Piper Sandler Lowers Fulgent Genetics (NASDAQ:FLGT) Price Target to $16.00

Fulgent Genetics (NASDAQ:FLGT) had its target price cut by Piper Sandler from $22.00 to $16.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Separately, StockNews.com downgraded shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

Fulgent Genetics Stock Performance

NASDAQ FLGT opened at $17.90 on Tuesday. Fulgent Genetics has a 1 year low of $14.57 and a 1 year high of $25.11. The business’s fifty day moving average is $17.14 and its two-hundred day moving average is $19.29. The stock has a market capitalization of $547.51 million, a P/E ratio of -3.24 and a beta of 1.39.

Insider Buying and Selling

In other news, CFO Paul Kim acquired 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the acquisition, the chief financial officer now owns 348,282 shares of the company’s stock, valued at approximately $5,558,580.72. This represents a 40.28 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 31.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fulgent Genetics

A number of large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Fulgent Genetics by 13.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,654 shares of the company’s stock valued at $936,000 after buying an additional 5,986 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Fulgent Genetics by 178.3% during the 4th quarter. Squarepoint Ops LLC now owns 41,608 shares of the company’s stock valued at $768,000 after acquiring an additional 26,659 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Fulgent Genetics by 29.7% in the 4th quarter. Two Sigma Advisers LP now owns 83,000 shares of the company’s stock valued at $1,533,000 after acquiring an additional 19,000 shares in the last quarter. State of Wyoming acquired a new stake in Fulgent Genetics in the 4th quarter worth approximately $57,000. Finally, Quantinno Capital Management LP bought a new stake in Fulgent Genetics during the fourth quarter worth approximately $242,000. 48.06% of the stock is currently owned by institutional investors.

About Fulgent Genetics

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.