Fulgent Genetics, Inc. (NASDAQ: FLGT) COO sells $23,557.15 in stock

Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) COO Jian Xie sold 685 shares of the company in a trade dated Wednesday, November 30. The stock was sold at an average price of $34.39, for a total value of $23,557.15. As a result of the transaction, the COO now directly owns 430,074 shares of the company, valued at approximately $14,790,244.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Fulgent Genetics Stock Performance

Shares of Fulgent Genetics rose $0.14 on Friday, hitting $36.21. 190,794 shares of the company were traded, against an average volume of 364,842. The company has a market capitalization of $1.07 billion, a P/E ratio of 4.15 and a beta of 1.50. Fulgent Genetics, Inc. has a 52 week low of $31.07 and a 52 week high of $109.55. The company’s 50-day moving average is $37.41 and its two-hundred-day moving average is $46.97.

Fulgent Genetics (NASDAQ:FLGT – Get Rating) last released its results on Monday November 7th. The company reported earnings per share of $0.11 for the quarter, beating analyst consensus estimates of $0.02 ($0.02) by $0.13. Fulgent Genetics had a return on equity of 22.10% and a net margin of 33.82%. The company posted revenue of $105.66 million for the quarter, versus analyst estimates of $103.70 million. On average, analysts expect Fulgent Genetics, Inc. to post EPS of 4.93 for the current fiscal year.

Hedge Funds Weigh in on Fulgent Genetics

A number of institutional investors have recently changed their FLGT portfolio. Park West Asset Management LLC increased its position in Fulgent Genetics by 152.0% in the 2nd quarter. Park West Asset Management LLC now owns 629,882 shares of the company valued at $34,347,000 after purchasing an additional 379,882 shares in the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Fulgent Genetics by 7,094.9% during the 1st quarter. Aaron Wealth Advisors LLC now owns 324,344 shares of the company valued at $5,197,000 after purchasing an additional 319,836 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Fulgent Genetics by 73.5% during the third quarter. Dimensional Fund Advisors LP now owns 680,822 shares of the company valued at $25,954,000 after purchasing an additional 288,308 shares in the last quarter. Point72 Asset Management LP increased its position in shares of Fulgent Genetics by 254.2% during the 2nd quarter. Point72 Asset Management LP now owns 227,237 shares of the company valued at $12,391,000 after purchasing an additional 163,083 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Fulgent Genetics by 4.5% during the third quarter. BlackRock Inc. now owns 3,484,339 shares of the company valued at $132,825,000 after purchasing an additional 149,014 shares in the last quarter. 43.22% of the shares are held by institutional investors and hedge funds.

Changes to analyst ratings

Several brokerages have recently commented on FLGT. StockNews.com began covering Fulgent Genetics in a report on Wednesday, October 12. They issued a “hold” rating on the stock. Credit Suisse Group reduced its price target on Fulgent Genetics from $65.00 to $50.00 and set an “outperform” rating on the stock in a Monday, November 14 report. Raymond James began covering Fulgent Genetics in a report on Friday, November 18. They issued an “outperform” rating and a target price of $45.00 on the stock. Finally, Piper Sandler cut her price target on Fulgent Genetics from $70.00 to $65.00 and set an “overweight” rating on the stock in a Monday, November 14 report. One investment analyst gave the stock a hold rating and four gave the company’s stock a buy rating. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.25.

Fulgent Genetics Company Profile

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Fulgent Genetics, Inc, together with its subsidiaries, provides COVID-19 molecular diagnostic and genetic testing services to physicians and patients in the United States and around the world. The company offers genetic testing including Focus and Comprehensive oncology panel testing; Beacon carrier screening panels test for inherited conditions; molecular profiling of solid tumors for somatic cancer screening; rapid whole genome tests for children in NICU and PICU; newborn genetic analysis panel; first-line single test to detect ataxia-related variants and repeat expansions by sequencing; image genetics, a patient-initiated genetic test; whole exome and clinical exome panel testing; whole genome, mutation and repeat expansion testing services, and research service testing.

Further reading

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