Fulgent Genetics, Inc. (NASDAQ:FLGT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 221,516 shares of the company’s stock after selling 4,843 shares during the quarter. Bank of New York Mellon Corp owned about 0.75% of Fulgent Genetics worth $8,203,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in Fulgent Genetics by 416.8% in the first quarter. Geneos Wealth Management Inc. now owns 491 shares of the company’s stock valued at $30,000 after buying an additional 396 shares during the last quarter. Covington Capital Management lifted its position in shares of Fulgent Genetics by 133.3% during the third quarter. Covington Capital Management now owns 700 shares of the company’s stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Signaturefd LLC lifted its position in shares of Fulgent Genetics by 98.7% during the first quarter. Signaturefd LLC now owns 1,258 shares of the company’s stock worth $39,000 after purchasing an additional 625 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Fulgent Genetics during the fourth quarter worth about $46,000. Finally, FMR LLC lifted its position in shares of Fulgent Genetics by 79.4% during the first quarter. FMR LLC now owns 1,864 shares of the company’s stock worth $58,000 after purchasing an additional 825 shares in the last quarter. Institutional investors and hedge funds own 46.09% of the company’s stock.

Fulgent Genetics Stock Down 2.2 %

Shares of Fulgent Genetics stock opened at $27.06 on Friday. The firm has a market capitalization of $801.87 million, a P/E ratio of -12.64 and a beta of 1.57. Fulgent Genetics, Inc. has a 52 week low of $23.09 and a 52 week high of $44.09. The firm’s 50 day moving average is $26.55 and its two-hundred day moving average is $33.03.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings results on Friday, November 3rd. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.07). The company had revenue of $84.70 million during the quarter, compared to analysts’ expectations of $64.42 million. Fulgent Genetics had a negative net margin of 22.17% and a negative return on equity of 4.59%. The business’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. As a group, research analysts expect that Fulgent Genetics, Inc. will post -2.09 earnings per share for the current fiscal year.

Insider Transactions at Fulgent Genetics

In other news, COO Jian Xie sold 1,492 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $31.41, for a total transaction of $46,863.72. Following the transaction, the chief operating officer now directly owns 416,022 shares in the company, valued at $13,067,251.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Jian Xie sold 1,492 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $31.41, for a total transaction of $46,863.72. Following the completion of the sale, the chief operating officer now directly owns 416,022 shares of the company’s stock, valued at $13,067,251.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Paul Kim sold 10,299 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $33.62, for a total value of $346,252.38. Following the sale, the chief financial officer now directly owns 215,553 shares of the company’s stock, valued at $7,246,891.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,832 shares of company stock worth $425,814. Insiders own 31.76% of the company’s stock.

Analyst Ratings Changes

FLGT has been the topic of a number of recent research reports. Piper Sandler cut their target price on shares of Fulgent Genetics from $37.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, October 16th. StockNews.com initiated coverage on shares of Fulgent Genetics in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, TheStreet lowered shares of Fulgent Genetics from a “c-” rating to a “d+” rating in a research note on Friday, November 3rd.

About Fulgent Genetics

Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company's clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and next generation sequencer services related to hereditary cancer, cardiovascular genetics, reproductive health, and neurodegenerative genetics, as well as pharmacogenetic tests.