Fulgent Genetics (NASDAQ:FLGT) Stock Passes Below Fifty Day Moving Average - Here's Why

Key Points

• Fulgent Genetics shares fell below their 50-day moving average on Friday, trading as low as $14.94 before last changing hands at $15.96. The stock’s 50-day average is $15.82, and it also remains well below its 200-day moving average of $22.66.
• Analyst sentiment has turned cautious, with Piper Sandler cutting its price target to $15 from $30 while keeping a neutral rating. Overall, the stock now carries a Hold consensus rating and a consensus target price of $27.00.
• In its latest quarterly results, Fulgent posted EPS of $0.16, beating expectations, though revenue of $83.34 million came in slightly below estimates. The company also reported negative profitability metrics and expects continued losses for the current fiscal year.

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $15.82 and traded as low as $14.94. Fulgent Genetics shares last traded at $15.96, with a volume of 754,530 shares.

Analyst Ratings Changes

FLGT has been the subject of several recent analyst reports. Piper Sandler reiterated a "neutral" rating and set a $15.00 price objective (down from $30.00) on shares of Fulgent Genetics in a research report on Tuesday. Wall Street Zen cut shares of Fulgent Genetics from a "sell" rating to a "strong sell" rating in a research report on Saturday. Zacks Research cut shares of Fulgent Genetics from a "strong-buy" rating to a "hold" rating in a report on Monday, February 9th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Fulgent Genetics in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $27.00.

Fulgent Genetics Price Performance

The firm has a market capitalization of $474.81 million, a price-to-earnings ratio of -6.68 and a beta of 0.88. The business's fifty day simple moving average is $15.82 and its 200 day simple moving average is $22.66.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its quarterly earnings results on Friday, February 27th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.14. The business had revenue of $83.34 million during the quarter, compared to analysts' expectations of $85.38 million. Fulgent Genetics had a negative net margin of 23.04% and a negative return on equity of 3.24%. Fulgent Genetics has set its FY 2026 guidance at -1.450--1.450 EPS. Equities research analysts expect that Fulgent Genetics, Inc. will post -2.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fulgent Genetics

Large investors have recently bought and sold shares of the stock. Amundi increased its position in shares of Fulgent Genetics by 289.2% during the first quarter. Amundi now owns 34,316 shares of the company's stock worth $583,000 after acquiring an additional 25,500 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Fulgent Genetics by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company's stock valued at $3,428,000 after acquiring an additional 45,279 shares in the last quarter. Legal & General Group Plc lifted its position in Fulgent Genetics by 14.1% in the 2nd quarter. Legal & General Group Plc now owns 21,025 shares of the company's stock valued at $418,000 after acquiring an additional 2,599 shares in the last quarter. Rhumbline Advisers boosted its stake in Fulgent Genetics by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 33,139 shares of the company's stock valued at $659,000 after purchasing an additional 785 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Fulgent Genetics by 8.0% during the 2nd quarter. American Century Companies Inc. now owns 52,168 shares of the company's stock worth $1,037,000 after purchasing an additional 3,860 shares in the last quarter. 48.06% of the stock is currently owned by institutional investors and hedge funds.

About Fulgent Genetics

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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