Fulgent Genetics (NASDAQ:FLGT) COO Jian Xie Sells 2,146 Shares of Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 2,146 shares of the company’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 sale, the chief operating officer directly owned 367,605 shares in the company, valued at $6,576,453.45. This represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 Performance

FLGT stock opened at $18.14 on Thursday. The company’s 50 day moving average price is $16.26 and its 200 day moving average price is $21.65. Fulgent Genetics, Inc. has a fifty-two week low of $13.46 and a fifty-two week high of $31.04. The firm has a market capitalization of $515.18 million, a price-to-earnings ratio of -7.59 and a beta of 0.94.

Hedge Funds Weigh In On Fulgent Genetics

Several large investors have recently bought and sold shares of FLGT. Amundi increased its holdings in Fulgent Genetics by 289.2% in the first quarter. Amundi now owns 34,316 shares of the company’s stock valued at $583,000 after buying an additional 25,500 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Fulgent Genetics by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock valued at $3,428,000 after buying an additional 45,279 shares during the last quarter. Legal & General Group Plc lifted its stake in Fulgent Genetics by 14.1% in the second quarter. Legal & General Group Plc now owns 21,025 shares of the company’s stock valued at $418,000 after buying an additional 2,599 shares during the last quarter. Rhumbline Advisers lifted its stake in Fulgent Genetics by 2.4% in the second quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock valued at $659,000 after buying an additional 785 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Fulgent Genetics by 8.0% in the second quarter. American Century Companies Inc. now owns 52,168 shares of the company’s stock valued at $1,037,000 after buying an additional 3,860 shares during the last quarter. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FLGT. Piper Sandler reaffirmed 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. Zacks Research lowered Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Finally, Wall Street Zen raised 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.00.

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.