Fulgent Genetics (NASDAQ:FLGT) Lowered to “Sell” Rating by Wall Street Zen

Fulgent Genetics (NASDAQ:FLGT) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research analysts have also recently weighed in on the stock. Zacks Research cut shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Piper Sandler lifted their target price on shares of Fulgent Genetics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Thursday, January 22nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Fulgent Genetics in a report on Friday, November 14th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.00.

Fulgent Genetics Trading Up 2.7%

Shares of NASDAQ:FLGT opened at $14.63 on Friday. The stock has a market cap of $456.89 million, a PE ratio of -7.46 and a beta of 0.94. The stock’s fifty day simple moving average is $24.37 and its two-hundred day simple moving average is $24.58. Fulgent Genetics has a 1-year low of $13.46 and a 1-year high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last posted its earnings results on Friday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.14. The firm had revenue of $83.34 million during the quarter, compared to analyst estimates of $85.38 million. Fulgent Genetics had a negative net margin of 18.75% and a negative return on equity of 2.22%. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. On average, sell-side analysts forecast that Fulgent Genetics will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fulgent Genetics

A number of large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Fulgent Genetics by 214.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock valued at $48,000 after purchasing an additional 1,251 shares during the period. XTX Topco Ltd boosted its stake in Fulgent Genetics by 33.1% in the 4th quarter. XTX Topco Ltd now owns 22,195 shares of the company’s stock worth $583,000 after purchasing an additional 5,523 shares during the period. Susquehanna Portfolio Strategies LLC grew its holdings in Fulgent Genetics by 13.4% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 38,480 shares of the company’s stock valued at $1,011,000 after buying an additional 4,560 shares in the last quarter. RTW Investments LP purchased a new position in Fulgent Genetics during the 4th quarter valued at about $18,521,000. Finally, Oxford Asset Management LLP bought a new stake in shares of Fulgent Genetics during the fourth quarter valued at about $254,000. 48.06% of the stock is owned by institutional investors.

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.