Zacks Investment Research Lowers Fulgent Genetics (FLGT) to Hold
Zacks Investment Research cut shares of Fulgent Genetics (NASDAQ:FLGT) from a buy rating to a hold rating in a research note published on Tuesday morning.
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. “
Shares of NASDAQ:FLGT traded down $0.43 during midday trading on Tuesday, reaching $3.80. 1,500 shares of the company’s stock were exchanged, compared to its average volume of 23,687. The company has a market capitalization of $81.49 million, a price-to-earnings ratio of -34.55 and a beta of 0.66. Fulgent Genetics has a fifty-two week low of $3.02 and a fifty-two week high of $5.56.
In other Fulgent Genetics news, insider Ming Hsieh acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The stock was purchased at an average cost of $3.36 per share, with a total value of $33,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 58.80% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in Fulgent Genetics stock. Granahan Investment Management Inc. MA increased its holdings in shares of Fulgent Genetics Inc (NASDAQ:FLGT) by 17.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 227,233 shares of the company’s stock after purchasing an additional 34,229 shares during the quarter. Granahan Investment Management Inc. MA owned 1.27% of Fulgent Genetics worth $941,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.08% of the company’s stock.
Fulgent Genetics Company Profile
Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, learning software, and genetic diagnostics tools and integrated laboratory processes.
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