Jian Xie Sells 1,128 Shares of Fulgent Genetics (NASDAQ:FLGT) 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 firm'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 value of $24,849.84. Following the completion of the transaction, the chief operating officer owned 364,121 shares in the company, valued at $8,021,585.63. This represents a 0.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $21.48, for a total value of $25,754.52.
• On Monday, August 25th, Jian Xie sold 696 shares of Fulgent Genetics stock. The shares were sold at an average price of $21.50, for a total value of $14,964.00.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock traded down $0.29 during trading hours on Wednesday, hitting $22.02. 315,985 shares of the company's stock traded hands, compared to its average volume of 349,906. The stock has a market capitalization of $674.01 million, a price-to-earnings 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 company has a fifty day simple moving average of $19.97 and a 200-day simple moving average of $19.05.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $76.21 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The firm's revenue for the quarter 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, analysts forecast that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Fulgent Genetics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its stake in shares of Fulgent Genetics by 5.8% in the 4th quarter. Northern Trust Corp now owns 225,362 shares of the company's stock valued at $4,162,000 after acquiring an additional 12,291 shares during the last quarter. Peapod Lane Capital LLC boosted its holdings in shares of Fulgent Genetics by 48.2% during the 1st quarter. Peapod Lane Capital LLC now owns 162,227 shares of the company's stock valued at $2,742,000 after buying an additional 52,768 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fulgent Genetics by 16.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 243,979 shares of the company's stock valued at $4,123,000 after purchasing an additional 33,768 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Fulgent Genetics in the first quarter worth $1,050,000. Finally, Squarepoint Ops LLC boosted its stake in Fulgent Genetics by 178.3% in the 4th quarter. Squarepoint Ops LLC now owns 41,608 shares of the company's stock worth $768,000 after purchasing an additional 26,659 shares in the last quarter. Institutional investors own 48.06% of the company's stock.

Wall Street Analyst Weigh In

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

Fulgent Genetics Company Profile

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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