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

Wall Street Zen cut shares of Fulgent Genetics (NASDAQ:FLGT) from a sell rating to a strong sell rating in a report published on Saturday.

Several other research firms have also weighed in on FLGT. Piper Sandler upped their price objective on shares of Fulgent Genetics from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fulgent Genetics in a report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fulgent Genetics presently has an average rating of “Hold” and a consensus target price of $27.50.

Fulgent Genetics Trading Down 0.4%

Shares of Fulgent Genetics stock opened at $19.06 on Friday. Fulgent Genetics has a 1 year low of $13.46 and a 1 year high of $31.04. The company has a market cap of $524.34 million, a P/E ratio of -6.76 and a beta of 0.91. The stock has a 50-day moving average price of $19.39 and a 200 day moving average price of $18.78.

Fulgent Genetics (NASDAQ:FLGT) last released its earnings results on Thursday, July 30th. The company reported ($0.58) earnings per share 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 net margin of 26.05% and a negative return on equity of 4.93%. Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. On average, equities analysts forecast that Fulgent Genetics will post -2.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Hanlin Gao sold 1,688 shares of Fulgent Genetics stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $30,198.32. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of Fulgent Genetics stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction 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 approximately $6,576,453.45. The trade was a 0.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,980 shares of company stock valued at $106,360 over the last quarter. Corporate insiders own 36.18% of the company’s stock.

Hedge Funds Weigh In On Fulgent Genetics

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Fulgent Genetics in the second quarter worth about $46,922,000. Deutsche Bank AG acquired a new position in shares of Fulgent Genetics during the 2nd quarter valued at about $558,000. Persistent Asset Partners Ltd bought a new position in shares of Fulgent Genetics in the 2nd quarter valued at approximately $488,000. Bank of New York Mellon Corp acquired a new stake in Fulgent Genetics in the 2nd quarter worth approximately $1,552,000. Finally, Marquette Asset Management LLC bought a new stake in Fulgent Genetics during the second quarter worth approximately $621,000. 48.06% of the stock is currently owned by institutional investors.

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.