Fulgent Genetics (NASDAQ:FLGT) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Fulgent Genetics (NASDAQ:FLGT) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Several other research firms also recently weighed in on FLGT. Raymond James Financial reissued an “outperform” rating and issued a $36.00 price target on shares of Fulgent Genetics in a research note on Friday, November 14th. Zacks Research downgraded Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Thursday, January 22nd. Finally, Piper Sandler increased their target price on Fulgent Genetics from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Two investment 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. Based on data from MarketBeat, Fulgent Genetics presently has a consensus rating of “Hold” and an average price target of $32.00.

Fulgent Genetics Stock Performance

FLGT stock opened at $14.88 on Friday. The company has a market capitalization of $464.70 million, a PE ratio of -7.59 and a beta of 0.94. Fulgent Genetics has a one year low of $13.46 and a one year high of $31.04. The company’s 50 day moving average price is $24.14 and its two-hundred day moving average price is $24.57.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. Fulgent Genetics had a negative net margin of 18.75% and a negative return on equity of 2.22%. The company had revenue of $83.34 million during the quarter, compared to analysts’ expectations of $85.38 million. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. On average, research analysts predict that Fulgent Genetics will post -0.85 EPS for the current year.

Institutional Investors Weigh In On Fulgent Genetics

Several institutional investors have recently added to or reduced their stakes in the company. Amundi increased its position in shares of Fulgent Genetics by 289.2% in the first quarter. Amundi now owns 34,316 shares of the company’s stock valued at $583,000 after acquiring an additional 25,500 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Fulgent Genetics by 28.7% during the first 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Fulgent Genetics by 22.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 305,180 shares of the company’s stock worth $6,067,000 after purchasing an additional 55,521 shares during the period. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Fulgent Genetics by 51.7% during the second quarter. Campbell & CO Investment Adviser LLC now owns 27,061 shares of the company’s stock worth $538,000 after purchasing an additional 9,217 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of Fulgent Genetics by 38.7% in the second quarter. Acadian Asset Management LLC now owns 1,117,917 shares of the company’s stock worth $22,208,000 after purchasing an additional 311,976 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.