Fulgent Genetics (NASDAQ:FLGT) Shares Down 5.2%

Fulgent Genetics, Inc. (NASDAQ:FLGT)’s stock price fell 5.2% on Thursday . The company traded as low as $78.41 and last traded at $78.89. 11,711 shares were traded during trading, a decline of 99% from the average session volume of 1,188,690 shares. The stock had previously closed at $83.18.

A number of research firms recently weighed in on FLGT. Zacks Investment Research raised shares of Fulgent Genetics from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Tuesday. Credit Suisse Group increased their price objective on shares of Fulgent Genetics from $55.00 to $65.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $107.25.

The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 4.82 and a beta of 1.48. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $90.53 and its 200-day simple moving average is $85.47.

Fulgent Genetics (NASDAQ:FLGT) last released its earnings results on Monday, August 9th. The company reported $2.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.54 by ($0.07). The business had revenue of $153.60 million for the quarter, compared to analyst estimates of $197.34 million. Fulgent Genetics had a return on equity of 78.71% and a net margin of 54.24%. Fulgent Genetics’s quarterly revenue was up 789.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share.

In other news, insider Hanlin Gao sold 314 shares of the firm’s stock in a transaction on Monday, August 16th. The shares were sold at an average price of $95.12, for a total value of $29,867.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Paul Kim sold 1,682 shares of the firm’s stock in a transaction on Monday, August 16th. The shares were sold at an average price of $95.12, for a total transaction of $159,991.84. The disclosure for this sale can be found here. Insiders sold a total of 5,384 shares of company stock worth $505,630 over the last 90 days. Company insiders own 31.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its stake in Fulgent Genetics by 66.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,417 shares of the company’s stock worth $1,145,000 after acquiring an additional 4,945 shares in the last quarter. Principal Financial Group Inc. raised its stake in Fulgent Genetics by 36.0% during the 1st quarter. Principal Financial Group Inc. now owns 128,816 shares of the company’s stock worth $12,446,000 after acquiring an additional 34,118 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Fulgent Genetics by 15.0% during the 1st quarter. Nuveen Asset Management LLC now owns 57,555 shares of the company’s stock worth $5,561,000 after acquiring an additional 7,501 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Fulgent Genetics by 24.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 15,015 shares of the company’s stock worth $1,450,000 after acquiring an additional 2,993 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Fulgent Genetics by 97.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 332,257 shares of the company’s stock worth $30,645,000 after acquiring an additional 163,907 shares in the last quarter. Hedge funds and other institutional investors own 36.07% of the company’s stock.

Fulgent Genetics Company Profile (NASDAQ:FLGT)

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 on May 13, 2016 and is headquartered in Temple City, CA.

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