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

Fulgent Genetics, Inc. (NASDAQ:FLGT) hit a new 52-week low on Tuesday . The company traded as low as $15.99 and last traded at $16.36, with a volume of 150186 shares changing hands. The stock had previously closed at $16.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FLGT shares. Piper Sandler decreased 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 downgraded Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

Fulgent Genetics Trading Up 0.7 %

The company has a market cap of $497.70 million, a price-to-earnings ratio of -2.95 and a beta of 1.39. The business has a fifty day moving average of $18.21 and a two-hundred day moving average of $20.16.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of Fulgent Genetics stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.26, for a total transaction of $40,665.02. Following the completion of the sale, the chief executive officer now directly owns 703,711 shares in the company, valued at $12,849,762.86. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 3,413 shares of company stock valued at $62,321 over the last quarter. 31.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fulgent Genetics

A number of institutional investors have recently made changes to their positions in FLGT. KLP Kapitalforvaltning AS purchased a new position in Fulgent Genetics in the fourth quarter worth approximately $57,000. American Century Companies Inc. lifted its stake in Fulgent Genetics by 10.3% in the fourth quarter. American Century Companies Inc. now owns 45,645 shares of the company’s stock worth $843,000 after acquiring an additional 4,262 shares during the last quarter. Quantbot Technologies LP lifted its stake in Fulgent Genetics by 131.9% in the fourth quarter. Quantbot Technologies LP now owns 10,420 shares of the company’s stock worth $192,000 after acquiring an additional 5,926 shares during the last quarter. Magnetar Financial LLC purchased a new position in Fulgent Genetics in the fourth quarter worth approximately $314,000. Finally, Intech Investment Management LLC lifted its stake in Fulgent Genetics by 248.3% in the fourth quarter. Intech Investment Management LLC now owns 43,539 shares of the company’s stock worth $804,000 after acquiring an additional 31,037 shares during the last quarter. 48.06% of the stock is currently owned by institutional investors and hedge funds.

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.