Jian Xie Sells 681 Shares of Fulgent Genetics (NASDAQ:FLGT) Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 681 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $30.47, for a total transaction of $20,750.07. Following the completion of the sale, the chief operating officer owned 339,087 shares in the company, valued at $10,331,980.89. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, November 19th, Jian Xie sold 10,000 shares of Fulgent Genetics stock. The shares were sold at an average price of $29.10, for a total value of $291,000.00.
• On Wednesday, September 3rd, Jian Xie sold 1,128 shares of Fulgent Genetics stock. The stock was sold at an average price of $22.03, for a total value of $24,849.84.
• 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 value of $25,754.52.

Fulgent Genetics Stock Up 0.7%

Shares of FLGT traded up $0.20 during trading hours on Tuesday, reaching $30.85. 299,434 shares of the company traded hands, compared to its average volume of 331,292. The stock has a market capitalization of $953.64 million, a PE ratio of -18.58 and a beta of 0.92. The stock has a fifty day simple moving average of $24.22 and a 200 day simple moving average of $21.72. Fulgent Genetics, Inc. has a fifty-two week low of $14.57 and a fifty-two week high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last announced its earnings results on Friday, November 7th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.36. The firm had revenue of $84.07 million during the quarter, compared to the consensus estimate of $81.43 million. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. Research analysts predict that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on FLGT shares. Piper Sandler increased their price target on Fulgent Genetics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Raymond James Financial reiterated an “outperform” rating and issued a $36.00 target price on shares of Fulgent Genetics in a research note on Friday, November 14th. UBS Group raised Fulgent Genetics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $20.00 to $30.00 in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Fulgent Genetics from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Fulgent Genetics presently has an average rating of “Hold” and a consensus price target of $32.00.

Institutional Investors Weigh In On Fulgent Genetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLGT. Signaturefd LLC grew its holdings in shares of Fulgent Genetics by 60.4% during the 2nd quarter. Signaturefd LLC now owns 1,914 shares of the company’s stock worth $38,000 after purchasing an additional 721 shares during the period. Raymond James Financial Inc. acquired a new position in Fulgent Genetics during the second quarter valued at approximately $49,000. Quantbot Technologies LP purchased a new stake in Fulgent Genetics during the third quarter worth approximately $61,000. PNC Financial Services Group Inc. grew its stake in Fulgent Genetics by 122.8% during the first quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company’s stock worth $60,000 after buying an additional 1,963 shares during the period. Finally, State of Wyoming raised its stake in shares of Fulgent Genetics by 111.1% in the 1st quarter. State of Wyoming now owns 6,564 shares of the company’s stock valued at $111,000 after acquiring an additional 3,455 shares during the period. 48.06% of the stock is currently owned by institutional investors and hedge funds.

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.