Wall Street Zen Downgrades Fulgent Genetics (NASDAQ:FLGT) to Strong Sell

Fulgent Genetics (NASDAQ:FLGT) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

Several other analysts also recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Fulgent Genetics in a report on Monday, July 6th. Piper Sandler raised their target price on shares of Fulgent Genetics from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fulgent Genetics currently has a consensus rating of “Hold” and an average target price of $27.50.

Fulgent Genetics Price Performance

FLGT opened at $19.14 on Friday. The firm has a market cap of $526.54 million, a PE ratio of -6.79 and a beta of 0.91. The business has a fifty day simple moving average of $19.37 and a 200-day simple moving average of $18.84. Fulgent Genetics has a fifty-two week low of $13.46 and a fifty-two week high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last announced its 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, equities research analysts anticipate that Fulgent Genetics will post -2.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jian Xie sold 2,146 shares of Fulgent Genetics stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $38,391.94. Following the transaction, the chief operating officer owned 367,605 shares in the company, valued at approximately $6,576,453.45. The trade was a 0.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 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 $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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,980 shares of company stock valued at $106,360 in the last 90 days. Corporate insiders own 36.18% of the company’s stock.

Institutional Investors Weigh In On Fulgent Genetics

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Fulgent Genetics during the 2nd quarter worth about $46,922,000. Deutsche Bank AG purchased a new stake in shares of Fulgent Genetics in the second quarter worth approximately $558,000. Persistent Asset Partners Ltd purchased a new stake in shares of Fulgent Genetics in the second quarter worth approximately $488,000. Bank of New York Mellon Corp acquired a new stake in shares of Fulgent Genetics during the second quarter worth approximately $1,552,000. Finally, Marquette Asset Management LLC purchased a new position in Fulgent Genetics during the second quarter valued at approximately $621,000. 48.06% of the stock is currently owned by institutional investors and hedge funds.

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.