Fulgent Genetics (NASDAQ:FLGT) Hits New 1-Year Low at $21.20

Fulgent Genetics, Inc. (NASDAQ:FLGTGet Free Report)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $21.20 and last traded at $21.23, with a volume of 41521 shares trading hands. The stock had previously closed at $21.70.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FLGT. Piper Sandler lowered their price target on Fulgent Genetics from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. UBS Group initiated coverage on Fulgent Genetics in a research note on Thursday, December 7th. They set a “neutral” rating and a $35.00 target price on the stock.

Check Out Our Latest Stock Analysis on Fulgent Genetics

Fulgent Genetics Trading Down 2.5 %

The company has a 50 day moving average of $23.80 and a 200-day moving average of $25.93.

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

Institutional Investors Weigh In On Fulgent Genetics

A number of hedge funds have recently bought and sold shares of FLGT. Geneos Wealth Management Inc. raised its position in shares of Fulgent Genetics by 416.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 491 shares of the company’s stock worth $30,000 after acquiring an additional 396 shares in the last quarter. Covington Capital Management raised its position in shares of Fulgent Genetics by 133.3% during the 3rd quarter. Covington Capital Management now owns 700 shares of the company’s stock worth $27,000 after acquiring an additional 400 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Fulgent Genetics during the 3rd quarter worth about $34,000. Covestor Ltd raised its position in shares of Fulgent Genetics by 48.0% during the 3rd quarter. Covestor Ltd now owns 1,508 shares of the company’s stock worth $40,000 after acquiring an additional 489 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Fulgent Genetics during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

Fulgent Genetics Company Profile

(Get Free Report)

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.

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