Insider Buying: Fulgent Genetic (FLGT) Insider Purchases $34,663.20 in Stock

Fulgent Genetic (NASDAQ:FLGT) insider Ming Hsieh purchased 10,504 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average price of $3.30 per share, with a total value of $34,663.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ming Hsieh also recently made the following trade(s):

  • On Thursday, November 16th, Ming Hsieh purchased 2,205 shares of Fulgent Genetic stock. The stock was bought at an average price of $3.23 per share, with a total value of $7,122.15.
  • On Thursday, November 9th, Ming Hsieh purchased 11,520 shares of Fulgent Genetic stock. The stock was bought at an average price of $3.47 per share, with a total value of $39,974.40.

Fulgent Genetic (NASDAQ FLGT) traded up $0.07 during trading on Friday, reaching $3.26. 109,890 shares of the company’s stock were exchanged, compared to its average volume of 63,834. The firm has a market capitalization of $58.10 and a P/E ratio of 166.00. Fulgent Genetic has a 1 year low of $2.72 and a 1 year high of $13.90.

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A number of equities analysts have commented on FLGT shares. Zacks Investment Research raised shares of Fulgent Genetic from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Fulgent Genetic in a report on Wednesday, August 9th. Credit Suisse Group decreased their price objective on shares of Fulgent Genetic from $10.00 to $7.50 and set an “outperform” rating for the company in a report on Tuesday, November 7th. ValuEngine raised shares of Fulgent Genetic from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Raymond James Financial, Inc. downgraded shares of Fulgent Genetic from an “outperform” rating to a “mkt perform” rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $7.25.

A number of institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its holdings in Fulgent Genetic by 2,046.0% in the first quarter. Wells Fargo & Company MN now owns 10,730 shares of the company’s stock worth $118,000 after purchasing an additional 10,230 shares during the period. Bank of New York Mellon Corp acquired a new position in Fulgent Genetic in the first quarter worth $122,000. William Blair Investment Management LLC boosted its holdings in Fulgent Genetic by 10.4% in the second quarter. William Blair Investment Management LLC now owns 640,219 shares of the company’s stock worth $4,091,000 after purchasing an additional 60,508 shares during the period. Finally, Granahan Investment Management Inc. MA boosted its holdings in Fulgent Genetic by 145.5% in the third quarter. Granahan Investment Management Inc. MA now owns 238,232 shares of the company’s stock worth $1,141,000 after purchasing an additional 141,182 shares during the period. 16.78% of the stock is owned by hedge funds and other institutional investors.

About Fulgent Genetic

Fulgent Genetics, Inc is a technology company. The Company offers genetic testing to provide physicians with clinically actionable diagnostic information to improve quality of patient care. The Company has developed a technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes.

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