Fulgent Genetics (NASDAQ:FLGT) Trading Down 10.8% - Time to Sell?

Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) fell 10.8% during trading on Friday . The stock traded as low as $19.62 and last traded at $19.65. 294,278 shares were traded during mid-day trading, an increase of 65% from the average session volume of 178,481 shares. The stock had previously closed at $22.02.

Fulgent Genetics Price Performance

The company's 50 day simple moving average is $21.08 and its 200 day simple moving average is $21.44. The firm has a market cap of $588.73 million, a price-to-earnings ratio of -3.62 and a beta of 1.51.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,313 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $22.83, for a total transaction of $52,805.79. Following the completion of the transaction, the chief executive officer now owns 707,275 shares in the company, valued at $16,147,088.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 4,324 shares of company stock valued at $98,717 in the last quarter. Corporate insiders own 32.66% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FLGT. Vanguard Group Inc. lifted its position in Fulgent Genetics by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,424,448 shares of the company's stock valued at $30,911,000 after acquiring an additional 8,257 shares during the last quarter. Millennium Management LLC grew its position in shares of Fulgent Genetics by 34.3% during the second quarter. Millennium Management LLC now owns 958,852 shares of the company's stock worth $18,813,000 after acquiring an additional 244,981 shares during the last quarter. Divisadero Street Capital Management LP boosted its stake in Fulgent Genetics by 46.4% during the 2nd quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company's stock worth $9,912,000 after purchasing an additional 160,212 shares during the period. Bank of New York Mellon Corp increased its stake in Fulgent Genetics by 37.6% in the second quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company's stock valued at $3,948,000 after purchasing an additional 55,020 shares during the period. Finally, TCW Group Inc. boosted its stake in shares of Fulgent Genetics by 3.0% during the second quarter. TCW Group Inc. now owns 120,100 shares of the company's stock worth $2,356,000 after buying an additional 3,500 shares during the period. 48.06% of the stock is owned by institutional investors and hedge funds.

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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