Fulgent Genetics, Inc. (NASDAQ:FLGT) Receives Average Recommendation of “Hold” from Analysts

Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) have earned a consensus recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $27.00.

FLGT has been the subject of a number of recent research reports. Piper Sandler reiterated a “neutral” rating and issued a $15.00 target price (down from $30.00) on shares of Fulgent Genetics in a research report on Tuesday, May 5th. Wall Street Zen raised shares of Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th.

Fulgent Genetics Trading Down 1.3%

FLGT traded down $0.28 during midday trading on Tuesday, hitting $21.11. 76,167 shares of the company traded hands, compared to its average volume of 477,702. The business has a 50 day simple moving average of $17.71 and a two-hundred day simple moving average of $20.12. Fulgent Genetics has a 52-week low of $13.46 and a 52-week high of $31.04. The company has a market capitalization of $599.52 million, a price-to-earnings ratio of -8.85 and a beta of 0.89.

Insider Activity at Fulgent Genetics

In related news, insider Hanlin Gao sold 1,688 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $30,198.32. Following the completion of the sale, the insider owned 990,374 shares of the company’s stock, valued at approximately $17,717,790.86. This trade represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of Fulgent Genetics stock in a transaction that occurred 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 transaction, the chief operating officer owned 367,605 shares in the company, valued at approximately $6,576,453.45. The trade was a 0.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 5,980 shares of company stock worth $106,360. Insiders own 36.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its holdings in shares of Fulgent Genetics by 69.3% in the fourth 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 period. Kestra Advisory Services LLC purchased a new position in Fulgent Genetics during the fourth quarter worth about $35,000. Caitong International Asset Management Co. Ltd increased its position in shares of 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 valued at $48,000 after acquiring an additional 1,251 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Fulgent Genetics in the 4th quarter worth approximately $56,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Fulgent Genetics during the 2nd quarter worth approximately $49,000. Hedge funds and other 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.