Fulgent Genetics, Inc. (NASDAQ:FLGT) Given Average Rating of “Hold” by Analysts

Fulgent Genetics, Inc. (NASDAQ:FLGT) has been given an average recommendation of “Hold” by the five brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $27.00.

Several equities analysts have recently commented on FLGT shares. Wall Street Zen upgraded shares of Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. Piper Sandler restated a “neutral” rating and issued a $15.00 target price (down from $30.00) on shares of Fulgent Genetics in a research report on Tuesday, May 5th.

Fulgent Genetics Trading Down 2.0%

Shares of NASDAQ:FLGT opened at $17.99 on Friday. The firm has a 50 day moving average of $16.69 and a 200-day moving average of $20.96. The stock has a market capitalization of $510.92 million, a PE ratio of -7.53 and a beta of 0.94. Fulgent Genetics has a 12 month low of $13.46 and a 12 month high of $31.04.

Insider Activity at Fulgent Genetics

In related news, COO Jian Xie sold 2,146 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $38,391.94. Following the sale, the chief operating officer directly owned 367,605 shares of the company’s stock, valued at approximately $6,576,453.45. The trade was a 0.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 Fulgent Genetics stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $30,198.32. Following the sale, the insider directly owned 990,374 shares in the company, valued at $17,717,790.86. This trade represents a 0.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 5,980 shares of company stock valued at $106,360 over the last 90 days. Corporate insiders own 36.18% of the company’s stock.

Institutional Investors Weigh In On Fulgent Genetics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi grew its holdings in shares of Fulgent Genetics by 17.1% during the 1st quarter. Amundi now owns 41,596 shares of the company’s stock valued at $661,000 after purchasing an additional 6,072 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Fulgent Genetics by 374.7% during the 1st quarter. Quantinno Capital Management LP now owns 137,479 shares of the company’s stock valued at $2,186,000 after purchasing an additional 108,519 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Fulgent Genetics by 3,217.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 33,739 shares of the company’s stock valued at $536,000 after purchasing an additional 32,722 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Fulgent Genetics during the 1st quarter valued at approximately $687,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Fulgent Genetics by 25.2% during the 1st quarter. Hsbc Holdings PLC now owns 65,174 shares of the company’s stock valued at $1,031,000 after purchasing an additional 13,118 shares during the last quarter. 48.06% of the stock is owned by institutional investors.

Fulgent Genetics Company Profile

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.