Fulgent Genetics (NASDAQ:FLGT) Stock Rating Lowered by Zacks Research

Fulgent Genetics (NASDAQ:FLGT) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fulgent Genetics in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Fulgent Genetics from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Raymond James Financial reissued an “outperform” rating and set a $36.00 target price on shares of Fulgent Genetics in a research note on Friday, November 14th. Finally, Piper Sandler upped their price target on shares of Fulgent Genetics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Fulgent Genetics presently has an average rating of “Hold” and an average price target of $32.00.

Fulgent Genetics Trading Up 0.5%

Shares of NASDAQ:FLGT opened at $23.06 on Monday. The firm’s 50 day moving average is $26.92 and its two-hundred day moving average is $24.57. The firm has a market capitalization of $712.83 million, a P/E ratio of -16.59 and a beta of 0.86. Fulgent Genetics has a 52 week low of $14.57 and a 52 week high of $31.04.

Insider Transactions at Fulgent Genetics

In other Fulgent Genetics news, insider Hanlin Gao sold 1,075 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $28.33, for a total transaction of $30,454.75. Following the sale, the insider directly owned 952,890 shares of the company’s stock, valued at $26,995,373.70. The trade was a 0.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jian Xie sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $29.10, for a total value of $291,000.00. Following the transaction, the chief operating officer directly owned 349,768 shares in the company, valued at $10,178,248.80. The trade was a 2.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,572 shares of company stock worth $454,112 in the last three months. 33.11% of the stock is currently owned by company insiders.

Institutional Trading of Fulgent Genetics

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in Fulgent Genetics by 89.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 348,533 shares of the company’s stock valued at $9,156,000 after buying an additional 164,535 shares during the period. Geode Capital Management LLC grew its holdings in shares of Fulgent Genetics by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 508,224 shares of the company’s stock valued at $13,353,000 after acquiring an additional 6,553 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Fulgent Genetics by 2,984,354.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock valued at $39,985,000 after acquiring an additional 1,522,021 shares in the last quarter. Strs Ohio increased its stake in shares of Fulgent Genetics by 7,533.3% in the fourth quarter. Strs Ohio now owns 22,900 shares of the company’s stock worth $602,000 after acquiring an additional 22,600 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of Fulgent Genetics by 288.8% during the fourth quarter. UBS Group AG now owns 83,559 shares of the company’s stock worth $2,195,000 after acquiring an additional 62,070 shares in the last quarter. 48.06% of the stock is currently owned by institutional investors and hedge funds.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.