Fulgent Genetics (NASDAQ:FLGT) Sets New 52-Week Low – Time to Sell?

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

Analysts Set New Price Targets

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

Fulgent Genetics Stock Down 0.8 %

The firm has a market cap of $505.04 million, a price-to-earnings ratio of -3.00 and a beta of 1.39. The firm has a 50 day moving average of $18.45 and a 200 day moving average of $20.42.

Insider Activity

In other news, CEO Ming Hsieh sold 2,227 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 owns 703,711 shares in the company, valued at $12,849,762.86. The trade was a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 3,413 shares of company stock worth $62,321 in the last quarter. 32.66% of the stock is owned by corporate insiders.

Institutional Trading of Fulgent Genetics

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of Fulgent Genetics by 113.2% in the third quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock valued at $7,346,000 after buying an additional 179,477 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Fulgent Genetics by 220.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 43,813 shares of the company’s stock valued at $952,000 after acquiring an additional 30,160 shares in the last quarter. State Street Corp lifted its position in Fulgent Genetics by 1.4% in the 3rd quarter. State Street Corp now owns 793,545 shares of the company’s stock valued at $17,244,000 after acquiring an additional 10,868 shares in the last quarter. Franklin Resources Inc. acquired a new position in Fulgent Genetics during the 3rd quarter valued at about $215,000. Finally, Geode Capital Management LLC increased its holdings in Fulgent Genetics by 2.7% during the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.