Jian Xie Sells 10,000 Shares of Fulgent Genetics (NASDAQ:FLGT) Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $29.10, for a total transaction of $291,000.00. Following the transaction, the chief operating officer directly owned 349,768 shares of the company’s stock, valued at approximately $10,178,248.80. This trade represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jian Xie also recently made the following trade(s):

• On Wednesday, September 3rd, Jian Xie sold 1,128 shares of Fulgent Genetics stock. The shares were sold at an average price of $22.03, for a total transaction of $24,849.84.
• On Wednesday, August 27th, Jian Xie sold 1,199 shares of Fulgent Genetics stock. The stock was sold at an average price of $21.48, for a total value of $25,754.52.
• On Monday, August 25th, Jian Xie sold 696 shares of Fulgent Genetics stock. The shares were sold at an average price of $21.50, for a total value of $14,964.00.

Fulgent Genetics Stock Up 4.2%

Shares of FLGT traded up $1.22 during mid-day trading on Friday, reaching $30.00. The company had a trading volume of 321,112 shares, compared to its average volume of 330,612. The stock has a market capitalization of $927.36 million, a P/E ratio of -18.07 and a beta of 0.92. Fulgent Genetics, Inc. has a 52-week low of $14.57 and a 52-week high of $30.59. The stock has a 50 day moving average of $23.88 and a two-hundred day moving average of $21.52.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.36. Fulgent Genetics had a negative return on equity of 2.26% and a negative net margin of 16.83%.The company had revenue of $84.07 million during the quarter, compared to analysts’ expectations of $81.43 million. Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. On average, sell-side analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Fulgent Genetics

Large investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Fulgent Genetics in the first quarter valued at approximately $1,050,000. Federated Hermes Inc. raised its stake in Fulgent Genetics by 11.0% in the 1st quarter. Federated Hermes Inc. now owns 46,479 shares of the company’s stock valued at $785,000 after purchasing an additional 4,597 shares during the last quarter. GSA Capital Partners LLP raised its stake in Fulgent Genetics by 442.1% in the 1st quarter. GSA Capital Partners LLP now owns 104,815 shares of the company’s stock valued at $1,771,000 after purchasing an additional 85,481 shares during the last quarter. XTX Topco Ltd acquired a new stake in Fulgent Genetics during the 1st quarter worth $324,000. Finally, PNC Financial Services Group Inc. boosted its stake in Fulgent Genetics by 122.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company’s stock worth $60,000 after purchasing an additional 1,963 shares during the last quarter. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FLGT has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Fulgent Genetics from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Wall Street Zen raised shares of Fulgent Genetics from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $36.00 target price on shares of Fulgent Genetics in a research report on Friday, November 14th. Finally, UBS Group raised Fulgent Genetics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $20.00 to $30.00 in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.00.

About Fulgent Genetics

Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company’s clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases.