Fulgent Genetics (NASDAQ:FLGT) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $23.00 and traded as low as $14.79. Fulgent Genetics shares last traded at $14.95, with a volume of 884,083 shares changing hands.

Analyst Upgrades and Downgrades

FLGT has been the topic of a number of recent research reports. Zacks Research lowered Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fulgent Genetics in a report on Thursday, January 22nd. Finally, Wall Street Zen cut Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Fulgent Genetics currently has an average rating of “Hold” and a consensus price target of $32.00.

Fulgent Genetics Stock Up 1.2%

The company’s fifty day moving average is $23.00 and its two-hundred day moving average is $24.33. The stock has a market cap of $466.90 million, a price-to-earnings ratio of -7.63 and a beta of 0.94.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Friday, February 27th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.02 by $0.14. Fulgent Genetics had a negative net margin of 18.75% and a negative return on equity of 2.22%. The company had revenue of $83.34 million during the quarter, compared to analysts’ expectations of $85.38 million. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. Sell-side analysts predict that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulgent Genetics

Several large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its stake in Fulgent Genetics by 2,984,354.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock valued at $39,985,000 after buying an additional 1,522,021 shares in the last quarter. RTW Investments LP acquired a new position in shares of Fulgent Genetics during the 4th quarter worth about $18,521,000. JPMorgan Chase & Co. boosted its position in shares of Fulgent Genetics by 767.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 299,014 shares of the company’s stock worth $6,758,000 after acquiring an additional 264,524 shares in the last quarter. Diametric Capital LP purchased a new position in shares of Fulgent Genetics in the 2nd quarter valued at about $3,359,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Fulgent Genetics by 89.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 348,533 shares of the company’s stock valued at $9,156,000 after acquiring an additional 164,535 shares during the last quarter. Hedge funds and other institutional investors 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.