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

Fulgent Genetics, Inc. (NASDAQ:FLGT) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $16.07 and last traded at $16.49, with a volume of 29156 shares changing hands. The stock had previously closed at $16.64.

Analysts Set New Price Targets

Several brokerages have recently commented on FLGT. StockNews.com cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. 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 report on Monday, November 11th.

Fulgent Genetics Price Performance

The firm has a market cap of $505.04 million, a P/E ratio of -3.00 and a beta of 1.39. The company’s 50-day moving average is $18.45 and its two-hundred day moving average is $20.42.

Insider Activity at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,227 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were 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 owns 703,711 shares of the company’s stock, valued at $12,849,762.86. This represents a 0.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 3,413 shares of company stock valued at $62,321 over the last three months. 32.66% of the stock is owned by insiders.

Institutional Trading of Fulgent Genetics

A number of hedge funds and other institutional investors have recently modified their holdings of FLGT. Millennium Management LLC boosted its holdings in shares of Fulgent Genetics by 34.3% during the 2nd quarter. Millennium Management LLC now owns 958,852 shares of the company’s stock valued at $18,813,000 after acquiring an additional 244,981 shares in the last quarter. State Street Corp boosted its stake in shares of Fulgent Genetics by 1.4% during the third quarter. State Street Corp now owns 793,545 shares of the company’s stock valued at $17,244,000 after purchasing an additional 10,868 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 13,320 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Fulgent Genetics by 113.2% during the third quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock worth $7,346,000 after purchasing an additional 179,477 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Fulgent Genetics in the third quarter valued at approximately $5,854,000. Institutional investors 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.