Fulgent Genetics (NASDAQ:FLGT) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a sell rating to a hold rating in a research note released on Tuesday morning.

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

Fulgent Genetics Stock Performance

Fulgent Genetics stock opened at $17.05 on Tuesday. The stock has a market cap of $521.36 million, a P/E ratio of -3.09 and a beta of 1.51. Fulgent Genetics has a fifty-two week low of $16.56 and a fifty-two week high of $30.68. The firm’s fifty day moving average price is $20.31 and its 200-day moving average price is $21.26.

Insider Buying and Selling at Fulgent Genetics

In other news, CEO Ming Hsieh sold 2,313 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $22.83, for a total transaction of $52,805.79. Following the completion of the sale, the chief executive officer now directly owns 707,275 shares in the company, valued at approximately $16,147,088.25. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 4,324 shares of company stock worth $98,717 over the last three months. Company insiders own 31.76% of the company’s stock.

Institutional Trading of Fulgent Genetics

A number of institutional investors have recently modified their holdings of FLGT. BNP Paribas Financial Markets boosted its holdings in shares of Fulgent Genetics by 43.0% during the first quarter. BNP Paribas Financial Markets now owns 16,779 shares of the company’s stock worth $364,000 after purchasing an additional 5,043 shares during the period. State Board of Administration of Florida Retirement System bought a new position in Fulgent Genetics in the first quarter worth about $178,000. Vanguard Group Inc. raised its stake in Fulgent Genetics by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,424,448 shares of the company’s stock worth $30,911,000 after buying an additional 8,257 shares in the last quarter. Acadian Asset Management LLC bought a new position in Fulgent Genetics in the first quarter worth about $195,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in Fulgent Genetics by 11.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 29,103 shares of the company’s stock worth $631,000 after buying an additional 2,879 shares in the last quarter. 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.