Fulgent Genetics (NASDAQ:FLGT) Given New $16.00 Price Target at Piper Sandler

Fulgent Genetics (NASDAQ:FLGT) had its price target cut by Piper Sandler from $22.00 to $16.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Separately, StockNews.com downgraded Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

Fulgent Genetics Stock Performance

Shares of NASDAQ FLGT opened at $15.52 on Tuesday. The firm has a market capitalization of $474.71 million, a P/E ratio of -2.81 and a beta of 1.39. Fulgent Genetics has a one year low of $14.57 and a one year high of $25.11. The company’s fifty day moving average is $17.19 and its two-hundred day moving average is $19.32.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FLGT. GAMMA Investing LLC increased its stake in shares of Fulgent Genetics by 45.5% during the 4th quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock valued at $39,000 after acquiring an additional 667 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Fulgent Genetics during the 3rd quarter worth about $46,000. Russell Investments Group Ltd. grew its holdings in shares of Fulgent Genetics by 267.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company’s stock worth $50,000 after purchasing an additional 1,960 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Fulgent Genetics during the 4th quarter worth about $57,000. Finally, State of Wyoming purchased a new stake in shares of Fulgent Genetics during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

About Fulgent Genetics

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.