Fulgent Genetics (NASDAQ:FLGT) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

Separately, Piper Sandler reduced their price target on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th.

Fulgent Genetics Trading Up 1.7 %

Shares of FLGT opened at $17.00 on Tuesday. The stock has a market capitalization of $520.03 million, a PE ratio of -3.03 and a beta of 1.51. The firm’s 50 day moving average is $20.59 and its 200-day moving average is $21.35. Fulgent Genetics has a 12 month low of $16.56 and a 12 month high of $30.68.

Insider Buying and Selling

In related news, CEO Ming Hsieh sold 2,313 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $22.83, for a total transaction of $52,805.79. Following the sale, the chief executive officer now owns 707,275 shares in the company, valued at approximately $16,147,088.25. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 4,324 shares of company stock worth $98,717. Corporate insiders own 32.66% of the company’s stock.

Institutional Trading of Fulgent Genetics

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Fulgent Genetics by 2.7% in the third quarter. Geode Capital Management LLC now owns 502,869 shares of the company’s stock valued at $10,930,000 after buying an additional 13,320 shares in the last quarter. Barclays PLC boosted its position in Fulgent Genetics by 22.6% in the third quarter. Barclays PLC now owns 174,855 shares of the company’s stock valued at $3,800,000 after buying an additional 32,250 shares in the last quarter. State Street Corp boosted its position in Fulgent Genetics by 1.4% in the third quarter. State Street Corp now owns 793,545 shares of the company’s stock valued at $17,244,000 after buying an additional 10,868 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Fulgent Genetics in the third quarter valued at approximately $46,000. Finally, Point72 Asset Management L.P. acquired a new stake in Fulgent Genetics in the third quarter valued at approximately $5,854,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

About Fulgent Genetics

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.