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

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

Analyst Ratings Changes

FLGT has been the topic of a number of recent research reports. 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 decreased their target price 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 Trading Down 1.7 %

The firm has a market capitalization of $510.09 million, a price-to-earnings ratio of -3.02 and a beta of 1.40. The stock has a fifty day moving average price of $18.48 and a 200-day moving average price of $20.61.

Insider Activity

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 703,711 shares in the company, valued at approximately $12,849,762.86. This trade represents a 0.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 3,413 shares of company stock worth $62,321. Corporate insiders own 31.76% of the company's stock.

Institutional Trading of Fulgent Genetics

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Fulgent Genetics by 45.5% during the 4th quarter. GAMMA Investing LLC now owns 2,133 shares of the company's stock worth $39,000 after buying an additional 667 shares during the period. Point72 DIFC Ltd bought a new position in Fulgent Genetics in the third quarter valued at approximately $46,000. Canada Pension Plan Investment Board acquired a new stake in Fulgent Genetics during the 2nd quarter worth $63,000. R Squared Ltd bought a new stake in shares of Fulgent Genetics during the 4th quarter valued at $74,000. Finally, Gladius Capital Management LP acquired a new position in shares of Fulgent Genetics in the 3rd quarter valued at $81,000. 48.06% of the stock is owned by institutional investors.

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.

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