Insider Selling: Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Sells $29,821.50 in Stock

Fulgent Genetics, Inc. (NASDAQ:FLGTGet Rating) COO Jian Xie sold 675 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $44.18, for a total value of $29,821.50. Following the completion of the transaction, the chief operating officer now directly owns 309,729 shares in the company, valued at $13,683,827.22. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Fulgent Genetics Stock Performance

NASDAQ:FLGT opened at $41.60 on Friday. The stock’s fifty day moving average price is $54.75 and its two-hundred day moving average price is $56.27. Fulgent Genetics, Inc. has a 52-week low of $41.19 and a 52-week high of $109.55. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 3.36 and a beta of 1.47.

Fulgent Genetics (NASDAQ:FLGTGet Rating) last issued its earnings results on Thursday, August 4th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. The company had revenue of $125.30 million during the quarter, compared to analysts’ expectations of $122.70 million. Fulgent Genetics had a net margin of 42.41% and a return on equity of 33.04%. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.47 EPS. On average, equities analysts predict that Fulgent Genetics, Inc. will post 5.71 EPS for the current fiscal year.

Institutional Trading of Fulgent Genetics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Fulgent Genetics by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,339,371 shares of the company’s stock valued at $83,590,000 after acquiring an additional 26,731 shares during the last quarter. State Street Corp raised its position in shares of Fulgent Genetics by 3.2% during the 2nd quarter. State Street Corp now owns 718,236 shares of the company’s stock valued at $39,165,000 after acquiring an additional 22,153 shares during the last quarter. Park West Asset Management LLC raised its position in shares of Fulgent Genetics by 152.0% during the 2nd quarter. Park West Asset Management LLC now owns 629,882 shares of the company’s stock valued at $34,347,000 after acquiring an additional 379,882 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Fulgent Genetics by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 374,211 shares of the company’s stock valued at $37,641,000 after buying an additional 14,369 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its position in shares of Fulgent Genetics by 7,094.9% in the 1st quarter. Aaron Wealth Advisors LLC now owns 324,344 shares of the company’s stock valued at $5,197,000 after buying an additional 319,836 shares in the last quarter. Institutional investors own 43.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FLGT. Credit Suisse Group began coverage on Fulgent Genetics in a report on Wednesday, August 24th. They issued an “outperform” rating and a $65.00 target price on the stock. Piper Sandler reduced their price objective on Fulgent Genetics from $85.00 to $70.00 in a report on Sunday, May 15th. Finally, TheStreet downgraded Fulgent Genetics from a “b-” rating to a “c+” rating in a report on Thursday, July 28th.

About Fulgent Genetics

(Get Rating)

Fulgent Genetics, Inc, together with its subsidiaries, provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients in the United States and internationally. The company offers genetic tests comprising Focus and Comprehensive oncology panels tests; Beacon carrier screening panels test for inherited conditions; solid tumor molecular profiling for somatic cancer testing; rapid whole genome testing for children in NICU and PICU; newborn genetic analysis panel; single front-line test to detect ataxia-related variants and repeat expansions through sequencing; picture genetics, a patient-initiated genetic testing; whole exome and clinical exome panel tests; whole genome, mutation, and repeat expansion testing services, as well as research service tests.

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Insider Buying and Selling by Quarter for Fulgent Genetics (NASDAQ:FLGT)

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