Fulgent Genetics (NASDAQ:FLGT) Earns "Sell (D-)" Rating from Weiss Ratings

Key Points

• Fulgent Genetics' stock has been reissued a "sell (D-)" rating by Weiss Ratings, indicating a negative outlook for the company.
• UBS Group recently upgraded Fulgent from a "neutral" to a "buy" rating with a target price increase from $20.00 to $30.00, conflicting with the sell rating.
• The company reported a 15.2% revenue increase year-over-year, totaling $81.80 million for the quarter, which surpassed consensus estimates.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report)'s stock had its "sell (d-)" rating reissued by Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently commented on FLGT. UBS Group raised Fulgent Genetics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $20.00 to $30.00 in a report on Tuesday, August 5th. Piper Sandler set a $21.00 price target on Fulgent Genetics and gave the company a "neutral" rating in a report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $25.33.

Fulgent Genetics Trading Up 0.9%

Fulgent Genetics stock opened at $22.83 on Wednesday. The business's fifty day simple moving average is $21.69 and its two-hundred day simple moving average is $20.01. Fulgent Genetics has a 12 month low of $14.57 and a 12 month high of $23.57. The company has a market capitalization of $698.83 million, a price-to-earnings ratio of -13.75 and a beta of 0.97.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.30. Fulgent Genetics had a negative return on equity of 2.26% and a negative net margin of 16.83%.The business had revenue of $81.80 million for the quarter, compared to the consensus estimate of $76.21 million. During the same period in the previous year, the company posted $0.15 earnings per share. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. On average, equities research analysts predict that Fulgent Genetics will post -0.85 EPS for the current year.

Insider Buying and Selling

In related news, COO Jian Xie sold 1,199 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $21.48, for a total transaction of $25,754.52. Following the completion of the sale, the chief operating officer owned 365,249 shares in the company, valued at approximately $7,845,548.52. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 5,577 shares of company stock worth $121,024 in the last three months. 31.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Fulgent Genetics

Several institutional investors have recently made changes to their positions in FLGT. GAMMA Investing LLC grew its position in shares of Fulgent Genetics by 3,387.8% during the first quarter. GAMMA Investing LLC now owns 74,394 shares of the company's stock worth $1,257,000 after purchasing an additional 72,261 shares in the last quarter. Peapod Lane Capital LLC grew its position in shares of Fulgent Genetics by 48.2% during the first quarter. Peapod Lane Capital LLC now owns 162,227 shares of the company's stock worth $2,742,000 after purchasing an additional 52,768 shares in the last quarter. Easterly Investment Partners LLC purchased a new stake in shares of Fulgent Genetics during the first quarter worth about $198,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Fulgent Genetics during the first quarter worth about $1,050,000. Finally, Federated Hermes Inc. grew its position in shares of Fulgent Genetics by 11.0% during the first quarter. Federated Hermes Inc. now owns 46,479 shares of the company's stock worth $785,000 after purchasing an additional 4,597 shares in the last quarter. Hedge funds and other institutional investors 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.

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