Fulgent Genetics (NASDAQ:FLGT) Trading Down 5.5%

Fulgent Genetics, Inc. (NASDAQ:FLGT) fell 5.5% during mid-day trading on Friday . The company traded as low as $76.24 and last traded at $76.24. 8,210 shares were traded during mid-day trading, a decline of 99% from the average session volume of 1,617,981 shares. The stock had previously closed at $80.68.

FLGT has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Tuesday, May 4th. Piper Sandler upped their price target on shares of Fulgent Genetics from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Fulgent Genetics has an average rating of “Hold” and an average price target of $97.80.

The company has a market capitalization of $2.20 billion, a P/E ratio of 5.16 and a beta of 1.48. The business’s 50-day moving average price is $79.39.

Fulgent Genetics (NASDAQ:FLGT) last released its quarterly earnings data on Thursday, May 6th. The company reported $6.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.95 by $0.64. The company had revenue of $359.43 million during the quarter, compared to analysts’ expectations of $326.46 million. Fulgent Genetics had a net margin of 53.91% and a return on equity of 101.08%. Fulgent Genetics’s revenue for the quarter was up 4536.0% on a year-over-year basis. Equities analysts forecast that Fulgent Genetics, Inc. will post 12.31 EPS for the current fiscal year.

In other news, CFO Paul Kim sold 10,358 shares of the company’s stock in a transaction that occurred on Tuesday, May 25th. The shares were sold at an average price of $72.94, for a total value of $755,512.52. Following the completion of the sale, the chief financial officer now owns 161,438 shares of the company’s stock, valued at approximately $11,775,287.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jian Xie sold 931 shares of the company’s stock in a transaction that occurred on Tuesday, May 18th. The stock was sold at an average price of $70.71, for a total transaction of $65,831.01. Following the completion of the sale, the chief operating officer now directly owns 341,041 shares of the company’s stock, valued at approximately $24,115,009.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,781 shares of company stock valued at $1,292,466. 31.00% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC lifted its position in shares of Fulgent Genetics by 87.3% in the 1st quarter. Advisory Services Network LLC now owns 37,250 shares of the company’s stock worth $3,599,000 after purchasing an additional 17,366 shares during the period. Principal Financial Group Inc. raised its stake in shares of Fulgent Genetics by 36.0% during the 1st quarter. Principal Financial Group Inc. now owns 128,816 shares of the company’s stock worth $12,446,000 after acquiring an additional 34,118 shares in the last quarter. Stonnington Group LLC bought a new position in shares of Fulgent Genetics during the 1st quarter worth approximately $812,000. Amundi Asset Management US Inc. raised its stake in shares of Fulgent Genetics by 33.2% during the 1st quarter. Amundi Asset Management US Inc. now owns 45,300 shares of the company’s stock worth $4,377,000 after acquiring an additional 11,300 shares in the last quarter. Finally, Caxton Associates LP raised its stake in shares of Fulgent Genetics by 18.7% during the 1st quarter. Caxton Associates LP now owns 4,843 shares of the company’s stock worth $468,000 after acquiring an additional 762 shares in the last quarter. 34.55% of the stock is owned by hedge funds and other institutional investors.

Fulgent Genetics Company Profile (NASDAQ:FLGT)

Fulgent Genetics, Inc, together with its subsidiaries, provides COVID-19 testing and genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, adaptive learning software, and genetic diagnostics tools and integrated laboratory processes.

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