Fulgent Genetics (NASDAQ:FLGT) Sets New 52-Week Low at $20.32

Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) hit a new 52-week low on Wednesday . The company traded as low as $20.32 and last traded at $20.37, with a volume of 83945 shares trading hands. The stock had previously closed at $20.72.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their price objective on Fulgent Genetics from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th.

Fulgent Genetics Price Performance

The company has a market capitalization of $609.96 million, a P/E ratio of -3.67 and a beta of 1.43. The company has a fifty day simple moving average of $22.97 and a two-hundred day simple moving average of $25.47.

Fulgent Genetics (NASDAQ:FLGT) last posted its earnings results on Wednesday, February 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.61. Fulgent Genetics had a negative net margin of 58.03% and a negative return on equity of 3.04%. The business had revenue of $70.51 million for the quarter, compared to analyst estimates of $67.14 million. Equities analysts anticipate that Fulgent Genetics, Inc. will post -2.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Invesco Ltd. lifted its stake in shares of Fulgent Genetics by 150.3% in the third quarter. Invesco Ltd. now owns 312,627 shares of the company’s stock valued at $8,360,000 after buying an additional 187,717 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Fulgent Genetics by 82.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 413,457 shares of the company’s stock worth $15,310,000 after acquiring an additional 187,404 shares during the period. Norges Bank acquired a new stake in shares of Fulgent Genetics during the 4th quarter worth approximately $5,103,000. BlackRock Inc. increased its position in shares of Fulgent Genetics by 4.5% during the third quarter. BlackRock Inc. now owns 3,484,339 shares of the company’s stock valued at $132,825,000 after purchasing an additional 149,014 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of Fulgent Genetics by 6,204.7% during the fourth quarter. Point72 Asset Management L.P. now owns 151,313 shares of the company’s stock valued at $4,374,000 after purchasing an additional 148,913 shares during the period. 48.06% of the stock is currently owned by institutional investors and hedge funds.

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.