Fulgent Genetics, Inc. (NASDAQ:FLGT) Given Average Recommendation of “Hold” by Brokerages

Fulgent Genetics, Inc. (NASDAQ:FLGT) has been given a consensus recommendation of “Hold” by the five brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $27.00.

A number of analysts recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $15.00 price objective (down from $30.00) on shares of Fulgent Genetics in a research note on Tuesday, May 5th. Wall Street Zen raised shares of Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th.

Insider Buying and Selling

In related news, COO Jian Xie sold 2,146 shares of the business’s 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 transaction, the chief operating officer owned 367,605 shares of the company’s stock, valued at $6,576,453.45. The trade was a 0.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $30,198.32. Following the sale, the insider owned 990,374 shares of the company’s stock, valued at approximately $17,717,790.86. This 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. Over the last quarter, insiders have sold 5,980 shares of company stock worth $106,360. Insiders own 36.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its position in Fulgent Genetics by 69.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock valued at $35,000 after purchasing an additional 548 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Fulgent Genetics in the fourth quarter valued at about $35,000. Caitong International Asset Management Co. Ltd raised its holdings in Fulgent Genetics by 214.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock worth $48,000 after purchasing an additional 1,251 shares in the last quarter. Raymond James Financial Inc. bought a new position in Fulgent Genetics in the second quarter worth about $49,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Fulgent Genetics during the fourth quarter valued at about $56,000. 48.06% of the stock is owned by institutional investors.

Fulgent Genetics Trading Down 0.8%

Shares of FLGT stock opened at $18.78 on Friday. Fulgent Genetics has a twelve month low of $13.46 and a twelve month high of $31.04. The stock has a fifty day simple moving average of $16.59 and a two-hundred day simple moving average of $21.22. The stock has a market capitalization of $533.35 million, a price-to-earnings ratio of -7.86 and a beta of 0.94.

Fulgent Genetics Company Profile

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.