Fulgent Genetics (NASDAQ:FLGT) Stock Rating Upgraded by StockNews.com

Fulgent Genetics (NASDAQ:FLGT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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

Fulgent Genetics Stock Down 3.5 %

FLGT stock opened at $16.71 on Tuesday. Fulgent Genetics has a twelve month low of $16.61 and a twelve month high of $30.68. The company has a market cap of $511.11 million, a P/E ratio of -3.03 and a beta of 1.51. The business’s fifty day moving average is $20.68 and its 200-day moving average is $21.38.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,313 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $22.83, for a total value of $52,805.79. Following the completion of the sale, the chief executive officer now directly owns 707,275 shares in the company, valued at $16,147,088.25. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 4,324 shares of company stock valued at $98,717. Corporate insiders own 31.76% of the company’s stock.

Hedge Funds Weigh In On Fulgent Genetics

Institutional investors have recently modified their holdings of the business. Asset Dedication LLC acquired a new stake in Fulgent Genetics during the 2nd quarter worth approximately $33,000. nVerses Capital LLC acquired a new stake in shares of Fulgent Genetics during the second quarter worth $43,000. Signaturefd LLC raised its holdings in shares of Fulgent Genetics by 103.6% during the second quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock worth $44,000 after acquiring an additional 1,132 shares during the period. Point72 DIFC Ltd bought a new stake in Fulgent Genetics in the 3rd quarter valued at $46,000. Finally, Canada Pension Plan Investment Board acquired a new position in Fulgent Genetics in the 2nd quarter worth $63,000. Institutional investors own 48.06% of the company’s stock.

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.