Fulgent Genetics (NASDAQ:FLGT) Insider Hanlin Gao Sells 1,673 Shares of Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) insider Hanlin Gao sold 1,673 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $19.66, for a total transaction of $32,891.18. Following the completion of the sale, the insider directly owned 986,117 shares of the company’s stock, valued at $19,387,060.22. The trade was a 0.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hanlin Gao also recently made the following trade(s):

• On Thursday, August 27th, Hanlin Gao sold 939 shares of Fulgent Genetics stock. The shares were sold at an average price of $19.91, for a total transaction of $18,695.49.

Fulgent Genetics Trading Down 1.9%

NASDAQ:FLGT opened at $19.65 on Friday. The firm’s fifty day simple moving average is $19.71 and its 200 day simple moving average is $18.01. Fulgent Genetics, Inc. has a twelve month low of $13.46 and a twelve month high of $31.04. The firm has a market capitalization of $540.57 million, a price-to-earnings ratio of -6.97 and a beta of 0.93.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Fulgent Genetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moore Capital Management LP boosted its position in Fulgent Genetics by 4.8% in the 2nd quarter. Moore Capital Management LP now owns 48,343 shares of the company’s stock valued at $992,000 after buying an additional 2,219 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Fulgent Genetics during the second quarter worth about $276,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Fulgent Genetics during the second quarter worth about $1,134,000. Almitas Capital LLC acquired a new position in shares of Fulgent Genetics in the second quarter worth about $2,150,000. Finally, Corient Private Wealth LP acquired a new position in shares of Fulgent Genetics in the second quarter worth about $880,000. Hedge funds and other 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.