Fulgent Genetics, Inc. $FLGT Stake Increased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lifted its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 32.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,405 shares of the company’s stock after buying an additional 27,395 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.39% of Fulgent Genetics worth $2,286,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its position in Fulgent Genetics by 2,984,354.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock worth $39,985,000 after acquiring an additional 1,522,021 shares during the period. Millennium Management LLC lifted its position in shares of Fulgent Genetics by 1.8% in the third quarter. Millennium Management LLC now owns 1,468,844 shares of the company’s stock worth $33,196,000 after purchasing an additional 26,582 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Fulgent Genetics by 1.1% in the third quarter. Vanguard Group Inc. now owns 1,179,254 shares of the company’s stock worth $26,651,000 after purchasing an additional 13,295 shares in the last quarter. RTW Investments LP acquired a new stake in shares of Fulgent Genetics during the fourth quarter worth approximately $18,521,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Fulgent Genetics by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 508,224 shares of the company’s stock worth $13,353,000 after purchasing an additional 6,553 shares during the period. 48.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fulgent Genetics news, COO Jian Xie sold 2,146 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $38,391.94. Following the completion of the sale, the chief operating officer directly owned 367,605 shares in the company, valued at $6,576,453.45. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hanlin Gao sold 1,688 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $30,198.32. Following the transaction, the insider owned 990,374 shares in the company, valued at approximately $17,717,790.86. This trade represents a 0.17% 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 5,980 shares of company stock valued at $106,360 over the last quarter. Corporate insiders own 36.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fulgent Genetics in a research note on Monday, July 6th. Wall Street Zen lowered shares of Fulgent Genetics from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, Piper Sandler boosted 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 analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Fulgent Genetics has a consensus rating of “Hold” and an average target price of $27.50.

Fulgent Genetics Price Performance

Shares of FLGT stock opened at $19.00 on Wednesday. Fulgent Genetics, Inc. has a fifty-two week low of $13.46 and a fifty-two week high of $31.04. The stock’s 50-day moving average is $19.40 and its two-hundred day moving average is $18.72. The firm has a market cap of $522.69 million, a P/E ratio of -6.74 and a beta of 0.90.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly 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). The firm had revenue of $85.39 million for the quarter, compared to analyst estimates of $94.00 million. Fulgent Genetics had a negative net margin of 26.05% and a negative return on equity of 4.93%. Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. As a group, research analysts expect that Fulgent Genetics, Inc. will post -2.81 EPS for the current year.

About Fulgent Genetics

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.