Fulgent Genetics (NASDAQ:FLGT) Insider Hanlin Gao Sells 1,688 Shares of Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) insider Hanlin Gao sold 1,688 shares of Fulgent Genetics 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 transaction, the insider owned 990,374 shares in the company, valued at $17,717,790.86. The trade was a 0.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 NASDAQ FLGT opened at $18.14 on Thursday. The stock has a market capitalization of $515.18 million, a price-to-earnings ratio of -7.59 and a beta of 0.94. The stock’s fifty day simple moving average is $16.26 and its 200 day simple moving average is $21.65. Fulgent Genetics, Inc. has a 52-week low of $13.46 and a 52-week high of $31.04.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FLGT shares. Zacks Research cut Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Piper Sandler restated a “neutral” rating and issued a $15.00 target price (down from $30.00) on shares of Fulgent Genetics in a report on Tuesday, May 5th. Finally, Wall Street Zen upgraded Fulgent Genetics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Fulgent Genetics currently has a consensus rating of “Hold” and a consensus target price of $27.00.

Institutional Trading of Fulgent Genetics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Amundi boosted its position in shares of Fulgent Genetics by 17.1% in the first quarter. Amundi now owns 41,596 shares of the company’s stock worth $661,000 after buying an additional 6,072 shares during the period. Quantinno Capital Management LP boosted its position in shares of Fulgent Genetics by 374.7% in the first quarter. Quantinno Capital Management LP now owns 137,479 shares of the company’s stock worth $2,186,000 after buying an additional 108,519 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Fulgent Genetics by 3,217.5% in the first quarter. Public Employees Retirement System of Ohio now owns 33,739 shares of the company’s stock worth $536,000 after buying an additional 32,722 shares during the period. Levin Capital Strategies L.P. acquired a new stake in shares of Fulgent Genetics in the first quarter worth $687,000. Finally, Hsbc Holdings PLC boosted its position in shares of Fulgent Genetics by 25.2% in the first quarter. Hsbc Holdings PLC now owns 65,174 shares of the company’s stock worth $1,031,000 after buying an additional 13,118 shares during the period. Institutional investors and hedge funds own 48.06% of the company’s stock.

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.