Fulgent Genetics, Inc. (NASDAQ:FLGT) Receives Average Rating of “Moderate Buy” from Analysts

Fulgent Genetics, Inc. (NASDAQ:FLGT) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $32.00.

Several research analysts have recently commented on FLGT shares. Piper Sandler lifted their price target on Fulgent Genetics from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Wall Street Zen downgraded shares of Fulgent Genetics from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Raymond James Financial reissued an “outperform” rating and issued a $36.00 price target on shares of Fulgent Genetics in a research note on Friday, November 14th. Zacks Research upgraded shares of Fulgent Genetics from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fulgent Genetics in a research report on Wednesday, October 8th.

Fulgent Genetics Trading Down 2.0%

FLGT stock opened at $28.08 on Tuesday. The firm has a 50-day moving average of $27.98 and a two-hundred day moving average of $23.68. Fulgent Genetics has a 12 month low of $14.57 and a 12 month high of $31.04. The company has a market cap of $867.95 million, a price-to-earnings ratio of -20.20 and a beta of 0.63.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.36. Fulgent Genetics had a negative return on equity of 2.55% and a negative net margin of 13.62%.The business had revenue of $84.07 million during the quarter, compared to analyst estimates of $81.43 million. Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. As a group, equities analysts forecast that Fulgent Genetics will post -0.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Hanlin Gao sold 1,075 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $28.33, for a total transaction of $30,454.75. Following the completion of the sale, the insider directly owned 952,890 shares of the company’s stock, valued at approximately $26,995,373.70. This trade represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jian Xie sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $29.10, for a total transaction of $291,000.00. Following the completion of the transaction, the chief operating officer directly owned 349,768 shares in the company, valued at $10,178,248.80. The trade was a 2.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 15,572 shares of company stock valued at $454,112. Company insiders own 31.76% of the company’s stock.

Institutional Trading of Fulgent Genetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in shares of Fulgent Genetics by 60.4% during the second quarter. Signaturefd LLC now owns 1,914 shares of the company’s stock worth $38,000 after buying an additional 721 shares during the period. Raymond James Financial Inc. purchased a new position in Fulgent Genetics during the 2nd quarter valued at about $49,000. Quantbot Technologies LP purchased a new position in Fulgent Genetics during the 3rd quarter valued at about $61,000. R Squared Ltd acquired a new position in Fulgent Genetics in the 3rd quarter valued at about $250,000. Finally, Mackenzie Financial Corp increased its stake in Fulgent Genetics by 11.2% during the third quarter. Mackenzie Financial Corp now owns 12,155 shares of the company’s stock worth $275,000 after purchasing an additional 1,220 shares during the period. Hedge funds and other institutional investors 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.