Fulgent Genetics (NASDAQ:FLGT) Downgraded by StockNews.com to “Sell”

Fulgent Genetics (NASDAQ:FLGT) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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

Fulgent Genetics Trading Up 1.0 %

Shares of NASDAQ:FLGT opened at $18.07 on Wednesday. The company has a 50 day moving average of $19.86 and a 200 day moving average of $21.14. The stock has a market cap of $552.76 million, a P/E ratio of -3.27 and a beta of 1.51. Fulgent Genetics has a 12 month low of $16.56 and a 12 month high of $30.68.

Insiders Place Their Bets

In other news, CEO Ming Hsieh sold 2,227 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $18.26, for a total value of $40,665.02. Following the completion of the sale, the chief executive officer now owns 703,711 shares of the company’s stock, valued at approximately $12,849,762.86. The trade was a 0.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 3,413 shares of company stock valued at $62,321 over the last quarter. 32.66% of the stock is owned by corporate insiders.

Institutional Trading of Fulgent Genetics

Institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System bought a new stake in shares of Fulgent Genetics in the 1st quarter worth approximately $178,000. Vanguard Group Inc. lifted its stake in Fulgent Genetics by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,424,448 shares of the company’s stock worth $30,911,000 after acquiring an additional 8,257 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Fulgent Genetics by 11.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 29,103 shares of the company’s stock valued at $631,000 after acquiring an additional 2,879 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Fulgent Genetics by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,261 shares of the company’s stock valued at $310,000 after purchasing an additional 3,458 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Fulgent Genetics by 36.4% in the 2nd quarter. SG Americas Securities LLC now owns 12,826 shares of the company’s stock worth $252,000 after purchasing an additional 3,425 shares in the last quarter. 48.06% of the stock is currently owned by hedge funds and other 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.