Fulgent Genetics, Inc. (NASDAQ:FLGT) CEO Sells $40,665.02 in Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) CEO Ming Hsieh sold 2,227 shares of Fulgent Genetics stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.26, for a total value of $40,665.02. Following the completion of the transaction, the chief executive officer now directly owns 703,711 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

Fulgent Genetics Price Performance

Fulgent Genetics stock opened at $18.30 on Friday. Fulgent Genetics, Inc. has a one year low of $16.56 and a one year high of $30.68. The stock’s 50 day moving average is $19.79 and its 200 day moving average is $21.11. The firm has a market cap of $559.80 million, a P/E ratio of -3.32 and a beta of 1.51.

Hedge Funds 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 position in Fulgent Genetics in the third quarter valued at approximately $215,000. Geode Capital Management LLC lifted its stake in Fulgent Genetics by 2.7% in the third 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 period. Barclays PLC lifted its stake in Fulgent Genetics by 22.6% in the third 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 period. State Street Corp lifted its stake in Fulgent Genetics by 1.4% in the third 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 period. Finally, Point72 DIFC Ltd acquired a new position in Fulgent Genetics in the third quarter valued at approximately $46,000. 48.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on FLGT. Piper Sandler cut their price objective on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. StockNews.com lowered Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday.

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.