Fulgent Genetics (NASDAQ:FLGT) Trading 7.3% Higher – Time to Buy?

Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) traded up 7.3% on Wednesday . The stock traded as high as $27.99 and last traded at $27.8950. 186,325 shares changed hands during trading, a decline of 4% from the average session volume of 193,431 shares. The stock had previously closed at $25.99.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FLGT. Wall Street Zen lowered shares of Fulgent Genetics from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Raymond James Financial restated an “outperform” rating and set a $36.00 price target on shares of Fulgent Genetics in a research note on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Fulgent Genetics in a research report on Wednesday, October 8th. Finally, Piper Sandler boosted their price objective on Fulgent Genetics from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.00.

Fulgent Genetics Stock Down 0.1%

The stock has a fifty day moving average of $27.50 and a 200-day moving average of $23.35.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.36. The company had revenue of $84.07 million for the quarter, compared to the consensus estimate of $81.43 million. Fulgent Genetics had a negative return on equity of 2.55% and a negative net margin of 13.62%.Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. As a group, research analysts anticipate that Fulgent Genetics, Inc. will post -0.85 EPS for the current year.

Insiders Place Their Bets

In related news, insider Hanlin Gao sold 1,075 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $28.33, for a total value of $30,454.75. Following the transaction, the insider owned 952,890 shares of the company’s stock, valued at $26,995,373.70. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jian Xie sold 1,140 shares of Fulgent Genetics stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $28.33, for a total value of $32,296.20. Following the sale, the chief operating officer directly owned 336,749 shares of the company’s stock, valued at $9,540,099.17. This trade represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,572 shares of company stock worth $454,112 over the last 90 days. Company insiders own 31.76% of the company’s stock.

Institutional Trading of Fulgent Genetics

Large investors have recently made changes to their positions in the company. Amundi increased its position in Fulgent Genetics by 289.2% during the first quarter. Amundi now owns 34,316 shares of the company’s stock worth $583,000 after buying an additional 25,500 shares during the period. Millennium Management LLC increased its holdings in shares of Fulgent Genetics by 28.6% in the 1st quarter. Millennium Management LLC now owns 1,969,433 shares of the company’s stock valued at $33,283,000 after acquiring an additional 437,632 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Fulgent Genetics by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock valued at $3,428,000 after acquiring an additional 45,279 shares during the period. Acadian Asset Management LLC raised its position in Fulgent Genetics by 124.0% in the 1st quarter. Acadian Asset Management LLC now owns 805,941 shares of the company’s stock valued at $13,611,000 after purchasing an additional 446,076 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Fulgent Genetics by 60.4% during the 2nd quarter. Signaturefd LLC now owns 1,914 shares of the company’s stock worth $38,000 after purchasing an additional 721 shares during the period. 48.06% of the stock is owned by institutional investors and hedge funds.

About Fulgent Genetics

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.