Fulgent Genetics (NASDAQ:FLGT) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Fulgent Genetics, Inc. (NASDAQ:FLGT) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $23.00 and traded as low as $14.79. Fulgent Genetics shares last traded at $14.95, with a volume of 884,083 shares.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FLGT. Zacks Research downgraded shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fulgent Genetics in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.00.

Fulgent Genetics Stock Performance

The business has a fifty day simple moving average of $22.53 and a 200-day simple moving average of $24.21. The firm has a market cap of $472.82 million, a price-to-earnings ratio of -7.72 and a beta of 0.94.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings results on Friday, February 27th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. The firm had revenue of $83.34 million for the quarter, compared to analyst estimates of $85.38 million. Fulgent Genetics had a negative return on equity of 2.22% and a negative net margin of 18.75%.Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. On average, equities analysts anticipate that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Fulgent Genetics

A number of institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH raised its stake in shares of Fulgent Genetics by 119.6% during the third quarter. Allianz Asset Management GmbH now owns 90,869 shares of the company’s stock valued at $2,054,000 after acquiring an additional 49,485 shares during the last quarter. Diametric Capital LP acquired a new position in shares of Fulgent Genetics during the second quarter worth $3,359,000. Brandywine Global Investment Management LLC bought a new stake in shares of Fulgent Genetics in the second quarter worth $2,678,000. Creative Planning grew its stake in shares of Fulgent Genetics by 146.2% in the second quarter. Creative Planning now owns 40,021 shares of the company’s stock worth $796,000 after purchasing an additional 23,766 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Fulgent Genetics in the second quarter valued at $300,000. 48.06% of the stock is owned by institutional investors.

About Fulgent Genetics

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.