Key Points
- Insider sale: Fulgent Genetics insider Hanlin Gao sold 1,688 shares on June 2 at an average price of $17.89, totaling about $30,198. The sale reduced his holdings by 0.17% and was made to cover tax withholding obligations tied to vesting equity awards.
- Stock and valuation context: Fulgent Genetics shares were down 3.0% and opened at $18.14, with the stock trading below its 200-day moving average of $21.65. The company has a market cap of about $515 million and a 12-month range of $13.46 to $31.04.
- Analyst sentiment remains mixed: Recent analyst actions include Piper Sandler maintaining a neutral rating with a sharply reduced $15 price target, while the consensus from MarketBeat is still Hold with an average target of $27.00. Institutional investors continue to hold a significant stake, owning about 48.06% of the company.
Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) insider Hanlin Gao sold 1,688 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $30,198.32. Following the completion of the sale, the insider directly owned 990,374 shares of the company's stock, valued at approximately $17,717,790.86. This trade represents a 0.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Hanlin Gao also recently made the following trade(s):
- On Wednesday, May 27th, Hanlin Gao sold 945 shares of Fulgent Genetics stock. The stock was sold at an average price of $17.60, for a total value of $16,632.00.
Fulgent Genetics Stock Down 3.0%
Shares of Fulgent Genetics stock opened at $18.14 on Thursday. The stock has a market cap of $515.18 million, a PE ratio of -7.59 and a beta of 0.94. The business has a fifty day simple moving average of $16.26 and a 200-day simple moving average of $21.65. Fulgent Genetics, Inc. has a 12 month low of $13.46 and a 12 month high of $31.04.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Piper Sandler reissued a "neutral" rating and set a $15.00 price objective (down from $30.00) on shares of Fulgent Genetics in a research report on Tuesday, May 5th. Zacks Research cut Fulgent Genetics from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 9th. Finally, Wall Street Zen raised Fulgent Genetics from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 30th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $27.00.
Read Our Latest Stock Report on Fulgent Genetics
Institutional Trading of Fulgent Genetics
A number of institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in shares of Fulgent Genetics by 69.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company's stock worth $35,000 after purchasing an additional 548 shares during the period. Federated Hermes Inc. increased its stake in shares of Fulgent Genetics by 1.2% in the fourth quarter. Federated Hermes Inc. now owns 47,102 shares of the company's stock worth $1,237,000 after purchasing an additional 552 shares during the period. Rhumbline Advisers increased 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 purchasing an additional 785 shares during the period. Swiss National Bank increased its stake in shares of Fulgent Genetics by 3.2% in the fourth quarter. Swiss National Bank now owns 39,200 shares of the company's stock worth $1,030,000 after purchasing an additional 1,200 shares during the period. Finally, Peapod Lane Capital LLC increased its stake in shares of Fulgent Genetics by 0.7% in the fourth quarter. Peapod Lane Capital LLC now owns 165,781 shares of the company's stock worth $4,355,000 after purchasing an additional 1,202 shares during the period. Institutional investors and hedge funds own 48.06% of the company's stock.
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].
