Jian Xie Sells 1,193 Shares of Fulgent Genetics (NASDAQ:FLGT) Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 1,193 shares of Fulgent Genetics stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $19.91, for a total transaction of $23,752.63. Following the completion of the sale, the chief operating officer owned 362,051 shares in the company, valued at $7,208,435.41. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 Tuesday, June 2nd, Jian Xie sold 2,146 shares of Fulgent Genetics stock. The stock was sold at an average price of $17.89, for a total transaction of $38,391.94.

Fulgent Genetics Trading Down 1.7%

Shares of FLGT opened at $19.61 on Friday. Fulgent Genetics, Inc. has a 12 month low of $13.46 and a 12 month high of $31.04. The firm has a fifty day simple moving average of $19.63 and a 200 day simple moving average of $18.15. The stock has a market capitalization of $539.47 million, a price-to-earnings ratio of -6.95 and a beta of 0.90.

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

Institutional Trading of Fulgent Genetics

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP acquired a new position in shares of Fulgent Genetics during the 2nd quarter worth approximately $25,000. Farther Finance Advisors LLC lifted its holdings in Fulgent Genetics by 69.3% during the 4th 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 last quarter. Kestra Advisory Services LLC acquired a new stake in Fulgent Genetics during the 4th quarter valued at $35,000. Legal & General Group Plc bought a new position in Fulgent Genetics during the second quarter worth $38,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in 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 worth $48,000 after purchasing an additional 1,251 shares during the period. 48.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings upgraded Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Piper Sandler raised their price target on Fulgent Genetics from $15.00 to $19.00 and gave the company 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 report on Saturday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.50.

Fulgent Genetics Company Profile

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.