Fulgent Genetics (NASDAQ:FLGT) Trading 5.7% Higher – Still a Buy?

Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) traded up 5.7% during trading on Monday . The stock traded as high as $19.45 and last traded at $19.34. 125,541 shares were traded during trading, a decline of 32% from the average session volume of 184,898 shares. The stock had previously closed at $18.30.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Piper Sandler cut 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. StockNews.com downgraded shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

Fulgent Genetics Stock Performance

The business’s fifty day moving average price is $19.79 and its 200-day moving average price is $21.09. The stock has a market cap of $588.25 million, a PE ratio of -3.32 and a beta of 1.51.

Insider Transactions at Fulgent Genetics

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of the firm’s 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 sale, the chief executive officer now owns 703,711 shares in the company, valued at approximately $12,849,762.86. This trade represents a 0.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 3,413 shares of company stock worth $62,321 in the last quarter. Company insiders own 31.76% of the company’s stock.

Institutional Investors Weigh In On Fulgent Genetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Fulgent Genetics by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,424,448 shares of the company’s stock valued at $30,911,000 after buying an additional 8,257 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Fulgent Genetics by 11.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 29,103 shares of the company’s stock worth $631,000 after buying an additional 2,879 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Fulgent Genetics by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,261 shares of the company’s stock valued at $310,000 after purchasing an additional 3,458 shares during the period. SG Americas Securities LLC boosted its stake in shares of Fulgent Genetics by 36.4% during the second quarter. SG Americas Securities LLC now owns 12,826 shares of the company’s stock valued at $252,000 after purchasing an additional 3,425 shares during the period. Finally, TCW Group Inc. raised its holdings in shares of Fulgent Genetics by 3.0% in the second quarter. TCW Group Inc. now owns 120,100 shares of the company’s stock valued at $2,356,000 after acquiring an additional 3,500 shares in the last quarter. Institutional investors own 48.06% of the company’s stock.

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.