Fulgent Genetics (NASDAQ:FLGT) Rating Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a hold rating to a sell rating in a research note published on Wednesday.

Separately, Piper Sandler lowered their target price on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, November 11th.

Fulgent Genetics Stock Up 1.0 %

Shares of NASDAQ:FLGT opened at $18.07 on Wednesday. The stock has a market cap of $552.76 million, a PE ratio of -3.27 and a beta of 1.51. The company’s fifty day moving average is $19.96 and its 200 day moving average is $21.16. Fulgent Genetics has a 52 week low of $16.56 and a 52 week high of $30.68.

Insider Buying and Selling

In related news, CEO Ming Hsieh sold 2,227 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $18.26, for a total value of $40,665.02. Following the sale, the chief executive officer now directly owns 703,711 shares of the company’s stock, valued at $12,849,762.86. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 3,413 shares of company stock valued at $62,321 over the last three months. 32.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fulgent Genetics

Large investors have recently made changes to their positions in the business. Caxton Associates LP bought a new position in shares of Fulgent Genetics during the second quarter valued at approximately $492,000. Divisadero Street Capital Management LP raised its holdings in Fulgent Genetics by 46.4% in the 2nd quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock worth $9,912,000 after purchasing an additional 160,212 shares in the last quarter. Algert Global LLC lifted its position in shares of Fulgent Genetics by 46.1% in the 2nd quarter. Algert Global LLC now owns 81,440 shares of the company’s stock worth $1,598,000 after purchasing an additional 25,680 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Fulgent Genetics by 593.5% during the 2nd quarter. Acadian Asset Management LLC now owns 62,724 shares of the company’s stock valued at $1,227,000 after purchasing an additional 53,680 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Fulgent Genetics during the first quarter valued at about $178,000. 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.