Fulgent Genetics (NASDAQ:FLGT) Rating Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Separately, Piper Sandler lowered their target price on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th.

Fulgent Genetics Trading Up 1.3 %

FLGT opened at $18.30 on Wednesday. The firm has a market cap of $559.74 million, a price-to-earnings ratio of -3.32 and a beta of 1.51. The stock has a fifty day moving average price of $19.79 and a 200-day moving average price of $21.10. Fulgent Genetics has a 12 month low of $16.56 and a 12 month high of $30.68.

Insider Buying and Selling

In other news, CEO Ming Hsieh sold 2,227 shares of Fulgent Genetics stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $18.26, for a total value of $40,665.02. Following the transaction, the chief executive officer now directly owns 703,711 shares of the company’s stock, valued at $12,849,762.86. The trade was a 0.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 3,413 shares of company stock worth $62,321. 31.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fulgent Genetics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Asset Dedication LLC acquired a new stake in Fulgent Genetics during the second quarter worth about $33,000. nVerses Capital LLC acquired a new stake in shares of Fulgent Genetics during the second quarter valued at approximately $43,000. Signaturefd LLC grew its position in Fulgent Genetics by 103.6% during the second quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock valued at $44,000 after purchasing an additional 1,132 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Fulgent Genetics in the third quarter valued at approximately $46,000. Finally, Canada Pension Plan Investment Board acquired a new position in Fulgent Genetics during the second quarter valued at approximately $63,000. 48.06% of the stock is currently owned by hedge funds and other 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.