Fulgent Genetics (NASDAQ:FLGT) COO Sells $41,816.82 in Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 2,127 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total value of $41,816.82. Following the completion of the sale, the chief operating officer owned 359,924 shares in the company, valued at $7,076,105.84. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 Thursday, August 27th, Jian Xie sold 1,193 shares of Fulgent Genetics stock. The shares were sold at an average price of $19.91, for a total transaction of $23,752.63.

Fulgent Genetics Stock Up 0.4%

FLGT opened at $19.73 on Friday. The company has a market capitalization of $542.77 million, a price-to-earnings ratio of -7.00 and a beta of 0.93. The firm has a 50-day moving average price of $19.70 and a 200-day moving average price of $18.03. Fulgent Genetics, Inc. has a twelve month low of $13.46 and a twelve month high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.12). The business had revenue of $85.39 million for the quarter, compared to analysts’ expectations of $94.00 million. Fulgent Genetics had a negative net margin of 26.05% and a negative return on equity of 4.93%. Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. On average, sell-side analysts expect that Fulgent Genetics, Inc. will post -3.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FLGT shares. Weiss Ratings upgraded Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. Piper Sandler lifted their target price on Fulgent Genetics from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $27.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Fulgent Genetics in the second quarter valued at $46,922,000. Northwestern Mutual Wealth Management Co. lifted its stake in Fulgent Genetics by 2,984,354.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock worth $39,985,000 after purchasing an additional 1,522,021 shares during the last quarter. RTW Investments LP purchased a new position in shares of Fulgent Genetics in the 4th quarter worth about $18,521,000. JPMorgan Chase & Co. boosted its holdings in shares of Fulgent Genetics by 767.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 299,014 shares of the company’s stock worth $6,758,000 after purchasing an additional 264,524 shares in the last quarter. Finally, Medina Value Partners LLC bought a new position in shares of Fulgent Genetics during the 2nd quarter valued at about $3,961,612. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

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.