Fulgent Genetics (NASDAQ:FLGT) Hits New 52-Week Low – Here’s Why

Fulgent Genetics, Inc. (NASDAQ:FLGT)’s stock price hit a new 52-week low on Monday . The stock traded as low as $16.07 and last traded at $16.49, with a volume of 29156 shares changing hands. The stock had previously closed at $16.64.

Analyst Ratings Changes

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

Fulgent Genetics Trading Up 2.8 %

The firm has a market cap of $515.14 million, a price-to-earnings ratio of -3.05 and a beta of 1.39. The stock has a fifty day moving average price of $18.38 and a 200 day moving average price of $20.34.

Insider Transactions at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,227 shares of Fulgent Genetics stock in a transaction dated 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 sale, the chief executive officer now directly owns 703,711 shares in the company, valued at $12,849,762.86. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 3,413 shares of company stock valued at $62,321. 32.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Fulgent Genetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its holdings in Fulgent Genetics by 55.7% during the second quarter. Creative Planning now owns 17,924 shares of the company’s stock worth $352,000 after purchasing an additional 6,415 shares during the last quarter. SG Americas Securities LLC increased its position in Fulgent Genetics by 36.1% during the third quarter. SG Americas Securities LLC now owns 17,452 shares of the company’s stock worth $379,000 after acquiring an additional 4,626 shares during the period. Marquette Asset Management LLC grew its position in Fulgent Genetics by 13.7% during the third quarter. Marquette Asset Management LLC now owns 9,908 shares of the company’s stock worth $215,000 after buying an additional 1,191 shares in the last quarter. Easterly Investment Partners LLC bought a new position in Fulgent Genetics in the 3rd quarter valued at about $208,000. Finally, Empowered Funds LLC lifted its position in shares of Fulgent Genetics by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 90,402 shares of the company’s stock worth $1,964,000 after buying an additional 4,556 shares during the last quarter. Institutional investors own 48.06% of the company’s stock.

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.