Fulgent Genetic (NASDAQ:FLGT) issued its quarterly earnings results on Monday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02, Bloomberg Earnings reports. Fulgent Genetic had a negative return on equity of 0.02% and a negative net margin of 0.42%. The company had revenue of $4.64 million for the quarter, compared to analyst estimates of $5.03 million.
Shares of Fulgent Genetic (NASDAQ FLGT) traded up 1.51% during mid-day trading on Thursday, reaching $6.04. The company had a trading volume of 25,731 shares. The company’s market capitalization is $106.97 million. Fulgent Genetic has a 12-month low of $4.49 and a 12-month high of $13.90. The firm has a 50-day moving average of $6.28 and a 200-day moving average of $8.70.
Several equities research analysts recently weighed in on FLGT shares. Zacks Investment Research downgraded Fulgent Genetic from a “hold” rating to a “sell” rating in a report on Friday, May 12th. Credit Suisse Group cut their target price on Fulgent Genetic from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, August 8th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $7.00 target price (down from $10.00) on shares of Fulgent Genetic in a report on Wednesday, August 9th.
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In related news, CFO Paul Kim sold 6,134 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $5.71, for a total transaction of $35,025.14. Following the completion of the sale, the chief financial officer now owns 388,602 shares of the company’s stock, valued at $2,218,917.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ming Hsieh purchased 20,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were bought at an average price of $5.26 per share, for a total transaction of $105,200.00. Following the purchase, the insider now directly owns 6,482,244 shares in the company, valued at approximately $34,096,603.44. The disclosure for this purchase can be found here.
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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