Fulgent Genetics (NASDAQ:FLGT) issued its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03), Morningstar.com reports. The firm had revenue of $5.37 million for the quarter, compared to analysts’ expectations of $5.46 million. Fulgent Genetics had a negative return on equity of 6.96% and a negative net margin of 21.02%.
Shares of FLGT stock traded down $0.66 during mid-day trading on Wednesday, hitting $5.57. 50,512 shares of the stock were exchanged, compared to its average volume of 19,963. The firm has a market cap of $101.77 million, a price-to-earnings ratio of -29.29 and a beta of 1.41. Fulgent Genetics has a 12-month low of $3.02 and a 12-month high of $7.85.
FLGT has been the topic of several research reports. TheStreet raised Fulgent Genetics from a “d” rating to a “c-” rating in a report on Friday, March 1st. Zacks Investment Research lowered Fulgent Genetics from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Finally, Credit Suisse Group lowered Fulgent Genetics from an “outperform” rating to a “neutral” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.62.
In other news, insider Ming Hsieh acquired 8,739 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were bought at an average price of $4.95 per share, with a total value of $43,258.05. Following the completion of the acquisition, the insider now owns 6,579,326 shares in the company, valued at approximately $32,567,663.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 57.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in FLGT. Financial Advisors LLC acquired a new stake in shares of Fulgent Genetics during the fourth quarter worth about $35,000. Brown Advisory Inc. acquired a new stake in shares of Fulgent Genetics during the fourth quarter worth about $46,000. Essex Investment Management Co. LLC acquired a new stake in shares of Fulgent Genetics during the fourth quarter worth about $261,000. Finally, Old West Investment Management LLC boosted its stake in shares of Fulgent Genetics by 8.5% during the fourth quarter. Old West Investment Management LLC now owns 434,454 shares of the company’s stock worth $1,377,000 after buying an additional 34,140 shares during the period. Institutional investors and hedge funds own 6.62% of the company’s stock.
About Fulgent Genetics
Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, learning software, and genetic diagnostics tools and integrated laboratory processes.
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