Fulgent Genetics (NASDAQ:FLGT) Sets New 1-Year Low – Here’s Why

Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) reached a new 52-week low on Thursday . The stock traded as low as $16.36 and last traded at $16.48, with a volume of 59157 shares. The stock had previously closed at $16.96.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. StockNews.com downgraded Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Piper Sandler lowered their target price on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, November 11th.

Fulgent Genetics Stock Down 1.7 %

The firm has a market capitalization of $510.09 million, a P/E ratio of -3.02 and a beta of 1.40. The stock has a fifty day moving average of $18.48 and a 200-day moving average of $20.61.

Insider Buying and Selling

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $18.26, for a total transaction of $40,665.02. Following the sale, the chief executive officer now directly owns 703,711 shares of the company’s stock, valued at approximately $12,849,762.86. This represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 3,413 shares of company stock worth $62,321. Corporate insiders own 31.76% of the company’s stock.

Institutional Investors Weigh In On Fulgent Genetics

A number of institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Fulgent Genetics by 113.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock valued at $7,346,000 after purchasing an additional 179,477 shares during the last quarter. Caxton Associates LP bought a new position in shares of Fulgent Genetics in the second quarter valued at about $492,000. BNP Paribas Financial Markets lifted its stake in shares of Fulgent Genetics by 220.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 43,813 shares of the company’s stock worth $952,000 after buying an additional 30,160 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Fulgent Genetics by 46.1% during the 2nd quarter. Algert Global LLC now owns 81,440 shares of the company’s stock worth $1,598,000 after buying an additional 25,680 shares during the period. Finally, State Street Corp grew its stake in Fulgent Genetics by 1.4% in the 3rd quarter. State Street Corp now owns 793,545 shares of the company’s stock valued at $17,244,000 after buying an additional 10,868 shares during the last quarter. 48.06% of the stock is owned by institutional investors.

Fulgent Genetics Company Profile

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.