Fulgent Genetics (NASDAQ:FLGT) COO Jian Xie Sells 1,193 Shares of Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 1,193 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $19.91, for a total transaction of $23,752.63. Following the transaction, the chief operating officer directly owned 362,051 shares of the company’s stock, valued at approximately $7,208,435.41. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Tuesday, June 2nd, Jian Xie sold 2,146 shares of Fulgent Genetics stock. The stock was sold at an average price of $17.89, for a total transaction of $38,391.94.

Fulgent Genetics Price Performance

Shares of NASDAQ:FLGT opened at $19.61 on Friday. The stock’s 50-day moving average is $19.63 and its 200 day moving average is $18.15. The company has a market cap of $539.47 million, a PE ratio of -6.95 and a beta of 0.90. Fulgent Genetics, Inc. has a 1 year low of $13.46 and a 1 year high of $31.04.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Fulgent Genetics

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP bought a new position in Fulgent Genetics in the second quarter worth $25,000. Farther Finance Advisors LLC boosted its stake in Fulgent Genetics by 69.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock worth $35,000 after acquiring an additional 548 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Fulgent Genetics in the fourth quarter worth about $35,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Fulgent Genetics by 214.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock valued at $48,000 after purchasing an additional 1,251 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Fulgent Genetics during the second quarter valued at approximately $38,000. 48.06% of the stock is currently owned by institutional investors.

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.