Key Points
- Insider sale: Fulgent Genetics insider Hanlin Gao sold 945 shares at $17.60 each, totaling about $16,632. The company said the sale was made to cover tax withholding obligations tied to vesting equity awards.
- Stock performance and valuation: FLGT was trading up 1.9% at $18.24, with a market cap of about $518 million. The shares have ranged from a 12-month low of $13.46 to a high of $31.04.
- Mixed analyst outlook: Analysts currently have a consensus Hold rating with a $27.00 price target, though recent actions included Piper Sandler reiterating neutral with a reduced $15 target and other firms downgrading the stock.
Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) insider Hanlin Gao sold 945 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $17.60, for a total value of $16,632.00. Following the completion of the transaction, the insider owned 992,062 shares of the company's stock, valued at approximately $17,460,291.20. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a 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.
Fulgent Genetics Trading Up 1.9%
FLGT opened at $18.24 on Friday. The stock has a fifty day simple moving average of $16.04 and a two-hundred day simple moving average of $21.94. The company has a market cap of $518.02 million, a price-to-earnings ratio of -7.63 and a beta of 0.88. Fulgent Genetics, Inc. has a 12-month low of $13.46 and a 12-month high of $31.04.
Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its quarterly earnings data on Friday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.14. The business had revenue of $83.34 million during the quarter, compared to the consensus estimate of $85.38 million. Fulgent Genetics had a negative return on equity of 3.24% and a negative net margin of 23.04%. On average, analysts predict that Fulgent Genetics, Inc. will post -2.81 EPS for the current year.
Institutional Investors Weigh In On Fulgent Genetics
A number of institutional investors have recently modified their holdings of FLGT. Amundi grew its stake in shares of Fulgent Genetics by 289.2% in the first quarter. Amundi now owns 34,316 shares of the company's stock worth $583,000 after acquiring an additional 25,500 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Fulgent Genetics by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company's stock worth $3,428,000 after acquiring an additional 45,279 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Fulgent Genetics by 14.1% in the second quarter. Legal & General Group Plc now owns 21,025 shares of the company's stock worth $418,000 after acquiring an additional 2,599 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Fulgent Genetics by 2.4% in the second quarter. Rhumbline Advisers now owns 33,139 shares of the company's stock worth $659,000 after acquiring an additional 785 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Fulgent Genetics by 8.0% in the second quarter. American Century Companies Inc. now owns 52,168 shares of the company's stock worth $1,037,000 after acquiring an additional 3,860 shares during the last quarter. 48.06% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have issued reports on FLGT shares. Piper Sandler reiterated a "neutral" rating and issued a $15.00 price objective (down from $30.00) on shares of Fulgent Genetics in a report on Tuesday, May 5th. Zacks Research downgraded Fulgent Genetics from a "strong-buy" rating to a "hold" rating in a report on Monday, February 9th. Finally, Wall Street Zen cut Fulgent Genetics from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $27.00.
View Our Latest Stock Report on FLGT
About Fulgent Genetics
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
