Fulgent Genetics (NASDAQ:FLGT) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Fulgent Genetics (NASDAQ:FLGT) from a sell rating to a strong sell rating in a research note published on Saturday morning.

A number of other analysts have also recently issued reports on the company. Piper Sandler lifted their price objective on Fulgent Genetics from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fulgent Genetics in a research report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.50.

Fulgent Genetics Stock Up 3.2%

FLGT stock opened at $19.14 on Friday. Fulgent Genetics has a 12-month low of $13.46 and a 12-month high of $31.04. The company has a market cap of $526.54 million, a price-to-earnings ratio of -6.79 and a beta of 0.90. The company has a 50 day moving average of $19.37 and a two-hundred day moving average of $18.90.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.12). Fulgent Genetics had a negative net margin of 26.05% and a negative return on equity of 4.93%. The company had revenue of $85.39 million for the quarter, compared to analysts’ expectations of $94.00 million. Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. On average, research analysts anticipate that Fulgent Genetics will post -2.81 EPS for the current year.

Insiders Place Their Bets

In related news, COO Jian Xie sold 2,146 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $38,391.94. Following the completion of the sale, the chief operating officer directly owned 367,605 shares in the company, valued at approximately $6,576,453.45. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hanlin Gao sold 1,688 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $30,198.32. Following the transaction, the insider directly owned 990,374 shares in the company, valued at $17,717,790.86. The trade was a 0.17% decrease in their ownership of the stock. 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 have sold a total of 5,980 shares of company stock worth $106,360 in the last 90 days. 36.18% of the stock is owned by insiders.

Institutional Trading of Fulgent Genetics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its holdings in shares of Fulgent Genetics by 69.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock valued at $35,000 after acquiring an additional 548 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Fulgent Genetics in the 4th quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd boosted its position in Fulgent Genetics by 214.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock worth $48,000 after purchasing an additional 1,251 shares during the period. Raymond James Financial Inc. bought a new stake in Fulgent Genetics during the second quarter worth approximately $49,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Fulgent Genetics during the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

About Fulgent Genetics

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.