StockNews.com Downgrades Fulgent Genetics (NASDAQ:FLGT) to Sell

StockNews.com lowered shares of Fulgent Genetics (NASDAQ:FLGT) from a hold rating to a sell rating in a research note issued to investors on Monday.

Separately, Piper Sandler lowered their price objective on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday.

Fulgent Genetics Stock Down 3.4 %

Shares of NASDAQ:FLGT opened at $17.79 on Monday. The business has a fifty day simple moving average of $20.85 and a 200-day simple moving average of $21.42. Fulgent Genetics has a 52 week low of $17.65 and a 52 week high of $30.68.

Insider Buying and Selling at Fulgent Genetics

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

Institutional Investors Weigh In On Fulgent Genetics

A number of large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Fulgent Genetics by 98.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,792 shares of the company’s stock worth $1,883,000 after acquiring an additional 42,998 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Fulgent Genetics by 43.0% in the first quarter. BNP Paribas Financial Markets now owns 16,779 shares of the company’s stock valued at $364,000 after purchasing an additional 5,043 shares during the period. Quantbot Technologies LP grew its holdings in Fulgent Genetics by 165.0% during the 1st quarter. Quantbot Technologies LP now owns 16,071 shares of the company’s stock valued at $349,000 after purchasing an additional 10,007 shares in the last quarter. Empowered Funds LLC increased its stake in Fulgent Genetics by 8.1% during the 1st quarter. Empowered Funds LLC now owns 109,167 shares of the company’s stock worth $2,369,000 after buying an additional 8,225 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Fulgent Genetics in the 1st quarter worth $213,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

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.