Fulgent Genetics (NASDAQ:FLGT) Lowered to Sell Rating by StockNews.com

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

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

Fulgent Genetics Trading Up 1.0 %

Shares of Fulgent Genetics stock opened at $18.07 on Wednesday. The company’s 50-day moving average price is $19.96 and its 200-day moving average price is $21.16. The company has a market cap of $552.76 million, a price-to-earnings ratio of -3.27 and a beta of 1.51. Fulgent Genetics has a 12-month low of $16.56 and a 12-month high of $30.68.

Insider Buying and Selling at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,227 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $18.26, for a total value of $40,665.02. Following the transaction, the chief executive officer now directly owns 703,711 shares in the company, valued at approximately $12,849,762.86. This 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 accessible through the SEC website. Insiders have sold a total of 3,413 shares of company stock valued at $62,321 in the last 90 days. Corporate insiders own 32.66% of the company’s stock.

Hedge Funds Weigh In On Fulgent Genetics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Asset Dedication LLC purchased a new stake in shares of Fulgent Genetics during the 2nd quarter valued at $33,000. nVerses Capital LLC bought a new position in Fulgent Genetics in the second quarter valued at $43,000. Signaturefd LLC raised its position in Fulgent Genetics by 103.6% during the second quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock valued at $44,000 after purchasing an additional 1,132 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Fulgent Genetics during the third quarter worth about $46,000. Finally, Canada Pension Plan Investment Board bought a new stake in Fulgent Genetics during the second quarter worth about $63,000. Hedge funds and other institutional investors 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.