Fulgent Genetics (NASDAQ:FLGT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other brokerages have also recently issued reports on FLGT. UBS Group raised shares of Fulgent Genetics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $20.00 to $30.00 in a research note on Tuesday, August 5th. Raymond James Financial restated an “outperform” rating and issued a $36.00 price target on shares of Fulgent Genetics in a research report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulgent Genetics in a report on Wednesday, October 8th. Finally, Piper Sandler boosted their price objective on Fulgent Genetics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.00.

Fulgent Genetics Stock Performance

NASDAQ FLGT opened at $28.81 on Friday. The business has a fifty day moving average price of $23.47 and a 200 day moving average price of $21.35. The company has a market cap of $890.57 million, a P/E ratio of -17.36 and a beta of 0.92. Fulgent Genetics has a one year low of $14.57 and a one year high of $30.59.

Fulgent Genetics (NASDAQ:FLGT) last announced its earnings results on Friday, November 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.36. The company had revenue of $84.07 million for the quarter, compared to analysts’ expectations of $81.43 million. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. As a group, sell-side analysts predict that Fulgent Genetics will post -0.85 EPS for the current fiscal year.

Insider Activity at Fulgent Genetics

In other news, COO Jian Xie sold 1,199 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $21.48, for a total transaction of $25,754.52. Following the completion of the transaction, the chief operating officer directly owned 365,249 shares in the company, valued at approximately $7,845,548.52. This represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 5,577 shares of company stock valued at $121,024. Corporate insiders own 31.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Fulgent Genetics by 16.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 243,979 shares of the company’s stock valued at $4,123,000 after acquiring an additional 33,768 shares during the period. Acadian Asset Management LLC increased its holdings in Fulgent Genetics by 38.7% in the 2nd quarter. Acadian Asset Management LLC now owns 1,117,917 shares of the company’s stock valued at $22,208,000 after purchasing an additional 311,976 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in Fulgent Genetics in the second quarter valued at approximately $823,000. Y Intercept Hong Kong Ltd acquired a new position in Fulgent Genetics during the first quarter worth $1,050,000. Finally, Nuveen LLC acquired a new position in Fulgent Genetics during the first quarter worth $952,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

About Fulgent Genetics

Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company’s clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases.