Fulgent Genetics (NASDAQ:FLGT) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a strong sell rating to a sell rating in a report released on Saturday.

Several other brokerages also recently weighed in on FLGT. Piper Sandler upped their target price on shares of Fulgent Genetics from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Weiss Ratings raised shares of Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.50.

Fulgent Genetics Stock Performance

FLGT stock opened at $19.61 on Friday. The firm has a market cap of $539.47 million, a P/E ratio of -6.95 and a beta of 0.90. Fulgent Genetics has a 1 year low of $13.46 and a 1 year high of $31.04. The stock has a 50-day simple moving average of $19.63 and a 200-day simple moving average of $18.15.

Fulgent Genetics (NASDAQ:FLGT) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.12). Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%.The company had revenue of $85.39 million for the quarter, compared to analyst estimates of $94.00 million. Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. On average, equities research analysts predict that Fulgent Genetics will post -3.48 EPS for the current year.

Insider Buying and Selling

In other Fulgent Genetics news, COO Jian Xie sold 2,146 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $38,391.94. Following the transaction, the chief operating officer directly owned 367,605 shares of the company’s stock, valued at $6,576,453.45. This represents a 0.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hanlin Gao sold 1,688 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $30,198.32. Following the transaction, the insider owned 990,374 shares of the company’s stock, valued at approximately $17,717,790.86. This trade represents a 0.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 5,966 shares of company stock valued at $111,038. 36.18% of the stock is owned by insiders.

Institutional Trading of Fulgent Genetics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP bought a new position in Fulgent Genetics during the 2nd quarter valued at $25,000. Farther Finance Advisors LLC increased its position in shares of Fulgent Genetics by 69.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock worth $35,000 after purchasing an additional 548 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Fulgent Genetics in the 4th quarter worth about $35,000. Legal & General Group Plc acquired a new stake in shares of Fulgent Genetics in the 2nd quarter valued at about $38,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Fulgent Genetics by 214.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock valued at $48,000 after purchasing an additional 1,251 shares in the last quarter. Institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.