Fulgent Genetics (NASDAQ:FLGT) Downgraded by StockNews.com to “Sell”

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

Separately, Piper Sandler lowered their target price on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock opened at $17.79 on Monday. The business has a 50-day moving average price of $20.85 and a 200 day moving average price of $21.42. Fulgent Genetics has a fifty-two week low of $17.65 and a fifty-two week high of $30.68.

Insiders Place Their Bets

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,313 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $22.83, for a total transaction of $52,805.79. Following the sale, the chief executive officer now directly owns 707,275 shares in the company, valued at approximately $16,147,088.25. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 4,324 shares of company stock worth $98,717. 31.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fulgent Genetics

A number of institutional investors have recently added to or reduced their stakes in FLGT. Asset Dedication LLC bought a new stake in shares of Fulgent Genetics in the 2nd quarter worth $33,000. nVerses Capital LLC bought a new position in shares of Fulgent Genetics during the 2nd quarter valued at about $43,000. Signaturefd LLC boosted its position in shares of Fulgent Genetics by 103.6% during the 2nd 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. Canada Pension Plan Investment Board bought a new stake in shares of Fulgent Genetics in the 2nd quarter worth approximately $63,000. Finally, Gladius Capital Management LP bought a new stake in shares of Fulgent Genetics in the 3rd quarter worth approximately $81,000. 48.06% of the stock is currently owned by institutional investors and hedge funds.

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.