Fulgent Genetics (NASDAQ:FLGT) Shares Up 4% – Still a Buy?

Fulgent Genetics, Inc. (NASDAQ:FLGT) traded up 4% during trading on Friday . The stock traded as high as $18.50 and last traded at $18.50. 62,159 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 181,130 shares. The stock had previously closed at $17.79.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FLGT. Piper Sandler lowered their target price on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday. StockNews.com downgraded shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Monday.

Fulgent Genetics Price Performance

The firm’s 50-day simple moving average is $20.77 and its 200 day simple moving average is $21.39. The firm has a market capitalization of $536.85 million, a price-to-earnings ratio of -3.21 and a beta of 1.51.

Insider Activity at Fulgent Genetics

In other news, CEO Ming Hsieh sold 2,313 shares of Fulgent Genetics stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $22.83, for a total value of $52,805.79. Following the completion of the sale, the chief executive officer now owns 707,275 shares in the company, valued at $16,147,088.25. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 4,324 shares of company stock worth $98,717 in the last quarter. 31.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Fulgent Genetics

Several large investors have recently bought and sold shares of the stock. Asset Dedication LLC bought a new stake in Fulgent Genetics during the second quarter worth $33,000. nVerses Capital LLC bought a new stake in shares of Fulgent Genetics during the 2nd quarter worth $43,000. Signaturefd LLC boosted its holdings in shares of Fulgent Genetics by 103.6% in the 2nd quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock worth $44,000 after buying an additional 1,132 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Fulgent Genetics during the second quarter valued at about $63,000. Finally, Gladius Capital Management LP purchased a new stake in Fulgent Genetics during the third quarter worth about $81,000. 48.06% of the stock is currently owned by institutional investors.

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.