Zacks Investment Research downgraded shares of Fulgent Genetic (NASDAQ:FLGT) from a hold rating to a strong sell rating in a report published on Monday.

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. “

Several other brokerages also recently weighed in on FLGT. Credit Suisse Group AG reduced their target price on shares of 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 reissued an overweight rating and issued a $7.00 target price (down previously from $10.00) on shares of Fulgent Genetic in a research note on Wednesday, August 9th. ValuEngine raised shares of Fulgent Genetic from a sell rating to a hold rating in a research note on Monday, October 2nd. Finally, Raymond James Financial, Inc. downgraded shares of Fulgent Genetic from an outperform rating to a mkt perform rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Fulgent Genetic currently has an average rating of Hold and a consensus price target of $7.25.

Fulgent Genetic (FLGT) traded down $0.06 during trading on Monday, reaching $3.26. 74,400 shares of the company were exchanged, compared to its average volume of 44,234. The stock has a market capitalization of $58.90 and a P/E ratio of 166.00. Fulgent Genetic has a 52 week low of $2.72 and a 52 week high of $13.90.

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In other news, CEO Ming Hsieh bought 11,520 shares of Fulgent Genetic stock in a transaction dated Thursday, November 9th. The shares were acquired at an average price of $3.47 per share, with a total value of $39,974.40. Following the completion of the purchase, the chief executive officer now owns 6,506,464 shares in the company, valued at approximately $22,577,430.08. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 58.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC grew its holdings in shares of Fulgent Genetic by 10.4% in the second quarter. William Blair Investment Management LLC now owns 640,219 shares of the company’s stock worth $4,091,000 after purchasing an additional 60,508 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Fulgent Genetic in the first quarter worth about $122,000. Finally, Wells Fargo & Company MN grew its holdings 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 purchasing an additional 10,230 shares during the last quarter. Hedge funds and other institutional investors own 16.78% of the company’s stock.

Fulgent Genetic Company Profile

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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