StockNews.com Begins Coverage on Fulgent Genetics (NASDAQ:FLGT)

Equities researchers at StockNews.com began coverage on shares of Fulgent Genetics (NASDAQ:FLGT – Get Rating) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.

A number of other research analysts also recently issued reports on the stock. Piper Sandler raised their price target on shares of Fulgent Genetics from $35.00 to $37.00 in a research report on Monday, May 8th. Credit Suisse Group reduced their price target on shares of Fulgent Genetics from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, March 2nd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

Fulgent Genetics Price Performance

FLGT opened at $35.69 on Thursday. The firm’s fifty day moving average price is $31.34 and its 200 day moving average price is $32.82. Fulgent Genetics has a 12-month low of $28.27 and a 12-month high of $65.17. The stock has a market capitalization of $1.06 billion, a PE ratio of -40.10 and a beta of 1.55.

Fulgent Genetics (NASDAQ:FLGT – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.07. Fulgent Genetics had a negative return on equity of 1.05% and a negative net margin of 7.10%. The firm had revenue of $67.70 million for the quarter, compared to analysts’ expectations of $59.44 million. On average, equities research analysts forecast that Fulgent Genetics will post -2.27 earnings per share for the current fiscal year.

Institutional Trading of Fulgent Genetics

Several hedge funds have recently bought and sold shares of FLGT. JPMorgan Chase & Co. lifted its position in Fulgent Genetics by 318.5% in the 1st quarter. JPMorgan Chase & Co. now owns 78,457 shares of the company’s stock valued at $4,896,000 after purchasing an additional 59,711 shares during the last quarter. Raymond James & Associates raised its stake in Fulgent Genetics by 42.9% during the 1st quarter. Raymond James & Associates now owns 14,944 shares of the company’s stock valued at $933,000 after acquiring an additional 4,486 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Fulgent Genetics by 25.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 24,905 shares of the company’s stock valued at $1,554,000 after acquiring an additional 5,106 shares in the last quarter. Citigroup Inc. raised its stake in Fulgent Genetics by 3.6% during the 1st quarter. Citigroup Inc. now owns 20,152 shares of the company’s stock valued at $1,258,000 after acquiring an additional 702 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Fulgent Genetics by 7.6% during the 1st quarter. Bank of Montreal Can now owns 6,551 shares of the company’s stock valued at $410,000 after acquiring an additional 461 shares in the last quarter. 43.22% of the stock is currently owned by institutional investors.

About Fulgent Genetics

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Fulgent Genetics, Inc is a technology company, which engages in the provision of gene testing and sequencing solutions. It offers genes and panels, known mutation, hereditary cancer, carrier screening, and tumor profiling solutions. The company was founded by Ming Hsieh on May 13, 2016 and is headquartered in Temple City, CA.