Fulgent Genetics (NASDAQ:FLGT) Reaches New 12-Month Low – Time to Sell?

Fulgent Genetics, Inc. (NASDAQ:FLGT) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $15.99 and last traded at $16.36, with a volume of 150186 shares trading hands. The stock had previously closed at $16.16.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FLGT shares. StockNews.com cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Piper Sandler reduced their price target 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.

Fulgent Genetics Stock Up 0.7 %

The firm has a market cap of $497.70 million, a PE ratio of -2.95 and a beta of 1.39. The stock’s fifty day simple moving average is $18.21 and its two-hundred day simple moving average is $20.16.

Insiders Place Their Bets

In related news, CEO Ming Hsieh sold 2,227 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 703,711 shares in the company, valued at $12,849,762.86. This represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 3,413 shares of company stock worth $62,321. 31.76% of the stock is currently owned by company insiders.

Institutional Trading of Fulgent Genetics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in Fulgent Genetics by 113.2% during the third quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock valued at $7,346,000 after acquiring an additional 179,477 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Fulgent Genetics by 220.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 43,813 shares of the company’s stock worth $952,000 after purchasing an additional 30,160 shares during the period. State Street Corp boosted its holdings in shares of Fulgent Genetics by 1.4% in the 3rd quarter. State Street Corp now owns 793,545 shares of the company’s stock worth $17,244,000 after purchasing an additional 10,868 shares during the period. Franklin Resources Inc. purchased a new position in shares of Fulgent Genetics in the 3rd quarter worth approximately $215,000. Finally, Geode Capital Management LLC boosted its holdings 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 worth $10,930,000 after purchasing an additional 13,320 shares during the period. 48.06% of the stock is owned by hedge funds and other 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.