Fulgent Genetics (NASDAQ:FLGT) Reaches New 52-Week Low – Here’s Why

Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) hit a new 52-week low on Thursday . The company traded as low as $16.36 and last traded at $16.48, with a volume of 59157 shares changing hands. The stock had previously closed at $16.96.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Piper Sandler lowered their price target 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 Stock Performance

The stock has a fifty day simple moving average of $18.46 and a two-hundred day simple moving average of $20.59. The stock has a market cap of $526.45 million, a PE ratio of -3.12 and a beta of 1.40.

Insider Activity

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of the firm’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. This trade represents a 0.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 3,413 shares of company stock worth $62,321. 31.76% of the stock is currently owned by company insiders.

Institutional Trading of Fulgent Genetics

A number of hedge funds have recently made changes to their positions in the stock. R Squared Ltd bought a new position in shares of Fulgent Genetics during the fourth quarter worth about $74,000. Exchange Traded Concepts LLC lifted its holdings in Fulgent Genetics by 5.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 35,324 shares of the company’s stock worth $652,000 after buying an additional 1,689 shares during the last quarter. Marquette Asset Management LLC grew its position in shares of Fulgent Genetics by 59.2% in the 4th quarter. Marquette Asset Management LLC now owns 15,777 shares of the company’s stock worth $291,000 after acquiring an additional 5,869 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Fulgent Genetics by 45.5% in the 4th quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock worth $39,000 after acquiring an additional 667 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Fulgent Genetics by 113.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock valued at $7,346,000 after acquiring an additional 179,477 shares during the last quarter. 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.