Fulgent Genetics (NASDAQ:FLGT) Reaches New 1-Year Low – Here’s What Happened

Fulgent Genetics, Inc. (NASDAQ:FLGT) reached a new 52-week low on Wednesday . The stock traded as low as $18.72 and last traded at $18.72, with a volume of 173190 shares trading hands. The stock had previously closed at $19.16.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FLGT shares. Piper Sandler reduced their price objective on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday. StockNews.com lowered Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Monday.

Fulgent Genetics Stock Down 3.9 %

The firm has a 50 day moving average price of $20.91 and a 200 day moving average price of $21.44.

Insiders Place Their Bets

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,313 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $22.83, for a total value of $52,805.79. Following the completion of the sale, the chief executive officer now owns 707,275 shares in the company, valued at approximately $16,147,088.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 4,324 shares of company stock worth $98,717. Corporate insiders own 31.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Rhumbline Advisers grew its position in shares of Fulgent Genetics by 0.9% during the second quarter. Rhumbline Advisers now owns 68,210 shares of the company’s stock valued at $1,338,000 after purchasing an additional 637 shares in the last quarter. Signaturefd LLC grew its position in shares of Fulgent Genetics by 103.6% during the second quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock valued at $44,000 after purchasing an additional 1,132 shares in the last quarter. Marquette Asset Management LLC lifted its holdings in shares of Fulgent Genetics by 13.7% in the 3rd quarter. Marquette Asset Management LLC now owns 9,908 shares of the company’s stock valued at $215,000 after acquiring an additional 1,191 shares during the last quarter. Asset Dedication LLC bought a new position in shares of Fulgent Genetics in the 2nd quarter valued at about $33,000. Finally, nVerses Capital LLC bought a new position in shares of Fulgent Genetics in the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

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.