Fulgent Genetic (NASDAQ:FLGT) CFO Sells $35,025.14 in Stock
Fulgent Genetic (NASDAQ:FLGT) CFO Paul Kim sold 6,134 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $5.71, for a total transaction of $35,025.14. Following the completion of the sale, the chief financial officer now directly owns 388,602 shares of the company’s stock, valued at approximately $2,218,917.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Fulgent Genetic (NASDAQ FLGT) traded up 2.78% during mid-day trading on Monday, hitting $5.92. 10,235 shares of the company were exchanged. The firm’s market capitalization is $104.74 million. The company’s 50-day moving average price is $6.34 and its 200-day moving average price is $8.77. Fulgent Genetic has a 12-month low of $4.49 and a 12-month high of $13.90.
Fulgent Genetic (NASDAQ:FLGT) last released its quarterly earnings data on Monday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.02. The business had revenue of $4.64 million during the quarter, compared to analysts’ expectations of $5.03 million. Fulgent Genetic had a negative net margin of 0.42% and a negative return on equity of 0.02%. Equities research analysts predict that Fulgent Genetic will post $0.14 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in Fulgent Genetic by 2,046.0% in the first quarter. Wells Fargo & Company MN now owns 10,730 shares of the company’s stock worth $118,000 after buying an additional 10,230 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Fulgent Genetic during the first quarter valued at about $122,000. Blair William & Co. IL acquired a new position in shares of Fulgent Genetic during the first quarter valued at about $287,000. Scholtz & Company LLC boosted its position in shares of Fulgent Genetic by 50.3% in the first quarter. Scholtz & Company LLC now owns 266,705 shares of the company’s stock valued at $2,912,000 after buying an additional 89,205 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of Fulgent Genetic by 10.4% in the second quarter. William Blair Investment Management LLC now owns 640,219 shares of the company’s stock valued at $4,091,000 after buying an additional 60,508 shares during the period. Institutional investors and hedge funds own 20.09% of the company’s stock.
A number of brokerages recently weighed in on FLGT. Zacks Investment Research raised shares of Fulgent Genetic from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Credit Suisse Group lowered their price target on shares of Fulgent Genetic from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, August 8th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Fulgent Genetic in a report on Wednesday, August 9th.
About Fulgent Genetic
Fulgent Genetics, Inc is a technology company. The Company offers genetic testing to provide physicians with clinically actionable diagnostic information to improve quality of patient care. The Company has developed a technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes.
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