Wall Street Zen Downgrades Fulgent Genetics (NASDAQ:FLGT) to Strong Sell

Key Points

• Wall Street Zen downgraded Fulgent Genetics from “sell” to “strong sell,” while broader analyst coverage remains mixed with a consensus “hold” rating and a $27.50 target price.
• Fulgent’s latest quarterly results missed expectations, with an EPS loss of $0.58 versus the $0.46 expected and revenue of $85.39 million compared with the $94 million consensus estimate.
• The stock opened at $19.14, near its 50-day and 200-day moving averages, and remains well below its 52-week high of $31.04; insiders have sold 5,980 shares over the past 90 days, though some institutional investors increased their holdings.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued to investors on Saturday.

A number of other research firms have also recently issued reports on FLGT. Weiss Ratings reiterated a "sell (e+)" rating on shares of Fulgent Genetics in a report on Monday, July 6th. Piper Sandler raised their price objective on Fulgent Genetics from $15.00 to $19.00 and gave the company a "neutral" rating in a report on Tuesday. One analyst has 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 presently has an average rating of "Hold" and a consensus target price of $27.50.

Fulgent Genetics Price Performance

Shares of NASDAQ:FLGT opened at $19.14 on Friday. The company's fifty day moving average price is $19.37 and its 200-day moving average price is $18.90. The firm has a market capitalization of $526.54 million, a price-to-earnings ratio of -6.79 and a beta of 0.90. Fulgent Genetics has a one year low of $13.46 and a one year high of $31.04.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.12). Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%.The company had revenue of $85.39 million for the quarter, compared to the consensus estimate of $94.00 million. Fulgent Genetics has set its FY 2026 guidance at -2.350--2.220 EPS. As a group, equities research analysts expect that Fulgent Genetics will post -2.81 EPS for the current year.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, COO Jian Xie sold 2,146 shares of the business'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 $38,391.94. Following the completion of the sale, the chief operating officer directly owned 367,605 shares of the company's stock, valued at $6,576,453.45. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hanlin Gao sold 1,688 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $30,198.32. Following the sale, the insider owned 990,374 shares of the company's stock, valued at approximately $17,717,790.86. The trade was a 0.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 5,980 shares of company stock worth $106,360. 36.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its position in shares of Fulgent Genetics by 69.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company's stock worth $35,000 after purchasing an additional 548 shares during the period. Federated Hermes Inc. increased its position in shares of Fulgent Genetics by 1.2% during the fourth quarter. Federated Hermes Inc. now owns 47,102 shares of the company's stock valued at $1,237,000 after buying an additional 552 shares during the period. Rhumbline Advisers increased its position in shares of Fulgent Genetics by 2.4% during the second quarter. Rhumbline Advisers now owns 33,139 shares of the company's stock valued at $659,000 after buying an additional 785 shares during the period. Swiss National Bank raised its stake in Fulgent Genetics by 3.2% in the fourth quarter. Swiss National Bank now owns 39,200 shares of the company's stock worth $1,030,000 after buying an additional 1,200 shares in the last quarter. Finally, Peapod Lane Capital LLC raised its stake in Fulgent Genetics by 0.7% in the fourth quarter. Peapod Lane Capital LLC now owns 165,781 shares of the company's stock worth $4,355,000 after buying an additional 1,202 shares in the last quarter. Hedge funds and other institutional investors own 48.06% of the company's stock.

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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