Fulgent Genetics (NASDAQ:FLGT) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Fulgent Genetics (NASDAQ:FLGT) from a sell rating to a strong sell rating in a research note published on Saturday morning.

Several other analysts have also recently weighed in on FLGT. Zacks Research cut shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fulgent Genetics in a report on Thursday, January 22nd. Finally, Piper Sandler reissued a “neutral” rating and issued a $15.00 price objective (down from $30.00) on shares of Fulgent Genetics in a research report on Tuesday. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.00.

Fulgent Genetics Price Performance

FLGT opened at $15.96 on Friday. Fulgent Genetics has a 12 month low of $13.46 and a 12 month high of $31.04. The stock has a market capitalization of $474.81 million, a price-to-earnings ratio of -6.68 and a beta of 0.88. The business has a fifty day moving average price of $15.82 and a 200 day moving average price of $22.66.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Friday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. The company had revenue of $83.34 million for the quarter, compared to analyst estimates of $85.38 million. Fulgent Genetics had a negative return on equity of 3.24% and a negative net margin of 23.04%.Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. On average, research analysts anticipate that Fulgent Genetics will post -2.81 earnings per share for the current year.

Institutional Investors Weigh In On Fulgent Genetics

Several hedge funds and other institutional investors have recently made changes to their positions in FLGT. Farther Finance Advisors LLC boosted its holdings in Fulgent Genetics by 69.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock valued at $35,000 after purchasing an additional 548 shares in the last quarter. Federated Hermes Inc. raised its holdings in Fulgent Genetics by 1.2% during the fourth quarter. Federated Hermes Inc. now owns 47,102 shares of the company’s stock worth $1,237,000 after purchasing an additional 552 shares in the last quarter. Rhumbline Advisers raised its holdings in Fulgent Genetics by 2.4% during the second quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock worth $659,000 after purchasing an additional 785 shares in the last quarter. Swiss National Bank lifted its position in shares of Fulgent Genetics by 3.2% during the 4th quarter. Swiss National Bank now owns 39,200 shares of the company’s stock worth $1,030,000 after buying an additional 1,200 shares during the last quarter. Finally, Peapod Lane Capital LLC lifted its position in shares of Fulgent Genetics by 0.7% during the 4th quarter. Peapod Lane Capital LLC now owns 165,781 shares of the company’s stock worth $4,355,000 after buying an additional 1,202 shares during the last quarter. Institutional investors and hedge funds own 48.06% of the company’s stock.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.