Fulgent Genetics (NASDAQ:FLGT) Stock Falls 6.5% – Here’s Why

Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) were down 6.5% during trading on Tuesday. The stock traded as low as $21.07 and last traded at $20.9850. 98,569 shares traded hands during trading, a decline of 76% from the average daily volume of 416,944 shares. The stock had previously closed at $22.45.

Analyst Upgrades and Downgrades

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

Fulgent Genetics Stock Performance

The firm’s 50-day simple moving average is $20.11 and its 200 day simple moving average is $18.55. The company has a market cap of $565.88 million, a P/E ratio of -7.29 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 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 company 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 forecast that Fulgent Genetics, Inc. will post -3.48 earnings per share for the current year.

Insider Buying and Selling at Fulgent Genetics

In related news, insider Hanlin Gao sold 1,673 shares of the company’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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,127 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $19.66, for a total value of $41,816.82. Following the transaction, the chief operating officer owned 359,924 shares of the company’s stock, valued at approximately $7,076,105.84. This trade represents a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 5,932 shares of company stock valued at $117,156 in the last three months. 36.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP acquired a new stake in Fulgent Genetics in the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Fulgent Genetics by 214.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock worth $48,000 after acquiring an additional 1,251 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Fulgent Genetics in the second quarter valued at approximately $38,000. Empowered Funds LLC bought a new stake in shares of Fulgent Genetics in the second quarter worth $276,000. Finally, Persistent Asset Partners Ltd acquired a new position in Fulgent Genetics during the second quarter worth $488,000. 48.06% of the stock is owned by institutional investors and hedge funds.

About Fulgent Genetics

Fulgent Genetics, Inc is a technology-driven clinical diagnostics company that provides genetic testing and laboratory services. The company uses next-generation sequencing and other molecular testing technologies to support the diagnosis, risk assessment and management of inherited diseases, cancer and other medical conditions.

Its offerings include hereditary disease testing, oncology testing, reproductive health testing and specialized genetic panels. Fulgent also provides laboratory-developed tests, pharmacogenetic testing and testing solutions for healthcare providers, hospitals, health systems, employers, pharmaceutical companies and public health organizations.