Fulgent Genetics, Inc. (NASDAQ:FLGT) Insider Sells $21,341.06 in Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) insider Hanlin Gao sold 1,039 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $20.54, for a total value of $21,341.06. Following the completion of the transaction, the insider now owns 962,035 shares in the company, valued at $19,760,198.90. This trade represents a 0.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Fulgent Genetics Trading Up 1.8%

NASDAQ:FLGT traded up $0.36 during mid-day trading on Wednesday, hitting $20.55. 210,151 shares of the company’s stock traded hands, compared to its average volume of 278,592. The firm has a 50 day moving average of $18.54 and a two-hundred day moving average of $18.03. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $25.11. The firm has a market capitalization of $625.62 million, a price-to-earnings ratio of -3.72 and a beta of 1.00.

Fulgent Genetics (NASDAQ:FLGT) last announced its earnings results on Friday, May 2nd. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.22. Fulgent Genetics had a negative return on equity of 1.81% and a negative net margin of 59.39%. The firm had revenue of $73.46 million during the quarter, compared to the consensus estimate of $71.26 million. During the same quarter in the prior year, the company earned ($0.01) EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities research analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Institutional Trading of Fulgent Genetics

Several hedge funds have recently added to or reduced their stakes in FLGT. Russell Investments Group Ltd. boosted its stake in Fulgent Genetics by 267.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company’s stock valued at $50,000 after purchasing an additional 1,960 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Fulgent Genetics in the 4th quarter worth approximately $57,000. State of Wyoming bought a new stake in shares of Fulgent Genetics in the 4th quarter worth approximately $57,000. PNC Financial Services Group Inc. lifted its position in shares of Fulgent Genetics by 122.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company’s stock worth $60,000 after acquiring an additional 1,963 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Fulgent Genetics in the 4th quarter worth approximately $74,000. Institutional investors own 48.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FLGT. Wall Street Zen upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Raymond James reiterated an “outperform” rating and set a $25.00 price target (up previously from $24.00) on shares of Fulgent Genetics in a research note on Monday, May 5th. Finally, Piper Sandler reiterated a “neutral” rating and set a $23.00 price target (up previously from $16.00) on shares of Fulgent Genetics in a research note on Tuesday, May 6th.

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.