Fulgent Genetics (NASDAQ:FLGT) Reaches New 52-Week Low - What's Next?

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report)'s stock price hit a new 52-week low on Thursday . The stock traded as low as $18.86 and last traded at $18.88, with a volume of 55579 shares. The stock had previously closed at $19.18.

Fulgent Genetics Price Performance

The company has a market capitalization of $573.04 million, a P/E ratio of -3.44 and a beta of 1.50. The firm's 50-day moving average is $21.61 and its 200-day moving average is $21.44.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.30) by $0.45. Fulgent Genetics had a negative net margin of 56.22% and a negative return on equity of 2.75%. The firm had revenue of $71.03 million during the quarter, compared to the consensus estimate of $69.07 million. During the same quarter in the previous year, the firm posted ($0.33) EPS. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts forecast that Fulgent Genetics, Inc. will post -1.46 EPS for the current fiscal year.

Insider Transactions at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,313 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 directly owns 707,275 shares in the company, valued at approximately $16,147,088.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 4,324 shares of company stock valued at $98,717 over the last quarter. 31.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Millennium Management LLC raised its holdings in Fulgent Genetics by 34.3% during the second 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 during the period. Divisadero Street Capital Management LP lifted its holdings in Fulgent Genetics by 46.4% in 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in Fulgent Genetics by 37.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company's stock worth $3,948,000 after purchasing an additional 55,020 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Fulgent Genetics by 593.5% in the 2nd quarter. Acadian Asset Management LLC now owns 62,724 shares of the company's stock worth $1,227,000 after purchasing an additional 53,680 shares during the period. Finally, Acuitas Investments LLC purchased a new stake in Fulgent Genetics during the 2nd quarter valued at approximately $962,000. Hedge funds and other 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.