Fulgent Genetics, Inc. (NASDAQ:FLGT) COO Jian Xie Sells 1,269 Shares

Fulgent Genetics, Inc. (NASDAQ:FLGTGet Rating) COO Jian Xie sold 1,269 shares of Fulgent Genetics stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $53.38, for a total value of $67,739.22. Following the completion of the transaction, the chief operating officer now directly owns 329,701 shares in the company, valued at $17,599,439.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of Fulgent Genetics stock opened at $55.49 on Thursday. The stock’s fifty day moving average is $57.97 and its 200-day moving average is $71.54. The firm has a market capitalization of $1.68 billion, a PE ratio of 3.75 and a beta of 1.55. Fulgent Genetics, Inc. has a 12-month low of $47.65 and a 12-month high of $112.00.

Fulgent Genetics (NASDAQ:FLGTGet Rating) last announced its earnings results on Tuesday, May 3rd. The company reported $5.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.86 by $1.22. The company had revenue of $320.30 million for the quarter, compared to analyst estimates of $300.50 million. Fulgent Genetics had a return on equity of 41.13% and a net margin of 48.32%. Fulgent Genetics’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.51 earnings per share. As a group, equities analysts anticipate that Fulgent Genetics, Inc. will post 5.95 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. boosted its stake in shares of Fulgent Genetics by 416.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 491 shares of the company’s stock worth $30,000 after acquiring an additional 396 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Fulgent Genetics by 247.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 117,537 shares of the company’s stock valued at $7,336,000 after acquiring an additional 83,678 shares in the last quarter. State Street Corp raised its holdings in Fulgent Genetics by 11.3% in the 1st quarter. State Street Corp now owns 696,083 shares of the company’s stock valued at $43,443,000 after acquiring an additional 70,764 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Fulgent Genetics in the 1st quarter worth approximately $1,264,000. Finally, Vident Investment Advisory LLC raised its holdings in shares of Fulgent Genetics by 62.1% in the 1st quarter. Vident Investment Advisory LLC now owns 38,040 shares of the company’s stock worth $2,372,000 after buying an additional 14,577 shares in the last quarter. 37.61% of the stock is currently owned by hedge funds and other institutional investors.

FLGT has been the topic of several analyst reports. Oppenheimer dropped their price objective on Fulgent Genetics from $141.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, January 25th. Piper Sandler lowered their price target on Fulgent Genetics from $85.00 to $70.00 in a report on Sunday. StockNews.com initiated coverage on Fulgent Genetics in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research lowered Fulgent Genetics from a “buy” rating to a “hold” rating in a research report on Monday, May 9th.

About Fulgent Genetics (Get Rating)

Fulgent Genetics, Inc, together with its subsidiaries, provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients in the United States and internationally. The company offers genetic tests comprising Focus and Comprehensive oncology panels tests; Beacon carrier screening panels test for inherited conditions; solid tumor molecular profiling for somatic cancer testing; rapid whole genome testing for children in NICU and PICU; newborn genetic analysis panel; single front-line test to detect ataxia-related variants and repeat expansions through sequencing; picture genetics, a patient-initiated genetic testing; whole exome and clinical exome panel tests; whole genome, mutation, and repeat expansion testing services, as well as research service tests.

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