Fulgent Genetics (NASDAQ:FLGT) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Fulgent Genetics (NASDAQ:FLGT) from a hold rating to a sell rating in a research note issued to investors on Monday.

Separately, Piper Sandler decreased their target price on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday.

Fulgent Genetics Stock Performance

Shares of NASDAQ FLGT opened at $20.04 on Monday. The stock has a market capitalization of $607.21 million, a PE ratio of -3.63 and a beta of 1.51. Fulgent Genetics has a 52 week low of $18.76 and a 52 week high of $30.68. The stock has a 50 day moving average price of $21.01 and a 200 day moving average price of $21.44.

Insider Activity at Fulgent Genetics

In other news, CEO Ming Hsieh sold 2,313 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $22.83, for a total transaction of $52,805.79. Following the completion of the transaction, the chief executive officer now directly owns 707,275 shares in the company, valued at approximately $16,147,088.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 4,324 shares of company stock worth $98,717. Insiders own 31.76% of the company’s stock.

Institutional Trading of Fulgent Genetics

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC grew its stake in Fulgent Genetics by 34.3% in the 2nd quarter. Millennium Management LLC now owns 958,852 shares of the company’s stock valued at $18,813,000 after buying an additional 244,981 shares during the last quarter. Divisadero Street Capital Management LP lifted its position in Fulgent Genetics by 46.4% during the second quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock worth $9,912,000 after acquiring an additional 160,212 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Fulgent Genetics by 37.6% during the second quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company’s stock worth $3,948,000 after acquiring an additional 55,020 shares during the period. Acadian Asset Management LLC grew its position in shares of Fulgent Genetics by 593.5% in the second quarter. Acadian Asset Management LLC now owns 62,724 shares of the company’s stock valued at $1,227,000 after purchasing an additional 53,680 shares during the last quarter. Finally, Acuitas Investments LLC bought a new position in shares of Fulgent Genetics during the second quarter worth approximately $962,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

Fulgent Genetics Company Profile

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.