Fulgent Genetics (NASDAQ:FLGT) Shares Gap Down to $21.24

Fulgent Genetics, Inc. (NASDAQ:FLGT)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $21.24, but opened at $20.50. Fulgent Genetics shares last traded at $20.97, with a volume of 54,627 shares changing hands.

Analyst Upgrades and Downgrades

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

Fulgent Genetics Trading Up 1.2 %

The stock has a market capitalization of $642.85 million, a P/E ratio of -3.81 and a beta of 1.43. The stock’s 50 day simple moving average is $21.76 and its 200 day simple moving average is $24.98.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.61. The business had revenue of $70.51 million for the quarter, compared to analysts’ expectations of $67.14 million. Fulgent Genetics had a negative net margin of 58.03% and a negative return on equity of 3.04%. On average, sell-side analysts expect that Fulgent Genetics, Inc. will post -2.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Fulgent Genetics

A number of institutional investors have recently made changes to their positions in FLGT. Asset Management One Co. Ltd. bought a new position in Fulgent Genetics during the third quarter worth $34,000. Covestor Ltd raised its holdings in shares of Fulgent Genetics by 48.0% during the third quarter. Covestor Ltd now owns 1,508 shares of the company’s stock worth $40,000 after purchasing an additional 489 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Fulgent Genetics by 20.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,902 shares of the company’s stock worth $131,000 after buying an additional 828 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Fulgent Genetics by 34.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,569 shares of the company’s stock valued at $190,000 after buying an additional 1,667 shares during the period. Finally, Teza Capital Management LLC bought a new stake in shares of Fulgent Genetics during the 3rd quarter valued at about $200,000. 48.06% of the stock is currently owned by institutional investors.

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.