Hennion & Walsh Asset Management Inc. Has $2.29 Million Position in Fulgent Genetics, Inc. $FLGT

Hennion & Walsh Asset Management Inc. boosted its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 32.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,405 shares of the company’s stock after purchasing an additional 27,395 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Fulgent Genetics were worth $2,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLGT. Northwestern Mutual Wealth Management Co. raised its position in shares of Fulgent Genetics by 2,984,354.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock valued at $39,985,000 after purchasing an additional 1,522,021 shares during the period. RTW Investments LP bought a new stake in shares of Fulgent Genetics during the 4th quarter worth $18,521,000. JPMorgan Chase & Co. grew its stake in Fulgent Genetics by 767.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 299,014 shares of the company’s stock valued at $6,758,000 after buying an additional 264,524 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Fulgent Genetics by 89.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 348,533 shares of the company’s stock valued at $9,156,000 after buying an additional 164,535 shares during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Fulgent Genetics by 374.7% in the 1st quarter. Quantinno Capital Management LP now owns 137,479 shares of the company’s stock worth $2,186,000 after acquiring an additional 108,519 shares during the period. Institutional investors and hedge funds own 48.06% of the company’s stock.

Fulgent Genetics Trading Down 0.3%

FLGT opened at $19.00 on Wednesday. Fulgent Genetics, Inc. has a 1-year low of $13.46 and a 1-year high of $31.04. The stock has a market capitalization of $522.69 million, a price-to-earnings ratio of -6.74 and a beta of 0.90. The business has a 50 day moving average of $19.40 and a 200-day moving average of $18.72.

Fulgent Genetics (NASDAQ:FLGT) last announced its earnings results on Thursday, July 30th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.12). The company had revenue of $85.39 million for the quarter, compared to the consensus estimate of $94.00 million. Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%.Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. Equities analysts predict that Fulgent Genetics, Inc. will post -2.81 EPS for the current year.

Insider Buying and Selling at Fulgent Genetics

In other news, COO Jian Xie sold 2,146 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $38,391.94. Following the transaction, the chief operating officer owned 367,605 shares in the company, valued at approximately $6,576,453.45. The trade was a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hanlin Gao sold 1,688 shares of the company’s stock in a transaction dated 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 $17,717,790.86. This represents a 0.17% 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. Company insiders own 36.18% of the company’s stock.

Analysts Set New Price Targets

FLGT has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on shares of Fulgent Genetics from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fulgent Genetics in a research report on Monday, July 6th. Finally, Wall Street Zen lowered Fulgent Genetics from a “sell” rating to a “strong sell” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Fulgent Genetics presently has a consensus rating of “Hold” and a consensus price target of $27.50.

Fulgent Genetics 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.