Fulgent Genetics (NASDAQ:FLGT) Stock Price Up 5.7% – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FLGT. Piper Sandler cut their target price on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. StockNews.com cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

Fulgent Genetics Stock Up 3.3 %

The firm has a 50 day moving average of $19.71 and a two-hundred day moving average of $21.05. The firm has a market capitalization of $617.86 million, a price-to-earnings ratio of -3.54 and a beta of 1.42.

Insider Buying and Selling

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of the stock in a transaction dated 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 trade 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. Insiders sold a total of 3,413 shares of company stock worth $62,321 in the last three months. 32.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fulgent Genetics

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in 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 buying an additional 8,257 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 acquiring an additional 3,458 shares in the last quarter. SG Americas Securities LLC increased its stake in Fulgent Genetics by 36.4% during the 2nd 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 in the last quarter. TCW Group Inc. increased its stake in Fulgent Genetics by 3.0% during the 2nd quarter. TCW Group Inc. now owns 120,100 shares of the company’s stock valued at $2,356,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Fulgent Genetics by 37.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company’s stock valued at $3,948,000 after purchasing an additional 55,020 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.