Fulgent Genetics (NASDAQ:FLGT) Stock Breaks Below 50 Day Moving Average – Here’s Why

Fulgent Genetics, Inc. (NASDAQ:FLGT) shares crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $20.58 and traded as low as $19.30. Fulgent Genetics shares last traded at $19.99, with a volume of 278,878 shares.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Weiss Ratings raised Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. Piper Sandler upped their target price on Fulgent Genetics from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen raised Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.50.

Fulgent Genetics Price Performance

The firm’s 50 day simple moving average is $20.58 and its two-hundred day simple moving average is $18.90. The firm has a market capitalization of $549.92 million, a P/E ratio of -7.09 and a beta of 0.93.

Fulgent Genetics (NASDAQ:FLGT) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.12). Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%. The company had revenue of $85.39 million during the quarter, compared to analysts’ expectations of $94.00 million. Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. As a group, equities research analysts forecast that Fulgent Genetics, Inc. will post -3.48 EPS for the current year.

Insider Activity at Fulgent Genetics

In other Fulgent Genetics news, COO Jian Xie sold 2,127 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $19.66, for a total value of $41,816.82. Following the completion of the sale, the chief operating officer owned 359,924 shares in the company, valued at approximately $7,076,105.84. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hanlin Gao sold 1,673 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total value of $32,891.18. Following the sale, the insider directly owned 986,117 shares of the company’s stock, valued at approximately $19,387,060.22. This trade represents a 0.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 5,932 shares of company stock worth $117,156. 36.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fulgent Genetics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLGT. Allworth Financial LP grew its holdings in Fulgent Genetics by 559.9% in the 2nd quarter. Allworth Financial LP now owns 1,201 shares of the company’s stock worth $25,000 after acquiring an additional 1,019 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Fulgent Genetics by 214.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock valued at $48,000 after acquiring an additional 1,251 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Fulgent Genetics during the second quarter valued at about $38,000. Moore Capital Management LP raised its stake in shares of Fulgent Genetics by 4.8% during the second quarter. Moore Capital Management LP now owns 48,343 shares of the company’s stock valued at $992,000 after acquiring an additional 2,219 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Fulgent Genetics by 17.1% during the first quarter. Amundi now owns 41,596 shares of the company’s stock worth $661,000 after purchasing an additional 6,072 shares during the period. 48.06% of the stock is currently owned by institutional investors.

About Fulgent Genetics

Fulgent Genetics, Inc is a technology-driven clinical diagnostics company that develops and performs genetic testing. Its testing platform uses next-generation sequencing and other molecular technologies to analyze DNA and support the diagnosis, screening and management of inherited and acquired diseases.

The company offers a range of tests, including panels for hereditary cancer, reproductive health and inherited disorders, as well as tumor profiling and other specialized clinical testing services.