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

Fulgent Genetics (NASDAQ:FLGT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Separately, Piper Sandler lowered their price target on shares of Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday.

Fulgent Genetics Stock Up 7.5 %

Shares of FLGT opened at $17.90 on Wednesday. Fulgent Genetics has a 52-week low of $14.57 and a 52-week high of $25.11. The stock has a market cap of $547.51 million, a PE ratio of -3.24 and a beta of 1.39. The firm’s fifty day moving average is $17.14 and its two-hundred day moving average is $19.29.

Insider Buying and Selling

In other news, CFO Paul Kim bought 100,000 shares of Fulgent Genetics stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $15.96 per share, with a total value of $1,596,000.00. Following the completion of the purchase, the chief financial officer now directly owns 348,282 shares of the company’s stock, valued at approximately $5,558,580.72. This trade represents a 40.28 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.76% of the stock is currently owned by company insiders.

Institutional Trading of Fulgent Genetics

A number of hedge funds and other institutional investors have recently made changes to their positions in FLGT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Fulgent Genetics by 13.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,654 shares of the company’s stock valued at $936,000 after buying an additional 5,986 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of Fulgent Genetics by 178.3% during the 4th quarter. Squarepoint Ops LLC now owns 41,608 shares of the company’s stock worth $768,000 after purchasing an additional 26,659 shares during the period. Two Sigma Advisers LP boosted its position in shares of Fulgent Genetics by 29.7% during the 4th quarter. Two Sigma Advisers LP now owns 83,000 shares of the company’s stock worth $1,533,000 after purchasing an additional 19,000 shares during the period. State of Wyoming acquired a new stake in Fulgent Genetics in the 4th quarter valued at approximately $57,000. Finally, Quantinno Capital Management LP acquired a new position in Fulgent Genetics during the fourth quarter worth $242,000. Institutional investors and hedge funds 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.