Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) fell 6.7% during Monday’s midday session after Credit Suisse Group lowered its price target on the stock from 65, $00 to $50.00. Credit Suisse Group currently has an outperform rating for the stock. Fulgent Genetics traded as low as $36.21 and last traded at $36.61. Approximately 4,739 shares were traded during trading, a 99% decline from the average daily volume of 373,831 shares. The stock previously closed at $39.24.
FLGT has been the subject of several other research reports. StockNews.com launched coverage on Fulgent Genetics shares in a research report on Wednesday, October 12. They issued a “hold” rating on the stock. Piper Sandler lowered her price target on shares of Fulgent Genetics from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, TheStreet downgraded shares of Fulgent Genetics from a “b-” rating to a “c+” rating in a Thursday, July 28 research note. One investment analyst has assigned the stock a hold rating and three have assigned the company’s stock a buy rating. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.00.
Insider Buying and Selling at Fulgent Genetics
In other news from Fulgent Genetics, COO Jian Xie sold 675 shares in a trade dated Tuesday, August 30. The shares were sold at an average price of $44.18, for a total value of $29,821.50. Following the completion of the sale, the COO now owns 309,729 shares of the company, valued at approximately $13,683,827.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Chief Financial Officer Paul Kim sold 662 shares of the company in a trade that took place on Tuesday, September 6. The shares were sold at an average price of $41.39, for a total transaction of $27,400.18. Following the completion of the sale, the CFO now owns 149,507 shares of the company, valued at approximately $6,188,094.73. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, COO Jian Xie sold 675 shares of the company in a trade that took place on Tuesday, August 30. The stock was sold at an average price of $44.18, for a total transaction of $29,821.50. As a result of the sale, the chief operating officer now owns 309,729 shares of the company, valued at approximately $13,683,827.22. The disclosure of this sale can be found here. Insiders of the company hold 29.50% of the shares of the company.
Institutional entries and exits
Several institutional investors and hedge funds have recently bought and sold shares of FLGT. Park West Asset Management LLC increased its stake in Fulgent Genetics by 152.0% in the second quarter. Park West Asset Management LLC now owns 629,882 shares of the company worth $34,347,000 after purchasing an additional 379,882 shares during the period. Aaron Wealth Advisors LLC increased its stake in Fulgent Genetics to 7,094.9% in Q1. Aaron Wealth Advisors LLC now owns 324,344 shares of the company worth $5,197,000 after purchasing an additional 319,836 shares during the period. Dimensional Fund Advisors LP increased its holdings in Fulgent Genetics by 73.5% in Q3. Dimensional Fund Advisors LP now owns 680,822 shares of the company worth $25,954,000 after purchasing an additional 288,308 shares during the period. Point72 Asset Management LP increased its holdings in Fulgent Genetics by 254.2% in Q2. Point72 Asset Management LP now owns 227,237 shares of the company worth $12,391,000 after purchasing an additional 163,083 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Fulgent Genetics by 33.9% in the 3rd quarter. Pacer Advisors Inc. now owns 487,208 shares of the company worth $18,572,000 after purchasing an additional 123,265 shares during the period. 43.22% of the shares are held by institutional investors.
Fulgent Genetics is trading down 6.1%
The company’s fifty-day moving average is $38.98 and its 200-day moving average is $48.62. The company has a market capitalization of $1.08 billion, a P/E ratio of 4.51 and a beta of 1.54.
Fulgent Genetics (NASDAQ:FLGT – Get Rating) last announced its quarterly results on Monday, November 7. The company reported EPS of $0.11 for the quarter, beating the consensus estimate of ($0.02) by $0.13. Fulgent Genetics had a net margin of 33.82% and a return on equity of 22.10%. The company posted revenue of $105.66 million in the quarter, versus a consensus estimate of $103.70 million. Equity research analysts expect Fulgent Genetics, Inc. to post EPS of 5.26 for the current year.
About Fulgent Genetics
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Fulgent Genetics, Inc, together with its subsidiaries, provides COVID-19 molecular diagnostic and genetic testing services to physicians and patients in the United States and around the world. The company offers genetic testing including Focus and Comprehensive oncology panel testing; Beacon carrier screening panels test for inherited conditions; molecular profiling of solid tumors for somatic cancer screening; rapid whole genome tests for children in NICU and PICU; newborn genetic analysis panel; first-line single test to detect ataxia-related variants and repeat expansions by sequencing; image genetics, a patient-initiated genetic test; whole exome and clinical exome panel testing; whole genome, mutation and repeat expansion testing services, and research service testing.
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