FULGENT GENETIC (FLGT) Rating Increased to Hold at ValuEngine
FULGENT GENETIC (NASDAQ:FLGT) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of FULGENT GENETIC from a “sell” rating to a “hold” rating in a research note on Monday, September 18th. Piper Jaffray Companies reiterated an “overweight” rating and set a $7.00 price objective (down from $10.00) on shares of FULGENT GENETIC in a research report on Wednesday, August 9th. Finally, Credit Suisse Group lowered their price objective on shares of FULGENT GENETIC from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, August 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $10.67.
Shares of FULGENT GENETIC (NASDAQ FLGT) opened at 4.78 on Monday. The firm’s market capitalization is $84.80 million. The stock has a 50 day moving average price of $4.91 and a 200 day moving average price of $4.91. FULGENT GENETIC has a 1-year low of $4.37 and a 1-year high of $13.90.
FULGENT GENETIC (NASDAQ:FLGT) last released its earnings results on Monday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.02. The firm had revenue of $4.64 million for the quarter, compared to analysts’ expectations of $5.03 million. FULGENT GENETIC had a negative return on equity of 0.02% and a negative net margin of 0.42%. Equities research analysts anticipate that FULGENT GENETIC will post $0.14 earnings per share for the current fiscal year.
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In other FULGENT GENETIC news, CFO Paul Kim sold 6,134 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $5.71, for a total value of $35,025.14. Following the completion of the transaction, the chief financial officer now owns 388,602 shares of the company’s stock, valued at approximately $2,218,917.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Several hedge funds have recently made changes to their positions in FLGT. William Blair Investment Management LLC boosted its stake in shares of FULGENT GENETIC by 10.4% during the second quarter. William Blair Investment Management LLC now owns 640,219 shares of the company’s stock valued at $4,091,000 after purchasing an additional 60,508 shares in the last quarter. Scholtz & Company LLC grew its holdings in shares of FULGENT GENETIC by 50.3% during the first quarter. Scholtz & Company LLC now owns 266,705 shares of the company’s stock worth $2,912,000 after purchasing an additional 89,205 shares during the last quarter. Blair William & Co. IL bought a new stake in shares of FULGENT GENETIC during the first quarter worth about $287,000. Bank of New York Mellon Corp bought a new stake in shares of FULGENT GENETIC during the first quarter worth about $122,000. Finally, Wells Fargo & Company MN grew its holdings in shares of FULGENT GENETIC by 2,046.0% during the first quarter. Wells Fargo & Company MN now owns 10,730 shares of the company’s stock worth $118,000 after purchasing an additional 10,230 shares during the last quarter. 16.78% of the stock is currently owned by hedge funds and other institutional investors.
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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