Fulgent Genetics CSO Gao Hanlin sells $18,691 in stock
Chief Scientific Officer at Fulgent Genetics, Hanlin Gao, sold 939 shares of the company's common stock on August 27, 2026. The transactions were carried out to meet tax withholding obligations associated with the vesting of restricted stock units that had been granted to Mr. Gao in the past. The shares were traded at prices ranging from $19.83 to $20.00, with a weighted average sale price of $19.9053 per share.
This sale occurred when Fulgent Genetics' stock price was trading at $19.61, marking a 28% increase over the past six months. The sale aligns well with the stock's current market price. As of now, Mr. Gao personally holds 987,790 shares of Fulgent Genetics common stock. The stock's current valuation appears to be undervalued, according to InvestingPro's analysis.
The company possesses a robust balance sheet, boasting more cash than debt, and trades at a low revenue multiple relative to its $324 million in annual revenue. For those interested in further insights, InvestingPro provides 8 additional exclusive tips and comprehensive Pro Research Reports on Fulgent Genetics and over 1,400 other US equities.
Recently, Fulgent Genetics announced its second-quarter financial results, which fell short of Wall Street's expectations. The company reported an adjusted loss of $0.58 per share, as opposed to the anticipated loss of $0.44. Revenue for the quarter amounted to $85.4 million, which was lower than the $91.77 million expected by analysts.
Despite a 4% rise in revenue from the previous year and a 20% increase from the first quarter, the results were tempered by a lowered outlook for the full year. Management cited billing-system issues as a factor impacting collections. The revenue growth was bolstered by contributions from Bako Diagnostics and StrataDx. These developments have prompted investors to reconsider the company's financial situation.
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