Fulgent Genetics (NASDAQ:FLGT) Stock Price Up 5.5%

Fulgent Genetics, Inc. (NASDAQ:FLGT) rose 5.5% during trading on Monday . The company traded as high as $22.68 and last traded at $22.68. Approximately 30,821 shares traded hands during trading, a decline of 84% from the average daily volume of 198,101 shares. The stock had previously closed at $21.50.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their price objective on Fulgent Genetics from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th.

Fulgent Genetics Stock Performance

The stock has a 50 day moving average price of $21.76 and a two-hundred day moving average price of $24.98. The company has a market capitalization of $642.55 million, a PE ratio of -3.86 and a beta of 1.43.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.61. Fulgent Genetics had a negative return on equity of 2.92% and a negative net margin of 57.72%. The company had revenue of $70.51 million during the quarter, compared to the consensus estimate of $67.14 million. Sell-side analysts predict that Fulgent Genetics, Inc. will post -2.04 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Mutual Advisors LLC raised its stake in shares of Fulgent Genetics by 5.2% in the 3rd quarter. Mutual Advisors LLC now owns 9,370 shares of the company’s stock valued at $251,000 after acquiring an additional 462 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its position in Fulgent Genetics by 461.7% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 51,700 shares of the company’s stock worth $1,382,000 after buying an additional 42,495 shares during the period. Illinois Municipal Retirement Fund bought a new position in Fulgent Genetics in the 3rd quarter worth approximately $317,000. Brandywine Global Investment Management LLC bought a new position in Fulgent Genetics in the 3rd quarter worth approximately $2,430,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in Fulgent Genetics by 7.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 10,572 shares of the company’s stock worth $283,000 after buying an additional 693 shares during the period. 48.06% of the stock is owned by institutional investors.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company's clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases.