Fulgent Genetics, Inc. (NASDAQ:FLGT) CEO Ming Hsieh Sells 2,227 Shares of Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) CEO Ming Hsieh sold 2,227 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.26, for a total value of $40,665.02. Following the completion of the sale, the chief executive officer now directly owns 703,711 shares in the company, valued at $12,849,762.86. This represents a 0.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT opened at $18.07 on Thursday. Fulgent Genetics, Inc. has a 1 year low of $16.56 and a 1 year high of $30.68. The company has a market capitalization of $552.76 million, a price-to-earnings ratio of -3.27 and a beta of 1.51. The business has a 50-day moving average of $19.96 and a two-hundred day moving average of $21.16.

Institutional Investors Weigh In On Fulgent Genetics

Several institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. acquired a new stake in Fulgent Genetics during the third quarter worth approximately $215,000. Geode Capital Management LLC grew its position in shares of Fulgent Genetics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 502,869 shares of the company’s stock valued at $10,930,000 after buying an additional 13,320 shares during the last quarter. Barclays PLC grew its position in shares of Fulgent Genetics by 22.6% in the 3rd quarter. Barclays PLC now owns 174,855 shares of the company’s stock valued at $3,800,000 after buying an additional 32,250 shares during the last quarter. State Street Corp raised its stake in Fulgent Genetics by 1.4% during the 3rd quarter. State Street Corp now owns 793,545 shares of the company’s stock worth $17,244,000 after acquiring an additional 10,868 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Fulgent Genetics in the third quarter valued at $46,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Wall Street Analyst Weigh In

FLGT has been the topic of several analyst reports. StockNews.com cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Wednesday. Piper Sandler dropped their price objective on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th.

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 sequencer services related to hereditary cancer, reproductive health, and other diseases.