Insider Selling: Fulgent Genetics (NASDAQ:FLGT) Insider Sells $32,891.18 in Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) insider Hanlin Gao sold 1,673 shares of the firm’s stock in a transaction 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 represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hanlin Gao also recently made the following trade(s):

• On Thursday, August 27th, Hanlin Gao sold 939 shares of Fulgent Genetics stock. The stock was sold at an average price of $19.91, for a total transaction of $18,695.49.

Fulgent Genetics Stock Up 0.4%

Shares of FLGT stock opened at $19.73 on Friday. The company has a 50 day moving average of $19.70 and a 200-day moving average of $18.03. Fulgent Genetics, Inc. has a 12-month low of $13.46 and a 12-month high of $31.04. The firm has a market cap of $542.77 million, a P/E ratio of -7.00 and a beta of 0.93.

Fulgent Genetics (NASDAQ:FLGT) last issued its earnings results on Thursday, July 30th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm 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, equities analysts expect that Fulgent Genetics, Inc. will post -3.48 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on FLGT. Weiss Ratings upgraded Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. Wall Street Zen raised Fulgent Genetics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 29th. Finally, Piper Sandler increased their price target on shares of Fulgent Genetics from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.50.

Hedge Funds Weigh In On Fulgent Genetics

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Fulgent Genetics in the second quarter valued at $46,922,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Fulgent Genetics by 2,984,354.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock worth $39,985,000 after purchasing an additional 1,522,021 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Fulgent Genetics by 1.8% during the 3rd quarter. Millennium Management LLC now owns 1,468,844 shares of the company’s stock valued at $33,196,000 after buying an additional 26,582 shares in the last quarter. Vanguard Group Inc. lifted its position in Fulgent Genetics by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,179,254 shares of the company’s stock worth $26,651,000 after buying an additional 13,295 shares during the last quarter. Finally, RTW Investments LP bought a new position in Fulgent Genetics during the fourth quarter valued at approximately $18,521,000. Institutional investors own 48.06% of the company’s stock.

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.