Fulgent Genetics, Inc. (NASDAQ:FLGT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Fulgent Genetics, Inc. (NASDAQ:FLGT) has received an average rating of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $32.00.

A number of equities research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Fulgent Genetics from $21.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Raymond James Financial reiterated an “outperform” rating and issued a $36.00 target price on shares of Fulgent Genetics in a report on Friday, November 14th. Zacks Research upgraded Fulgent Genetics from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded Fulgent Genetics from a “buy” rating to a “hold” rating in a report on Saturday, December 13th.

Insider Activity

In related news, COO Jian Xie sold 10,000 shares of Fulgent Genetics stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $29.10, for a total value of $291,000.00. Following the completion of the transaction, the chief operating officer owned 349,768 shares in the company, valued at approximately $10,178,248.80. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hanlin Gao sold 1,075 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $28.33, for a total transaction of $30,454.75. Following the sale, the insider directly owned 952,890 shares in the company, valued at approximately $26,995,373.70. The trade was a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 15,572 shares of company stock valued at $454,112. 31.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fulgent Genetics

Several institutional investors have recently modified their holdings of FLGT. Northwestern Mutual Wealth Management Co. raised its stake in shares of Fulgent Genetics by 2,984,354.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock valued at $39,985,000 after acquiring an additional 1,522,021 shares in the last quarter. Strs Ohio raised its position in Fulgent Genetics by 7,533.3% in the 4th quarter. Strs Ohio now owns 22,900 shares of the company’s stock valued at $602,000 after purchasing an additional 22,600 shares in the last quarter. UBS Group AG raised its position in Fulgent Genetics by 288.8% in the 4th quarter. UBS Group AG now owns 83,559 shares of the company’s stock valued at $2,195,000 after purchasing an additional 62,070 shares in the last quarter. Peapod Lane Capital LLC boosted its stake in shares of Fulgent Genetics by 0.7% in the 4th quarter. Peapod Lane Capital LLC now owns 165,781 shares of the company’s stock valued at $4,355,000 after buying an additional 1,202 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Fulgent Genetics during the fourth quarter worth about $324,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

Fulgent Genetics Stock Down 1.1%

Shares of Fulgent Genetics stock opened at $23.44 on Friday. The firm has a market cap of $724.53 million, a PE ratio of -16.86 and a beta of 0.86. Fulgent Genetics has a 52 week low of $14.57 and a 52 week high of $31.04. The business’s fifty day simple moving average is $27.14 and its 200-day simple moving average is $24.43.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.36. Fulgent Genetics had a negative net margin of 13.62% and a negative return on equity of 2.55%. The firm had revenue of $84.07 million for the quarter, compared to analyst estimates of $81.43 million. As a group, equities analysts expect that Fulgent Genetics will post -0.85 earnings per share for the current year.

About Fulgent Genetics

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.