Fulgent Genetics, Inc. (NASDAQ:FLGT) Given Average Recommendation of “Moderate Buy” by Analysts

Fulgent Genetics, Inc. (NASDAQ:FLGT) has been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $32.00.

A number of research analysts recently weighed in on FLGT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Thursday, January 22nd. Raymond James Financial restated an “outperform” rating and issued a $36.00 target price on shares of Fulgent Genetics in a research report on Friday, November 14th. Zacks Research upgraded Fulgent Genetics from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. Wall Street Zen lowered Fulgent Genetics from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Finally, Piper Sandler lifted their target price on shares of Fulgent Genetics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th.

Fulgent Genetics Price Performance

Shares of FLGT stock opened at $23.44 on Friday. The stock has a 50 day simple moving average of $27.14 and a 200-day simple moving average of $24.43. Fulgent Genetics has a 1-year low of $14.57 and a 1-year high of $31.04. The company has a market cap of $724.53 million, a price-to-earnings ratio of -16.86 and a beta of 0.86.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.36. The company had revenue of $84.07 million during the quarter, compared to analyst estimates of $81.43 million. Fulgent Genetics had a negative net margin of 13.62% and a negative return on equity of 2.55%. Analysts anticipate that Fulgent Genetics will post -0.85 earnings per share for the current fiscal year.

Insider Transactions at Fulgent Genetics

In other news, insider Hanlin Gao sold 1,075 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $28.33, for a total transaction of $30,454.75. Following the transaction, the insider directly owned 952,890 shares in the company, valued at $26,995,373.70. The trade was a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jian Xie sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $29.10, for a total value of $291,000.00. Following the completion of the sale, the chief operating officer owned 349,768 shares of the company’s stock, valued at $10,178,248.80. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,572 shares of company stock worth $454,112 over the last 90 days. 31.76% of the stock is currently owned by company insiders.

Institutional Trading of Fulgent Genetics

Several large investors have recently added to or reduced their stakes in FLGT. Farther Finance Advisors LLC raised its holdings in shares of Fulgent Genetics by 69.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock worth $35,000 after acquiring an additional 548 shares during the period. Raymond James Financial Inc. acquired a new stake in Fulgent Genetics during the second quarter worth about $49,000. Flagship Harbor Advisors LLC purchased a new position in Fulgent Genetics during the fourth quarter worth about $56,000. Quantbot Technologies LP acquired a new position in Fulgent Genetics in the 3rd quarter valued at about $61,000. Finally, Unison Advisors LLC purchased a new stake in shares of Fulgent Genetics in the 4th quarter valued at approximately $230,000. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

About Fulgent Genetics

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.