Fulgent Genetics (NASDAQ:FLGT) Trading Up 4% – Time to Buy?

Fulgent Genetics, Inc. (NASDAQ:FLGT)’s stock price traded up 4% during trading on Friday . The stock traded as high as $18.50 and last traded at $18.50. 62,159 shares were traded during mid-day trading, a decline of 66% from the average session volume of 181,130 shares. The stock had previously closed at $17.79.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler lowered their target price 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 report on Monday.

Fulgent Genetics Trading Down 1.3 %

The company has a market capitalization of $536.85 million, a P/E ratio of -3.21 and a beta of 1.51. The firm has a fifty day moving average of $20.77 and a 200 day moving average of $21.39.

Insider Activity

In related 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 sale, the chief executive officer now directly owns 707,275 shares in the company, valued at approximately $16,147,088.25. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 4,324 shares of company stock valued at $98,717 in the last ninety days. 31.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fulgent Genetics

Several institutional investors and hedge funds have recently bought and sold shares of FLGT. Asset Dedication LLC purchased a new stake in Fulgent Genetics in the 2nd quarter worth approximately $33,000. nVerses Capital LLC purchased a new position in shares of Fulgent Genetics in the second quarter valued at $43,000. Signaturefd LLC increased its position in Fulgent Genetics by 103.6% in the second quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock worth $44,000 after purchasing an additional 1,132 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Fulgent Genetics during the second quarter valued at $63,000. Finally, Gladius Capital Management LP bought a new position in Fulgent Genetics during the third quarter valued at $81,000. 48.06% of the stock is currently 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.