Zacks Investment Research upgraded shares of FULGENT GENETIC (NASDAQ:FLGT) from a sell rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Fulgent Genetics, Inc. is a technology company. It provide genetic testing services to physicians with clinically actionable diagnostic information. The Company’s technology platform integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory process which serves primarily to hospitals and medical institutions. Fulgent Genetics, Inc. is headquartered in Temple City, California. “

A number of other research firms also recently weighed in on FLGT. Piper Jaffray Companies restated an overweight rating and issued a $7.00 target price (down from $10.00) on shares of FULGENT GENETIC in a research report on Wednesday, August 9th. Credit Suisse Group cut their target price on FULGENT GENETIC from $11.00 to $10.00 and set an outperform rating for the company in a research report on Tuesday, August 8th.

FULGENT GENETIC (NASDAQ FLGT) opened at 5.51 on Tuesday. The company has a 50-day moving average price of $5.91 and a 200 day moving average price of $10.41. FULGENT GENETIC has a 1-year low of $5.35 and a 1-year high of $13.90. The stock’s market capitalization is $97.75 million.

FULGENT GENETIC (NASDAQ:FLGT) last released its earnings results on Monday, August 7th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $4.64 million during the quarter, compared to the consensus estimate of $5.03 million. FULGENT GENETIC had a negative return on equity of 0.02% and a negative net margin of 0.42%. On average, equities analysts predict that FULGENT GENETIC will post $0.14 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This story was published by Watch List News and is the sole property of of Watch List News. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://www.watchlistnews.com/fulgent-genetic-flgt-upgraded-to-hold-by-zacks-investment-research/1558754.html.

In other FULGENT GENETIC news, CFO Paul Kim sold 6,134 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 388,602 shares in the company, valued at $2,218,917.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ming Hsieh bought 20,000 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was purchased at an average price of $5.26 per share, with a total value of $105,200.00. Following the completion of the transaction, the insider now directly owns 6,482,244 shares of the company’s stock, valued at $34,096,603.44. The disclosure for this purchase can be found here.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in FULGENT GENETIC by 2,046.0% in 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 period. Bank of New York Mellon Corp bought a new position in shares of FULGENT GENETIC in the first quarter valued at $122,000. Blair William & Co. IL bought a new position in shares of FULGENT GENETIC in the first quarter valued at $287,000. William Blair Investment Management LLC increased its holdings in shares of FULGENT GENETIC by 10.4% in the second quarter. William Blair Investment Management LLC now owns 640,219 shares of the company’s stock valued at $4,091,000 after buying an additional 60,508 shares in the last quarter. Finally, Scholtz & Company LLC increased its holdings in shares of FULGENT GENETIC by 50.3% in the first quarter. Scholtz & Company LLC now owns 266,705 shares of the company’s stock valued at $2,912,000 after buying an additional 89,205 shares in the last quarter. Hedge funds and other institutional investors own 16.78% of the company’s stock.

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.

Receive News & Ratings for FULGENT GENETIC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FULGENT GENETIC and related companies with Analyst Ratings Network's FREE daily email newsletter.