Hanlin Gao Sells 1,000 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) Stock

Posted by Defense World Staff on Jun 8th, 2023

Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) insider Hanlin Gao sold 1,000 shares of Fulgent Genetics stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $40.30, for a total transaction of $40,300.00. Following the transaction, the insider now directly owns 914,391 shares of the company’s stock, valued at $36,849,957.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Fulgent Genetics Stock Up 0.5 %

FLGT stock opened at $39.93 on Thursday. The business has a 50-day simple moving average of $33.82 and a 200 day simple moving average of $33.06. Fulgent Genetics, Inc. has a 52 week low of $28.27 and a 52 week high of $65.17.

Fulgent Genetics (NASDAQ:FLGT – Get Rating) last posted its quarterly earnings results on Friday, May 5th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.21. The business had revenue of $66.17 million during the quarter, compared to the consensus estimate of $61.95 million. Fulgent Genetics had a negative return on equity of 1.05% and a negative net margin of 7.10%. As a group, research analysts forecast that Fulgent Genetics, Inc. will post -2.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FLGT. StockNews.com began coverage on Fulgent Genetics in a report on Thursday, May 18th. They set a “hold” rating for the company. Piper Sandler lifted their target price on Fulgent Genetics from $35.00 to $37.00 in a report on Monday, May 8th. Finally, Credit Suisse Group dropped their target price on Fulgent Genetics from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, March 2nd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fulgent Genetics currently has an average rating of “Moderate Buy” and an average price target of $42.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Fulgent Genetics by 3.4% in the first quarter. BlackRock Inc. now owns 3,646,420 shares of the company’s stock valued at $113,841,000 after purchasing an additional 118,638 shares in the last quarter. Vanguard Group Inc. raised its stake in Fulgent Genetics by 2.4% during the third quarter. Vanguard Group Inc. now owns 1,365,736 shares of the company’s stock worth $52,062,000 after acquiring an additional 32,173 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Fulgent Genetics by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 853,549 shares of the company’s stock worth $26,645,000 after acquiring an additional 55,223 shares in the last quarter. State Street Corp raised its stake in Fulgent Genetics by 5.3% during the third quarter. State Street Corp now owns 756,357 shares of the company’s stock worth $28,832,000 after acquiring an additional 38,121 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Fulgent Genetics by 19.6% during the fourth quarter. Pacer Advisors Inc. now owns 582,853 shares of the company’s stock worth $17,357,000 after acquiring an additional 95,645 shares in the last quarter. Institutional investors and hedge funds own 43.22% of the company’s stock.

About Fulgent Genetics

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Fulgent Genetics, Inc is a technology company, which engages in the provision of gene testing and sequencing solutions. It offers genes and panels, known mutation, hereditary cancer, carrier screening, and tumor profiling solutions. The company was founded by Ming Hsieh on May 13, 2016 and is headquartered in El Monte, CA.