Fulgent Genetics (NASDAQ:FLGT) Upgraded at Wall Street Zen

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also recently issued reports on FLGT. Weiss Ratings upgraded shares of Fulgent Genetics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday. Piper Sandler increased their price target on shares of Fulgent Genetics from $15.00 to $19.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 4th. One investment 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $27.50.

Fulgent Genetics Price Performance

Shares of FLGT stock opened at $19.61 on Friday. Fulgent Genetics has a fifty-two week low of $13.46 and a fifty-two week high of $31.04. The stock's 50-day moving average is $19.63 and its two-hundred day moving average is $18.15. The firm has a market cap of $539.47 million, a P/E ratio of -6.95 and a beta of 0.90.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.12). The firm had revenue of $85.39 million for the quarter, compared to analyst estimates of $94.00 million. Fulgent Genetics had a negative net margin of 26.05% and a negative return on equity of 4.93%. Fulgent Genetics has set its FY 2026 guidance at -2.350--2.220 EPS. As a group, research analysts expect that Fulgent Genetics will post -3.48 EPS for the current year.

Insiders Place Their Bets

In related news, insider Hanlin Gao sold 1,688 shares of the firm'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 approximately $17,717,790.86. This trade represents a 0.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 completion of the transaction, the chief operating officer owned 367,605 shares in the company, valued at $6,576,453.45. This trade represents a 0.58% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,966 shares of company stock valued at $111,038 over the last 90 days. 36.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fulgent Genetics

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Fulgent Genetics in the second quarter worth about $46,922,000. Northwestern Mutual Wealth Management Co. boosted its stake in Fulgent Genetics by 2,984,354.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company's stock valued at $39,985,000 after purchasing an additional 1,522,021 shares during the period. Millennium Management LLC boosted its stake in Fulgent Genetics by 1.8% during the 3rd quarter. Millennium Management LLC now owns 1,468,844 shares of the company's stock valued at $33,196,000 after purchasing an additional 26,582 shares during the period. Vanguard Group Inc. grew its holdings in Fulgent Genetics by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,179,254 shares of the company's stock valued at $26,651,000 after buying an additional 13,295 shares during the last quarter. Finally, RTW Investments LP acquired a new stake in Fulgent Genetics in the 4th quarter valued at approximately $18,521,000. 48.06% of the stock is currently owned by institutional investors.

Fulgent Genetics Company Profile

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.

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