Fulgent Genetics, Inc. (NASDAQ:FLGT) Given Average Rating of “Hold” by Brokerages

Fulgent Genetics, Inc. (NASDAQ:FLGT) has received a consensus rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $27.00.

A number of analysts have recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and set a $15.00 target price (down from $30.00) on shares of Fulgent Genetics in a research note on Tuesday, May 5th. Wall Street Zen upgraded shares of Fulgent Genetics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th.

Insider Transactions at Fulgent Genetics

In other news, insider Hanlin Gao sold 1,688 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $30,198.32. Following the transaction, the insider directly owned 990,374 shares of the company’s stock, valued at approximately $17,717,790.86. This trade represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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. Also, COO Jian Xie sold 2,146 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $38,391.94. Following the sale, the chief operating officer directly owned 367,605 shares of the company’s stock, valued at $6,576,453.45. This represents a 0.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 5,980 shares of company stock worth $106,360 over the last 90 days. Insiders own 36.18% of the company’s stock.

Institutional Investors Weigh In On Fulgent Genetics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Amundi raised its holdings in shares of 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 acquiring an additional 25,500 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Fulgent Genetics by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock valued at $3,428,000 after purchasing an additional 45,279 shares during the period. Legal & General Group Plc lifted its position in shares of Fulgent Genetics by 14.1% in the 2nd quarter. Legal & General Group Plc now owns 21,025 shares of the company’s stock worth $418,000 after purchasing an additional 2,599 shares during the period. Rhumbline Advisers lifted its position in shares of Fulgent Genetics by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock worth $659,000 after purchasing an additional 785 shares during the period. Finally, American Century Companies Inc. increased its holdings in Fulgent Genetics by 8.0% during 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. 48.06% of the stock is owned by institutional investors.

Fulgent Genetics Stock Performance

Fulgent Genetics stock traded down $0.28 during mid-day trading on Tuesday, hitting $21.11. The company’s stock had a trading volume of 76,167 shares, compared to its average volume of 477,702. The company has a 50 day moving average of $17.71 and a 200-day moving average of $20.12. Fulgent Genetics has a one year low of $13.46 and a one year high of $31.04. The stock has a market cap of $599.52 million, a PE ratio of -8.85 and a beta of 0.89.

Fulgent Genetics Company Profile

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.