Fulgent Genetics (NASDAQ:FLGT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a strong sell rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

FLGT has been the subject of a number of other research reports. Piper Sandler boosted their price target on shares of Fulgent Genetics from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $27.50.

Fulgent Genetics Stock Performance

Shares of FLGT stock opened at $19.37 on Friday. Fulgent Genetics has a 52-week low of $13.46 and a 52-week high of $31.04. The company has a market capitalization of $532.87 million, a PE ratio of -6.87 and a beta of 0.91. The business’s fifty day moving average is $19.66 and its 200 day moving average is $18.09.

Fulgent Genetics (NASDAQ:FLGT) last posted its earnings results on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.12). The business had revenue of $85.39 million for the quarter, compared to analysts’ expectations of $94.00 million. Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%.Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. On average, sell-side analysts forecast that Fulgent Genetics will post -3.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulgent Genetics

A number of large investors have recently modified their holdings of the company. Quantinno Capital Management LP grew its position in Fulgent Genetics by 374.7% during the first quarter. Quantinno Capital Management LP now owns 137,479 shares of the company’s stock valued at $2,186,000 after acquiring an additional 108,519 shares during the last quarter. Medina Value Partners LLC purchased a new position in shares of Fulgent Genetics during the second quarter worth approximately $3,961,612. Y Intercept Hong Kong Ltd bought a new stake in shares of Fulgent Genetics in the 1st quarter worth approximately $1,076,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Fulgent Genetics by 32.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 111,405 shares of the company’s stock worth $2,286,000 after acquiring an additional 27,395 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Fulgent Genetics in the 2nd quarter valued at $3,265,000. 48.06% of the stock is owned by hedge funds and other institutional investors.

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.