Raymond James Financial, Inc. downgraded shares of FULGENT GENETIC (NASDAQ:FLGT) from an outperform rating to a mkt perform rating in a report released on Tuesday morning.

Several other analysts also recently commented on FLGT. Piper Jaffray Companies restated an overweight rating and set a $7.00 price objective (down from $10.00) on shares of FULGENT GENETIC in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of FULGENT GENETIC from a hold rating to a sell rating in a research report on Monday, August 14th. ValuEngine raised shares of FULGENT GENETIC from a sell rating to a hold rating in a research note on Monday, October 2nd. Finally, Credit Suisse Group cut their target price on shares of FULGENT GENETIC from $11.00 to $10.00 and set an outperform rating for the company in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $7.25.

Shares of FULGENT GENETIC (FLGT) opened at $3.47 on Tuesday. The company has a market cap of $71.85 and a price-to-earnings ratio of 202.50. FULGENT GENETIC has a 52-week low of $2.72 and a 52-week high of $13.90.

FULGENT GENETIC (NASDAQ:FLGT) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The firm had revenue of $4.64 million for the quarter, compared to the consensus estimate of $5.03 million. FULGENT GENETIC had a negative net margin of 0.36% and a positive return on equity of 0.20%. equities analysts forecast that FULGENT GENETIC will post 0.07 EPS for the current year.

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In related news, CFO Paul Kim sold 6,134 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $5.71, for a total transaction of $35,025.14. Following the completion of the transaction, the chief financial officer now directly owns 388,602 shares of the company’s stock, valued at $2,218,917.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 58.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its stake in shares of FULGENT GENETIC by 2,046.0% in the 1st 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. Bank of New York Mellon Corp purchased a new position in shares of FULGENT GENETIC in the 1st quarter worth $122,000. Finally, William Blair Investment Management LLC grew its stake in shares of FULGENT GENETIC by 10.4% in the 2nd quarter. William Blair Investment Management LLC now owns 640,219 shares of the company’s stock worth $4,091,000 after buying an additional 60,508 shares in the last quarter. 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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