Fulgent Genetics, Inc. (NASDAQ:FLGT) Given Consensus Recommendation of “Hold” by Analysts

Fulgent Genetics, Inc. (NASDAQ:FLGT) has received an average recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $27.00.

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Fulgent Genetics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Piper Sandler restated a “neutral” rating and set a $15.00 target price (down from $30.00) on shares of Fulgent Genetics in a research note on Tuesday, May 5th.

Fulgent Genetics Stock Down 0.8%

Shares of FLGT opened at $18.78 on Friday. The company has a market cap of $533.35 million, a price-to-earnings ratio of -7.86 and a beta of 0.94. Fulgent Genetics has a twelve month low of $13.46 and a twelve month high of $31.04. The company has a 50 day moving average of $16.59 and a two-hundred day moving average of $21.22.

Insider Activity

In other Fulgent Genetics news, COO Jian Xie sold 2,146 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was 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 owned 367,605 shares of the company’s stock, valued at approximately $6,576,453.45. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $30,198.32. Following the sale, the insider owned 990,374 shares in the company, valued at $17,717,790.86. The trade was a 0.17% decrease in their position. 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 three months, insiders sold 5,980 shares of company stock valued at $106,360. Corporate insiders own 36.18% of the company’s stock.

Institutional Trading of Fulgent Genetics

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

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.