Fulgent Genetics (NASDAQ:FLGT) stock price fell 6.7% after analyst downgrade

Fulgent Genetics logoFulgent Genetics, Inc. Stock (NASDAQ:FLGTget grade) fell 6.7% during midday trading Monday after Credit Suisse Group cut its price target on the shares from $65.00 to $50.00. Credit Suisse Group currently has an outperform rating on the stock. Fulgent Genetics traded as low as $36.21 and was last traded at $36.61. Approximately 4,739 shares were traded during trading, a 99% decrease from average daily volume of 373,831 shares. The stock had previously closed at $39.24.

FLGT has been the subject of several other research reports. stocknews.com began coverage of Fulgent Genetics stock in a research report on Wednesday, October 12. They issued a “hold” rating on the stock. Piper Sandler lowered the price target on Fulgent Genetics shares from $70.00 to $65.00 and set an “overweight” rating for the shares in a research report on Monday. Finally, TheStreet downgraded shares of Fulgent Genetics from a “b-” rating to a “c+” rating in a research note on Thursday, July 28. One investment analyst gave the shares a hold rating and three issued a buy rating on the company’s shares. According to MarketBeat, the stock has a “Moderate Buy” consensus rating and an $80.00 average price target.

Buying and selling inside information on Fulgent Genetics

In other Fulgent Genetics news, COO Jian Xie sold 675 shares of capital stock in a transaction dated Tuesday, August 30. The shares sold at an average price of $44.18, for a total value of $29,821.50. Following the completion of the sale, the COO now owns 309,729 shares of the company, valued at approximately $13,683,827.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO paul kim sold 662 shares of the firm’s capital stock in a transaction that occurred on Tuesday, September 6. The shares sold at an average price of $41.39, for a total transaction of $27,400.18. Following the completion of the sale, the CFO now owns 149,507 shares of the company, valued at approximately $6,188,094.73. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director of Operations Jian Xie sold 675 shares of the firm’s capital stock in a transaction that occurred on Tuesday, August 30. The shares sold at an average price of $44.18, for a total transaction of $29,821.50. Following the sale, the COO now owns 309,729 shares of the company, valued at approximately $13,683,827.22. Disclosure of this sale can be found here. The members of the company own 29.50% of the shares of the company.

Institutional inputs and outputs

Several institutional investors and hedge funds have recently bought and sold FLGT shares. Park West Asset Management LLC increased its stake in Fulgent Genetics by 152.0% in the second quarter. Park West Asset Management LLC now owns 629,882 shares of the company worth $34,347,000 after purchasing an additional 379,882 shares during the period. Aaron Wealth Advisors LLC increased its stake in Fulgent Genetics by 7,094.9% in the first quarter. Aaron Wealth Advisors LLC now owns 324,344 shares of the company worth $5,197,000 after purchasing an additional 319,836 shares during the period. Dimensional Fund Advisors LP increased its holdings in Fulgent Genetics by 73.5% in the third quarter. Dimensional Fund Advisors LP now owns 680,822 shares of the company worth $25,954,000 after purchasing an additional 288,308 shares during the period. Point72 Asset Management LP increased its stake in Fulgent Genetics by 254.2% in the second quarter. Point72 Asset Management LP now owns 227,237 shares of the company worth $12,391,000 after purchasing an additional 163,083 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Fulgent Genetics by 33.9% in the third quarter. Pacer Advisors Inc. now owns 487,208 shares of the company worth $18,572,000 after purchasing an additional 123,265 shares during the period. 43.22% of the shares are owned by institutional investors.

Fulgent Genetics is trading down 6.1%

The company’s fifty-day moving average is $38.98 and its 200-day moving average is $48.62. The company has a market capitalization of $1.08 billion, a price-earnings ratio of 4.51, and a beta of 1.54.

glowing genetics (NASDAQ:FLGTget grade) last announced its quarterly earnings results on Monday, November 7. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.13. Fulgent Genetics had a net margin of 33.82% and a return on equity of 22.10%. The company had revenue of $105.66 million during the quarter, compared to the consensus estimate of $103.70 million. Stock research analysts predict that Fulgent Genetics, Inc. will post 5.26 EPS for the current year.

About Fulgent Genetics

(get grade)

Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing, molecular diagnostics, and COVID-19 services to physicians and patients in the United States and internationally. The company offers genetic testing that includes Focus and Comprehensive oncology panel tests; Beacon carrier screening panels test for hereditary conditions; Molecular profiling of solid tumors for somatic cancer testing; rapid genome-wide testing for children in the NICU and PICU; newborn genetic analysis panel; single first-line test to detect ataxia-related variants and repeat expansions using sequencing; genetic imaging, a patient-initiated genetic test; whole exome panel and clinical exome tests; genome-wide, mutation, and repeat expansion testing services, as well as research services testing.

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