Fulgent Genetics (NASDAQ:FLGT) Sets New 52-Week Low at $20.66

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as $20.66 and last traded at $21.04, with a volume of 37731 shares traded. The stock had previously closed at $21.16.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price target on shares of Fulgent Genetics from $28.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 6th.

Fulgent Genetics Stock Performance

The firm has a market cap of $629.99 million, a P/E ratio of -3.75 and a beta of 1.43. The firm has a 50 day simple moving average of $23.30 and a 200 day simple moving average of $25.66.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.63) by $0.61. The firm had revenue of $70.51 million for the quarter, compared to the consensus estimate of $67.14 million. Fulgent Genetics had a negative net margin of 58.03% and a negative return on equity of 3.04%. Sell-side analysts predict that Fulgent Genetics, Inc. will post -2.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Fulgent Genetics

Several large investors have recently added to or reduced their stakes in FLGT. Covington Capital Management lifted its position in Fulgent Genetics by 133.3% during the third quarter. Covington Capital Management now owns 700 shares of the company's stock valued at $27,000 after purchasing an additional 400 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Fulgent Genetics by 416.8% in the first quarter. Geneos Wealth Management Inc. now owns 491 shares of the company's stock worth $30,000 after acquiring an additional 396 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in Fulgent Genetics in the third quarter valued at $34,000. Covestor Ltd raised its position in Fulgent Genetics by 48.0% during the third quarter. Covestor Ltd now owns 1,508 shares of the company's stock valued at $40,000 after purchasing an additional 489 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Fulgent Genetics during the fourth quarter worth about $46,000. Institutional investors own 48.06% of the company's stock.

About Fulgent Genetics

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.