Fulgent Genetics (NASDAQ:FLGT) Hits New 52-Week Low – Here’s What Happened

Fulgent Genetics, Inc. (NASDAQ:FLGT) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $16.56 and last traded at $16.56, with a volume of 213 shares traded. The stock had previously closed at $16.71.

Wall Street Analysts Forecast Growth

FLGT has been the subject of a number of research reports. Piper Sandler dropped 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, November 11th. StockNews.com raised Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday.

Fulgent Genetics Trading Up 2.7 %

The company has a market capitalization of $524.92 million, a price-to-earnings ratio of -3.03 and a beta of 1.51. The stock’s fifty day simple moving average is $20.59 and its 200-day simple moving average is $21.35.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,313 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $22.83, for a total transaction of $52,805.79. Following the completion of the transaction, the chief executive officer now owns 707,275 shares in the company, valued at $16,147,088.25. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 4,324 shares of company stock valued at $98,717 in the last quarter. Corporate insiders own 32.66% of the company’s stock.

Institutional Trading of Fulgent Genetics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings 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 worth $30,911,000 after purchasing an additional 8,257 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Fulgent Genetics by 34.3% in the 2nd quarter. Millennium Management LLC now owns 958,852 shares of the company’s stock worth $18,813,000 after acquiring an additional 244,981 shares during the period. State Street Corp boosted its position in shares of Fulgent Genetics by 1.4% during 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 in the last quarter. Divisadero Street Capital Management LP grew its holdings in Fulgent Genetics by 46.4% in the second quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock valued at $9,912,000 after purchasing an additional 160,212 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Fulgent Genetics by 2.7% during the third quarter. Geode Capital Management LLC now owns 502,869 shares of the company’s stock worth $10,930,000 after buying an additional 13,320 shares in the last quarter. 48.06% of the stock is currently owned by institutional investors and hedge funds.

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.