgent Genetics

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

Wall Street Analyst Weigh In

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