Fulgent Genetics (NASDAQ:FLGT) Trading 5.7% Higher – Still a Buy?

Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) traded up 5.7% on Monday . The company traded as high as $19.45 and last traded at $19.34. 125,541 shares were traded during trading, a decline of 32% from the average session volume of 184,898 shares. The stock had previously closed at $18.30.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Piper Sandler dropped their target price on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th.

Fulgent Genetics Stock Performance

The firm has a market capitalization of $588.25 million, a price-to-earnings ratio of -3.32 and a beta of 1.51. The company has a 50 day moving average price of $19.79 and a two-hundred day moving average price of $21.09.

Insider Transactions at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,227 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.26, for a total value of $40,665.02. Following the completion of the transaction, the chief executive officer now directly owns 703,711 shares of the company’s stock, valued at approximately $12,849,762.86. This represents a 0.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 3,413 shares of company stock valued at $62,321 in the last three months. 31.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FLGT. Franklin Resources Inc. acquired a new stake in shares of Fulgent Genetics in the 3rd quarter worth $215,000. Geode Capital Management LLC increased its stake in shares of Fulgent Genetics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 502,869 shares of the company’s stock worth $10,930,000 after acquiring an additional 13,320 shares during the last quarter. Barclays PLC increased its stake in shares of Fulgent Genetics by 22.6% in the 3rd quarter. Barclays PLC now owns 174,855 shares of the company’s stock worth $3,800,000 after acquiring an additional 32,250 shares during the last quarter. State Street Corp increased its stake in shares of Fulgent Genetics by 1.4% in the 3rd quarter. State Street Corp now owns 793,545 shares of the company’s stock worth $17,244,000 after acquiring an additional 10,868 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Fulgent Genetics in the 3rd quarter worth $46,000. 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.