Fulgent Genetics (NASDAQ:FLGT – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
A number of other equities research analysts have also commented on the stock. Weiss Ratings raised shares of Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Piper Sandler boosted their target price on shares of Fulgent Genetics from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Fulgent Genetics presently has an average rating of “Hold” and a consensus price target of $27.50.
Get Our Latest Stock Analysis on Fulgent Genetics
Fulgent Genetics Stock Performance
Fulgent Genetics (NASDAQ:FLGT – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during 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, analysts predict that Fulgent Genetics will post -3.48 earnings per share for the current year.
Insider Buying and Selling at Fulgent Genetics
In other news, insider Hanlin Gao sold 1,688 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $30,198.32. Following the completion of the sale, the insider owned 990,374 shares in the company, valued at $17,717,790.86. The trade was a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of the business’s stock in a transaction 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 sale, the chief operating officer owned 367,605 shares of the company’s stock, valued at approximately $6,576,453.45. The trade was a 0.58% decrease in their position. 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. Insiders sold a total of 5,966 shares of company stock valued at $111,038 over the last three months. Insiders own 36.18% of the company’s stock.
Institutional Trading of Fulgent Genetics
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Fulgent Genetics during the 2nd quarter worth $46,922,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Fulgent Genetics by 2,984,354.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock valued at $39,985,000 after purchasing an additional 1,522,021 shares during the period. RTW Investments LP acquired a new position in shares of Fulgent Genetics in the 4th quarter valued at $18,521,000. JPMorgan Chase & Co. boosted its position in shares of Fulgent Genetics by 767.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 299,014 shares of the company’s stock worth $6,758,000 after purchasing an additional 264,524 shares during the last quarter. Finally, Medina Value Partners LLC bought a new position in shares of Fulgent Genetics in the 2nd quarter worth $3,961,612. 48.06% of the stock is owned by institutional investors.
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.
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