Insider Selling: Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Sells 1,617 Shares of Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie sold 1,617 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $27.25, for a total transaction of $44,063.25. Following the transaction, the chief operating officer now directly owns 386,903 shares in the company, valued at approximately $10,543,106.75. The transaction was disclosed in a filing with the SEC, which is available through this link.

Jian Xie also recently made the following trade(s):

• On Thursday, September 7th, Jian Xie sold 1,492 shares of Fulgent Genetics stock. The shares were sold at an average price of $31.41, for a total transaction of $46,863.72.

Fulgent Genetics Stock Performance

Shares of Fulgent Genetics stock traded up $0.56 during mid-day trading on Monday, hitting $27.62. 206,269 shares of the stock were exchanged, compared to its average volume of 223,479. Fulgent Genetics, Inc. has a 12 month low of $23.09 and a 12 month high of $44.09. The company has a 50-day simple moving average of $26.55 and a 200 day simple moving average of $33.06. The company has a market capitalization of $818.46 million, a P/E ratio of -12.98 and a beta of 1.57.

Fulgent Genetics (NASDAQ:FLGT) last posted its earnings results on Friday, November 3rd. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.07). Fulgent Genetics had a negative return on equity of 4.59% and a negative net margin of 22.17%. The firm had revenue of $84.70 million for the quarter, compared to the consensus estimate of $64.42 million. During the same period in the prior year, the business earned $0.11 EPS. Fulgent Genetics’s quarterly revenue was down 19.9% compared to the same quarter last year. Analysts predict that Fulgent Genetics, Inc. will post -2.09 EPS for the current year.

Hedge Funds Weigh In On Fulgent Genetics

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Fulgent Genetics by 318.5% during the 1st quarter. JPMorgan Chase & Co. now owns 78,457 shares of the company’s stock worth $4,896,000 after purchasing an additional 59,711 shares during the last quarter. Raymond James & Associates increased its stake in shares of Fulgent Genetics by 42.9% during the 1st quarter. Raymond James & Associates now owns 14,944 shares of the company’s stock worth $933,000 after purchasing an additional 4,486 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Fulgent Genetics by 25.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 24,905 shares of the company’s stock worth $1,554,000 after purchasing an additional 5,106 shares during the last quarter. Citigroup Inc. increased its stake in shares of Fulgent Genetics by 3.6% during the 1st quarter. Citigroup Inc. now owns 20,152 shares of the company’s stock worth $1,258,000 after purchasing an additional 702 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Fulgent Genetics by 7.6% during the 1st quarter. Bank of Montreal Can now owns 6,551 shares of the company’s stock worth $410,000 after purchasing an additional 461 shares during the last quarter. Institutional investors own 46.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on FLGT. TheStreet cut shares of Fulgent Genetics from a “c-” rating to a “d+” rating in a research report on Friday, November 3rd. StockNews.com began coverage on shares of Fulgent Genetics in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Piper Sandler dropped their price target on shares of Fulgent Genetics from $37.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, October 16th.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company's clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and next generation sequencer services related to hereditary cancer, cardiovascular genetics, reproductive health, and neurodegenerative genetics, as well as pharmacogenetic tests.