Zacks Investment Research upgraded shares of FULGENT GENETIC (NASDAQ:FLGT) from a sell rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “Fulgent Genetics, Inc. is a technology company. It provide genetic testing services to physicians with clinically actionable diagnostic information. The Company’s technology platform integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory process which serves primarily to hospitals and medical institutions. Fulgent Genetics, Inc. is headquartered in Temple City, California. “

FLGT has been the topic of a number of other reports. Credit Suisse Group lowered their target price on FULGENT GENETIC from $11.00 to $10.00 and set an outperform rating on the stock in a research note on Tuesday, August 8th. Piper Jaffray Companies reiterated an overweight rating and set a $7.00 target price (down from $10.00) on shares of FULGENT GENETIC in a research note on Wednesday, August 9th.

FULGENT GENETIC (NASDAQ FLGT) opened at 5.18 on Wednesday. The company’s market capitalization is $91.89 million. The stock has a 50 day moving average of $5.99 and a 200 day moving average of $8.16. FULGENT GENETIC has a 12 month low of $4.49 and a 12 month high of $13.90.

FULGENT GENETIC (NASDAQ:FLGT) last released its earnings results on Monday, August 7th. The company reported $0.02 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.02. The company had revenue of $4.64 million for the quarter, compared to analysts’ expectations of $5.03 million. FULGENT GENETIC had a negative return on equity of 0.02% and a negative net margin of 0.42%. Equities analysts anticipate that FULGENT GENETIC will post $0.14 EPS for the current fiscal year.

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In related news, CFO Paul Kim sold 6,134 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $5.71, for a total value of $35,025.14. Following the sale, the chief financial officer now directly owns 388,602 shares in the company, valued at approximately $2,218,917.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ming Hsieh acquired 20,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average price of $5.26 per share, for a total transaction of $105,200.00. Following the completion of the purchase, the insider now directly owns 6,482,244 shares in the company, valued at approximately $34,096,603.44. The disclosure for this purchase can be found here.

A number of large investors have recently made changes to their positions in FLGT. William Blair Investment Management LLC purchased a new stake in shares of FULGENT GENETIC during the first quarter worth about $6,330,000. Scholtz & Company LLC boosted its stake in shares of FULGENT GENETIC by 50.3% in the first quarter. Scholtz & Company LLC now owns 266,705 shares of the company’s stock worth $2,912,000 after buying an additional 89,205 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of FULGENT GENETIC during the first quarter worth about $287,000. Bank of New York Mellon Corp purchased a new stake in shares of FULGENT GENETIC during the first quarter worth about $122,000. Finally, Wells Fargo & Company MN boosted its stake in shares of FULGENT GENETIC by 2,046.0% in the first quarter. Wells Fargo & Company MN now owns 10,730 shares of the company’s stock worth $118,000 after buying an additional 10,230 shares in the last quarter. Institutional investors and hedge funds own 16.78% of the company’s stock.

About FULGENT GENETIC

Fulgent Genetics, Inc is a technology company. The Company offers genetic testing to provide physicians with clinically actionable diagnostic information to improve quality of patient care. The Company has developed a technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes.

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