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

Wall Street Zen upgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a hold rating to a buy rating in a research report report published on Saturday morning.

FLGT has been the topic of several other research reports. Raymond James Financial restated an “outperform” rating and issued a $36.00 price target on shares of Fulgent Genetics in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Fulgent Genetics in a research report on Wednesday, October 8th. Piper Sandler boosted their price objective on shares of Fulgent Genetics from $21.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Finally, UBS Group upgraded Fulgent Genetics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $20.00 to $30.00 in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Fulgent Genetics has an average rating of “Hold” and an average target price of $32.00.

Fulgent Genetics Stock Down 1.7%

NASDAQ FLGT traded down $0.49 during trading hours on Friday, hitting $29.10. The company had a trading volume of 439,503 shares, compared to its average volume of 330,827. The firm has a market cap of $899.54 million, a P/E ratio of -17.53 and a beta of 0.92. The business has a fifty day simple moving average of $23.34 and a 200-day simple moving average of $21.24. Fulgent Genetics has a fifty-two week low of $14.57 and a fifty-two week high of $30.59.

Fulgent Genetics (NASDAQ:FLGT) last posted its earnings results on Friday, November 7th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.36. The firm had revenue of $84.07 million during the quarter, compared to analysts’ expectations of $81.43 million. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. Equities analysts forecast that Fulgent Genetics will post -0.85 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Jian Xie sold 1,199 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $21.48, for a total transaction of $25,754.52. Following the completion of the transaction, the chief operating officer directly owned 365,249 shares of the company’s stock, valued at approximately $7,845,548.52. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 5,577 shares of company stock valued at $121,024 over the last three months. 31.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fulgent Genetics

A number of large investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd acquired a new stake in Fulgent Genetics in the 1st quarter valued at about $1,050,000. Federated Hermes Inc. boosted its holdings in Fulgent Genetics by 11.0% in the first quarter. Federated Hermes Inc. now owns 46,479 shares of the company’s stock valued at $785,000 after acquiring an additional 4,597 shares during the last quarter. GSA Capital Partners LLP increased its position in Fulgent Genetics by 442.1% in the first quarter. GSA Capital Partners LLP now owns 104,815 shares of the company’s stock worth $1,771,000 after purchasing an additional 85,481 shares during the period. XTX Topco Ltd bought a new position in shares of Fulgent Genetics in the 1st quarter valued at about $324,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Fulgent Genetics by 122.8% during the first quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company’s stock worth $60,000 after buying an additional 1,963 shares during the last quarter. 48.06% of the stock is currently owned by institutional investors.

Fulgent Genetics Company Profile

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.