Fulgent Genetic (FLGT) Lifted to “Hold” at ValuEngine
ValuEngine upgraded shares of Fulgent Genetic (NASDAQ:FLGT) from a sell rating to a hold rating in a report published on Monday morning.
Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Fulgent Genetic from a sell rating to a hold rating in a research report on Tuesday, September 26th. Credit Suisse Group AG lowered their price objective on Fulgent Genetic from $11.00 to $10.00 and set an outperform rating for the company in a research report on Tuesday, August 8th. Finally, Piper Jaffray Companies reaffirmed an overweight rating and set a $7.00 price target (down previously from $10.00) on shares of Fulgent Genetic in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $10.67.
Fulgent Genetic (NASDAQ FLGT) traded up 0.21% on Monday, hitting $4.76. The stock had a trading volume of 30,272 shares. The company has a 50-day moving average price of $4.90 and a 200 day moving average price of $4.90. Fulgent Genetic has a 52-week low of $4.37 and a 52-week high of $13.90. The firm’s market cap is $84.44 million.
Fulgent Genetic (NASDAQ:FLGT) last posted its quarterly earnings data on Monday, August 7th. The company reported $0.02 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.02. The firm had revenue of $4.64 million during 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 forecast that Fulgent Genetic will post $0.14 earnings per share for the current fiscal year.
In other Fulgent Genetic news, CFO Paul Kim sold 6,134 shares of Fulgent Genetic stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $5.71, for a total transaction of $35,025.14. Following the completion of the sale, the chief financial officer now owns 388,602 shares of the company’s stock, valued at approximately $2,218,917.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN lifted its position in Fulgent Genetic by 2,046.0% during the 1st quarter. Wells Fargo & Company MN now owns 10,730 shares of the company’s stock worth $118,000 after acquiring an additional 10,230 shares during the period. Bank of New York Mellon Corp acquired a new stake in Fulgent Genetic during the 1st quarter worth about $122,000. Blair William & Co. IL acquired a new stake in Fulgent Genetic during the 1st quarter worth about $287,000. Scholtz & Company LLC lifted its position in Fulgent Genetic by 50.3% during the 1st quarter. Scholtz & Company LLC now owns 266,705 shares of the company’s stock worth $2,912,000 after acquiring an additional 89,205 shares during the period. Finally, William Blair Investment Management LLC lifted its position in Fulgent Genetic by 10.4% during the 2nd quarter. William Blair Investment Management LLC now owns 640,219 shares of the company’s stock worth $4,091,000 after acquiring an additional 60,508 shares during the period. 16.78% of the stock is owned by institutional investors.
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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