Fulgent Genetics (NASDAQ:FLGT) Price Target Raised to $25.00

Fulgent Genetics (NASDAQ:FLGT) had its price target increased by investment analysts at Piper Sandler from $19.00 to $25.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler‘s price objective would suggest a potential downside of 4.40% from the company’s previous close.

FLGT has been the subject of several other research reports. Wall Street Zen upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded shares of Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.50.

Fulgent Genetics Trading Up 10.2%

Shares of NASDAQ FLGT opened at $26.15 on Tuesday. Fulgent Genetics has a 12-month low of $13.46 and a 12-month high of $31.04. The business’s fifty day simple moving average is $20.93 and its 200-day simple moving average is $19.30.

Fulgent Genetics (NASDAQ:FLGT) last released its earnings results on Thursday, November 5th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.56. Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%. The firm had revenue of $90.41 million during the quarter, compared to analysts’ expectations of $86.30 million. On average, research analysts forecast that Fulgent Genetics will post -3.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Hanlin Gao sold 1,673 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total transaction of $32,891.18. Following the completion of the transaction, the insider owned 986,117 shares in the company, valued at approximately $19,387,060.22. The trade was a 0.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,127 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total value of $41,816.82. Following the completion of the transaction, the chief operating officer directly owned 359,924 shares in the company, valued at $7,076,105.84. This trade represents a 0.59% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 5,932 shares of company stock worth $117,156 over the last 90 days. Company insiders own 36.18% of the company’s stock.

Institutional Trading of Fulgent Genetics

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP increased its holdings in shares of Fulgent Genetics by 559.9% in the second quarter. Allworth Financial LP now owns 1,201 shares of the company’s stock valued at $25,000 after purchasing an additional 1,019 shares during the period. Legal & General Group Plc acquired a new stake in shares of Fulgent Genetics during the second quarter worth $38,000. Moore Capital Management LP lifted its holdings in shares of Fulgent Genetics by 4.8% during the second quarter. Moore Capital Management LP now owns 48,343 shares of the company’s stock worth $992,000 after purchasing an additional 2,219 shares during the period. Amundi grew its position in Fulgent Genetics by 17.1% in the 1st quarter. Amundi now owns 41,596 shares of the company’s stock valued at $661,000 after buying an additional 6,072 shares during the last quarter. Finally, Alps Advisors Inc. grew its position in Fulgent Genetics by 25.6% in the 3rd quarter. Alps Advisors Inc. now owns 36,199 shares of the company’s stock valued at $797,000 after buying an additional 7,375 shares during the last quarter. 48.06% of the stock is owned by hedge funds and other institutional investors.

About Fulgent Genetics

Fulgent Genetics, Inc is a technology-driven clinical diagnostics company that develops and performs genetic testing. Its testing platform uses next-generation sequencing and other molecular technologies to analyze DNA and support the diagnosis, screening and management of inherited and acquired diseases.

The company offers a range of tests, including panels for hereditary cancer, reproductive health and inherited disorders, as well as tumor profiling and other specialized clinical testing services.