Fulgent Genetic (FLGT) Issues Quarterly Earnings Results
Fulgent Genetic (NASDAQ:FLGT) released its quarterly earnings results on Monday. The company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.04), Bloomberg Earnings reports. Fulgent Genetic had a negative return on equity of 0.02% and a negative net margin of 0.42%.
Shares of Fulgent Genetic (NASDAQ:FLGT) traded up $0.49 during mid-day trading on Monday, hitting $3.96. 44,669 shares of the stock traded hands, compared to its average volume of 43,213. Fulgent Genetic has a 12-month low of $3.40 and a 12-month high of $13.90.
In other news, CFO Paul Kim sold 6,134 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 388,602 shares in the company, valued at approximately $2,218,917.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 58.80% of the stock is owned by company insiders.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Fulgent Genetic from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $7.00 price target (down from $10.00) on shares of Fulgent Genetic in a research report on Wednesday, August 9th. ValuEngine upgraded shares of Fulgent Genetic from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Credit Suisse Group decreased their price target on shares of Fulgent Genetic from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 8th.
Fulgent Genetic Company Profile
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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