Insider Selling: Fulgent Genetics (NASDAQ:FLGT) COO Sells $38,391.94 in Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 2,146 shares of the business’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 $38,391.94. Following the completion of the transaction, the chief operating officer directly owned 367,605 shares of the company’s stock, valued at approximately $6,576,453.45. This trade represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jian Xie also recently made the following trade(s):

• On Wednesday, May 27th, Jian Xie sold 1,201 shares of Fulgent Genetics stock. The stock was sold at an average price of $17.60, for a total value of $21,137.60.

Fulgent Genetics Stock Down 1.8%

NASDAQ FLGT opened at $19.15 on Friday. Fulgent Genetics, Inc. has a fifty-two week low of $13.46 and a fifty-two week high of $31.04. The stock has a market cap of $543.86 million, a price-to-earnings ratio of -8.01 and a beta of 0.94. The business has a fifty day moving average of $16.37 and a 200-day moving average of $21.57.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Piper Sandler reissued a “neutral” rating and issued a $15.00 price target (down from $30.00) on shares of Fulgent Genetics in a report on Tuesday, May 5th. Wall Street Zen raised Fulgent Genetics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Finally, Zacks Research cut Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.00.

Institutional Investors Weigh In On Fulgent Genetics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position 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 valued at $35,000 after purchasing an additional 548 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Fulgent Genetics in the fourth quarter valued at $35,000. Caitong International Asset Management Co. Ltd grew its position in shares of Fulgent Genetics by 214.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock valued at $48,000 after purchasing an additional 1,251 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Fulgent Genetics in the second quarter valued at $49,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Fulgent Genetics in the fourth quarter valued at $56,000. Hedge funds and other institutional investors 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.