Jian Xie Sells 2,146 Shares of Fulgent Genetics (NASDAQ:FLGT) Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 2,146 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $38,391.94. Following the transaction, the chief operating officer directly owned 367,605 shares of the company’s stock, valued at $6,576,453.45. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, May 27th, Jian Xie sold 1,201 shares of Fulgent Genetics stock. The shares were sold at an average price of $17.60, for a total value of $21,137.60.

Fulgent Genetics Stock Performance

Shares of NASDAQ FLGT opened at $19.55 on Friday. The stock has a 50 day moving average price of $16.32 and a 200 day moving average price of $21.58. Fulgent Genetics, Inc. has a 52 week low of $13.46 and a 52 week high of $31.04. The stock has a market capitalization of $555.33 million, a PE ratio of -8.18 and a beta of 0.94.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen raised Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. Zacks Research cut Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Piper Sandler reissued a “neutral” rating and set a $15.00 price target (down from $30.00) on shares of Fulgent Genetics in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.00.

Institutional Trading of Fulgent Genetics

Several institutional investors and hedge funds have recently bought and sold shares of FLGT. Amundi raised its stake in Fulgent Genetics by 289.2% in the first quarter. Amundi now owns 34,316 shares of the company’s stock valued at $583,000 after buying an additional 25,500 shares during the period. Goldman Sachs Group Inc. raised its stake in Fulgent Genetics by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock valued at $3,428,000 after buying an additional 45,279 shares during the period. Legal & General Group Plc raised its stake in Fulgent Genetics by 14.1% in the second quarter. Legal & General Group Plc now owns 21,025 shares of the company’s stock valued at $418,000 after buying an additional 2,599 shares during the period. Rhumbline Advisers raised its stake in Fulgent Genetics by 2.4% in the second quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock valued at $659,000 after buying an additional 785 shares during the period. Finally, American Century Companies Inc. raised its stake in Fulgent Genetics by 8.0% in the second quarter. American Century Companies Inc. now owns 52,168 shares of the company’s stock valued at $1,037,000 after buying an additional 3,860 shares during the period. Institutional investors own 48.06% of the company’s stock.

About Fulgent Genetics

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.