Fulgent Genetics (NASDAQ:FLGT) Hits New 12-Month Low – Time to Sell?

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

Analysts Set New Price Targets

A number of analysts have issued reports on FLGT shares. StockNews.com upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday. Piper Sandler reduced their target price on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, November 11th.

Fulgent Genetics Trading Up 1.6 %

The company has a market cap of $528.60 million, a P/E ratio of -3.13 and a beta of 1.51. The company has a 50 day moving average price of $20.50 and a 200-day moving average price of $21.32.

Insider Activity at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,313 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 707,275 shares in the company, valued at $16,147,088.25. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 4,324 shares of company stock worth $98,717 in the last quarter. 32.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Fulgent Genetics

Several large investors have recently added to or reduced their stakes in FLGT. Asset Dedication LLC bought a new stake in shares of Fulgent Genetics in the 2nd quarter valued at $33,000. Point72 DIFC Ltd acquired a new stake in Fulgent Genetics in the third quarter worth $46,000. nVerses Capital LLC bought a new stake in Fulgent Genetics in the second quarter valued at $43,000. Signaturefd LLC boosted its position in shares of Fulgent Genetics by 103.6% during the 2nd quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock worth $44,000 after purchasing an additional 1,132 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Fulgent Genetics in the 2nd quarter valued at about $63,000. Institutional investors and hedge funds 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.