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

Fulgent Genetics, Inc. (NASDAQ:FLGT) has received a consensus rating of “Hold” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $27.00.

A number of brokerages have recently commented on FLGT. Piper Sandler reissued a “neutral” rating and set a $15.00 price objective (down from $30.00) on shares of Fulgent Genetics in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fulgent Genetics in a report on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT opened at $20.42 on Tuesday. The stock’s 50-day moving average is $18.24 and its two-hundred day moving average is $19.88. Fulgent Genetics has a 1-year low of $13.46 and a 1-year high of $31.04. The company has a market cap of $579.95 million, a price-to-earnings ratio of -8.54 and a beta of 0.89.

Insiders Place Their Bets

In other news, insider Hanlin Gao sold 1,688 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $30,198.32. Following the sale, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of Fulgent Genetics stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $38,391.94. Following the sale, the chief operating officer directly owned 367,605 shares of the company’s stock, valued at approximately $6,576,453.45. This trade represents a 0.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 5,980 shares of company stock worth $106,360 over the last 90 days. Company insiders own 36.18% of the company’s stock.

Institutional Trading of Fulgent Genetics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its position in shares of Fulgent Genetics by 69.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock worth $35,000 after acquiring an additional 548 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Fulgent Genetics in the 4th quarter valued at about $35,000. Caitong International Asset Management Co. Ltd raised its position in shares of Fulgent Genetics by 214.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock worth $48,000 after acquiring an additional 1,251 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Fulgent Genetics during the 2nd quarter worth about $49,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in Fulgent Genetics during the fourth quarter worth approximately $56,000. 48.06% of the stock is currently owned by institutional investors and hedge funds.

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.