Fulgent Genetics (NASDAQ:FLGT) Stock Rating Lowered by Wall Street Zen

Fulgent Genetics (NASDAQ:FLGT) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently issued reports on the stock. Raymond James Financial reissued an “outperform” rating and set a $36.00 price target on shares of Fulgent Genetics in a report on Friday, November 14th. Piper Sandler upped their price objective on shares of Fulgent Genetics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Fulgent Genetics has a consensus rating of “Hold” and an average price target of $32.00.

Fulgent Genetics Stock Up 0.3%

Fulgent Genetics stock opened at $27.14 on Friday. The business’s 50-day moving average price is $25.92 and its 200 day moving average price is $22.52. The firm has a market cap of $838.95 million, a price-to-earnings ratio of -19.53 and a beta of 0.65. Fulgent Genetics has a 52 week low of $14.57 and a 52 week high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.36. The company had revenue of $84.07 million during the quarter, compared to the consensus estimate of $81.43 million. Fulgent Genetics had a negative return on equity of 2.55% and a negative net margin of 13.62%.Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. Equities analysts expect that Fulgent Genetics will post -0.85 EPS for the current year.

Insider Buying and Selling at Fulgent Genetics

In related news, COO Jian Xie sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $29.10, for a total transaction of $291,000.00. Following the completion of the transaction, the chief operating officer owned 349,768 shares in the company, valued at $10,178,248.80. This represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hanlin Gao sold 1,075 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $28.33, for a total transaction of $30,454.75. Following the completion of the transaction, the insider directly owned 952,890 shares in the company, valued at $26,995,373.70. This represents a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 15,572 shares of company stock worth $454,112. Insiders own 31.76% of the company’s stock.

Institutional Investors Weigh In On Fulgent Genetics

Several large investors have recently bought and sold shares of the company. Signaturefd LLC lifted its position in shares of Fulgent Genetics by 60.4% in the second quarter. Signaturefd LLC now owns 1,914 shares of the company’s stock valued at $38,000 after acquiring an additional 721 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Fulgent Genetics during the second quarter worth approximately $49,000. PNC Financial Services Group Inc. raised its stake in Fulgent Genetics by 122.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company’s stock valued at $60,000 after purchasing an additional 1,963 shares during the last quarter. Quantbot Technologies LP acquired a new position in Fulgent Genetics in the 3rd quarter valued at $61,000. Finally, State of Wyoming lifted its holdings in Fulgent Genetics by 111.1% in the 1st quarter. State of Wyoming now owns 6,564 shares of the company’s stock valued at $111,000 after purchasing an additional 3,455 shares in the last quarter. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

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.