Hanlin Gao Sells 1,673 Shares of Fulgent Genetics (NASDAQ:FLGT) Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) insider Hanlin Gao sold 1,673 shares of Fulgent Genetics stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total transaction of $32,891.18. Following the sale, the insider directly owned 986,117 shares of the company’s stock, valued at $19,387,060.22. This represents a 0.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hanlin Gao also recently made the following trade(s):

• On Thursday, August 27th, Hanlin Gao sold 939 shares of Fulgent Genetics stock. The shares were sold at an average price of $19.91, for a total value of $18,695.49.

Fulgent Genetics Stock Performance

FLGT traded down $0.39 during trading on Thursday, hitting $19.65. 283,530 shares of the stock were exchanged, compared to its average volume of 233,486. The firm has a 50 day simple moving average of $19.71 and a 200 day simple moving average of $18.01. The firm has a market cap of $540.57 million, a price-to-earnings ratio of -6.97 and a beta of 0.93. Fulgent Genetics, Inc. has a 1 year low of $13.46 and a 1 year high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last issued its earnings results on Thursday, July 30th. The company reported ($0.58) earnings per share 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 firm had revenue of $85.39 million for 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, equities analysts anticipate that Fulgent Genetics, Inc. will post -3.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Fulgent Genetics

A number of institutional investors have recently added to or reduced their stakes in FLGT. Moore Capital Management LP grew its stake in Fulgent Genetics by 4.8% in the second quarter. Moore Capital Management LP now owns 48,343 shares of the company’s stock valued at $992,000 after purchasing an additional 2,219 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Fulgent Genetics during the second quarter valued at about $276,000. Public Employees Retirement System of Ohio bought a new stake in shares of Fulgent Genetics in the 2nd quarter valued at about $1,134,000. Almitas Capital LLC bought a new stake in shares of Fulgent Genetics in the 2nd quarter valued at about $2,150,000. Finally, Corient Private Wealth LP purchased a new position in shares of Fulgent Genetics in the 2nd quarter worth approximately $880,000. Institutional investors own 48.06% of the company’s stock.

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.