Fulgent Genetics (NASDAQ:FLGT) Upgraded at StockNews.com

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

Separately, Piper Sandler cut their price target on Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday.

Fulgent Genetics Trading Up 7.3 %

Shares of FLGT stock opened at $16.65 on Wednesday. Fulgent Genetics has a 12 month low of $14.57 and a 12 month high of $25.11. The stock has a market capitalization of $509.27 million, a P/E ratio of -3.02 and a beta of 1.39. The firm’s 50 day moving average is $17.15 and its 200 day moving average is $19.30.

Insider Activity

In other news, CFO Paul Kim purchased 100,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost of $15.96 per share, with a total value of $1,596,000.00. Following the acquisition, the chief financial officer now directly owns 348,282 shares in the company, valued at approximately $5,558,580.72. This trade represents a 40.28 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 31.76% of the company’s stock.

Institutional Investors Weigh In On Fulgent Genetics

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Fulgent Genetics by 13.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,654 shares of the company’s stock worth $936,000 after acquiring an additional 5,986 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Fulgent Genetics by 178.3% in the fourth quarter. Squarepoint Ops LLC now owns 41,608 shares of the company’s stock worth $768,000 after purchasing an additional 26,659 shares during the last quarter. Two Sigma Advisers LP raised its stake in Fulgent Genetics by 29.7% in the fourth quarter. Two Sigma Advisers LP now owns 83,000 shares of the company’s stock valued at $1,533,000 after purchasing an additional 19,000 shares in the last quarter. State of Wyoming purchased a new stake in Fulgent Genetics in the fourth quarter valued at approximately $57,000. Finally, Quantinno Capital Management LP bought a new stake in Fulgent Genetics during the fourth quarter valued at approximately $242,000. Hedge funds and other institutional investors 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.