Fulgent Genetics (NASDAQ:FLGT) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Fulgent Genetics (NASDAQ:FLGT) from a buy rating to a hold rating in a report released on Saturday morning.

Several other analysts have also recently commented on FLGT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Fulgent Genetics in a report on Friday, November 14th. Finally, Piper Sandler increased their price target on Fulgent Genetics from $21.00 to $30.00 and gave the company 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.00.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT opened at $26.92 on Friday. The stock has a market cap of $832.10 million, a PE ratio of -19.37 and a beta of 0.64. Fulgent Genetics has a 1 year low of $14.57 and a 1 year high of $31.04. The firm has a fifty day moving average price of $26.00 and a 200-day moving average price of $22.56.

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

Insider Activity at Fulgent Genetics

In related news, COO Jian Xie sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $29.10, for a total transaction of $291,000.00. Following the sale, the chief operating officer owned 349,768 shares of the company’s stock, valued at $10,178,248.80. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Hanlin Gao sold 1,075 shares of Fulgent Genetics stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $28.33, for a total value of $30,454.75. Following the completion of the transaction, the insider owned 952,890 shares in the company, valued at $26,995,373.70. This trade represents a 0.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 15,572 shares of company stock worth $454,112. 33.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Fulgent Genetics

A number of institutional investors have recently modified their holdings of the company. Signaturefd LLC raised its stake in shares of Fulgent Genetics by 60.4% during the 2nd quarter. Signaturefd LLC now owns 1,914 shares of the company’s stock worth $38,000 after acquiring an additional 721 shares in the last quarter. Rhumbline Advisers increased its position in shares of Fulgent Genetics by 2.4% during the second quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock worth $659,000 after purchasing an additional 785 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Fulgent Genetics by 11.2% during the 3rd quarter. Mackenzie Financial Corp now owns 12,155 shares of the company’s stock valued at $275,000 after purchasing an additional 1,220 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Fulgent Genetics by 2.1% in the 1st quarter. Hsbc Holdings PLC now owns 82,571 shares of the company’s stock worth $1,404,000 after purchasing an additional 1,695 shares in the last quarter. Finally, Peapod Lane Capital LLC boosted its position in shares of Fulgent Genetics by 1.1% in the 3rd quarter. Peapod Lane Capital LLC now owns 164,579 shares of the company’s stock worth $3,720,000 after purchasing an additional 1,810 shares in the last quarter. 48.06% of the stock is currently owned by institutional investors.

Fulgent Genetics Company Profile

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.