Fulgent Genetics (NASDAQ:FLGT) Upgraded at StockNews.com

StockNews.com upgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a sell rating to a hold rating in a report issued on Tuesday morning.

Separately, Piper Sandler reduced their target price on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, November 11th.

Fulgent Genetics Stock Performance

Shares of NASDAQ FLGT opened at $17.05 on Tuesday. The stock has a 50 day moving average price of $20.31 and a 200 day moving average price of $21.26. The stock has a market capitalization of $521.36 million, a PE ratio of -3.09 and a beta of 1.51. Fulgent Genetics has a 52 week low of $16.56 and a 52 week high of $30.68.

Insider Transactions at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,313 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $22.83, for a total value of $52,805.79. Following the transaction, the chief executive officer now owns 707,275 shares in the company, valued at approximately $16,147,088.25. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 4,324 shares of company stock worth $98,717 in the last 90 days. Insiders own 31.76% of the company’s stock.

Hedge Funds Weigh In On Fulgent Genetics

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Fulgent Genetics by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,424,448 shares of the company’s stock valued at $30,911,000 after purchasing an additional 8,257 shares during the last quarter. Millennium Management LLC lifted its stake in Fulgent Genetics by 34.3% in the second quarter. Millennium Management LLC now owns 958,852 shares of the company’s stock valued at $18,813,000 after purchasing an additional 244,981 shares during the last quarter. State Street Corp raised its holdings in Fulgent Genetics by 1.4% during the 3rd quarter. State Street Corp now owns 793,545 shares of the company’s stock valued at $17,244,000 after acquiring an additional 10,868 shares during the period. Divisadero Street Capital Management LP raised its holdings in Fulgent Genetics by 46.4% during the 2nd quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock valued at $9,912,000 after acquiring an additional 160,212 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Fulgent Genetics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 502,869 shares of the company’s stock valued at $10,930,000 after acquiring an additional 13,320 shares during the period. Hedge funds and other institutional investors own 48.06% of the company’s stock.

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.