Fulgent Genetics (NASDAQ:FLGT) Stock Rating Lowered by Wall Street Zen

Fulgent Genetics (NASDAQ:FLGT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other analysts have also recently weighed in on the stock. Piper Sandler boosted their price objective 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulgent Genetics in a report on Thursday, January 22nd. Zacks Research lowered Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, 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. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.00.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT opened at $14.63 on Friday. The company has a 50 day simple moving average of $24.37 and a 200 day simple moving average of $24.58. Fulgent Genetics has a 1 year low of $13.46 and a 1 year high of $31.04. The firm has a market cap of $456.89 million, a PE ratio of -7.46 and a beta of 0.94.

Fulgent Genetics (NASDAQ:FLGT) last posted its earnings results on Friday, February 27th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. The firm had revenue of $83.34 million for the quarter, compared to analyst estimates of $85.38 million. Fulgent Genetics had a negative net margin of 18.75% and a negative return on equity of 2.22%. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. As a group, research analysts anticipate that Fulgent Genetics will post -0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FLGT. Farther Finance Advisors LLC raised its holdings in shares of Fulgent Genetics by 69.3% in 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 last quarter. Kestra Advisory Services LLC acquired a new position in Fulgent Genetics during the 4th quarter valued at about $35,000. Caitong International Asset Management Co. Ltd increased its holdings in Fulgent Genetics by 214.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock worth $48,000 after purchasing an additional 1,251 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Fulgent Genetics in the second quarter worth approximately $49,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Fulgent Genetics in the fourth quarter worth approximately $56,000. 48.06% of the stock is currently owned by institutional investors and hedge funds.

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.