Piper Sandler Has Lowered Expectations for Fulgent Genetics (NASDAQ:FLGT) Stock Price

Fulgent Genetics (NASDAQ:FLGT) had its price target cut by research analysts at Piper Sandler from $22.00 to $16.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential upside of 7.31% from the stock’s previous close.

Separately, StockNews.com cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

Fulgent Genetics Trading Down 2.4 %

Shares of Fulgent Genetics stock traded down $0.37 during trading hours on Tuesday, hitting $14.91. 128,156 shares of the company were exchanged, compared to its average volume of 194,905. The business has a 50-day moving average of $17.25 and a 200-day moving average of $19.38. Fulgent Genetics has a 1 year low of $14.60 and a 1 year high of $25.11. The stock has a market capitalization of $456.05 million, a price-to-earnings ratio of -2.70 and a beta of 1.39.

Institutional Trading of Fulgent Genetics

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Fulgent Genetics by 45.5% in the fourth quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock valued at $39,000 after purchasing an additional 667 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Fulgent Genetics in the 3rd quarter valued at about $46,000. Russell Investments Group Ltd. lifted its holdings in Fulgent Genetics by 267.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company’s stock valued at $50,000 after purchasing an additional 1,960 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Fulgent Genetics during the fourth quarter worth about $57,000. Finally, State of Wyoming acquired a new position in shares of Fulgent Genetics in the fourth quarter valued at approximately $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.