TheStreet downgrades Fulgent Genetics (NASDAQ:FLGT) to C+


TheStreet reduced shares of Fulgent genetics (NASDAQ:FLGTGet rating) from a b- rating to a c+ rating in a research report published on Thursday, TheStreetRating Table reports.

FLGT has been the subject of several other reports. Piper Sandler lowered their target price for Fulgent Genetics from $85.00 to $70.00 in a report on Sunday, May 15. StockNews.com opened coverage of Fulgent Genetics in a research report on Thursday, March 31. They gave a hold rating to the company.

Fulgent Genetics trades 1.0%

Shares of FLGT opens at $59.75 on Thursdays. The company has a market cap of $1.81 billion, a PE ratio of 4.04 and a beta of 1.51. Fulgent Genetics has a 12-month low of $47.34 and a 12-month high of $112.00. The 50 day moving average price is $55.18 and the two hundred day moving average price is $58.64.

Fulgent genetics (NASDAQ:FLGTGet rating) last announced its earnings results on Tuesday, May 3. The company reported $4.93 earnings per share for the quarter, surpassing the consensus estimate of $4.32 by $0.61. The company had revenue of $320.30 million for the quarter, compared to the consensus estimate of $300.50 million. Fulgent Genetics had a return on equity of 41.13% and a net margin of 48.32%. The company’s quarterly sales declined 10.9% compared to the same quarter last year. During the same period last year, the company earned $6.51 EPS. Equity research analysts predict that Fulgent Genetics will achieve 5.71 earnings per share for the current fiscal year.

Insider Transactions at Fulgent Genetics

In related news, COO Jian Xie sold 1,269 shares of the company in a transaction dated Monday, May 16. The stock sold at an average price of $53.38, for a total value of $67,739.22. Following the closing of the sale, the Chief Operating Officer now directly owns 329,701 shares of the company, valued at approximately $17,599,439.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed at: this link. In related news, CFO Paul Kim sold 1,191 shares of the company in a transaction dated Monday, May 16. The stock sold at an average price of $53.38, for a total value of $63,575.58. Following the closing of the sale, the Chief Financial Officer now directly owns 153,577 shares of the company, valued at approximately $8,197,940.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed at: this link. Also COO Jian Xie sold 1,269 shares of the company in a transaction that took place on Monday, May 16. The stock sold at an average price of $53.38, for a total value of $67,739.22. Following the sale, the Chief Operating Officer now directly owns 329,701 shares of the company, valued at $17,599,439.38. The disclosure for this sale can be found here. In the past 90 days, insiders have sold 3,200 shares of the company worth $171,530. Corporate insiders own 29.50% of the company’s stock.

Institutional trading in fulgent genetics

Hedge funds and other institutional investors have recently increased or decreased their stake in the stock. Total Clarity Wealth Management Inc. bought a new stake in Fulgent Genetics worth approximately $29,000 in the second quarter. Geneos Wealth Management Inc. increased its stake in Fulgent Genetics by 416.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 491 shares of the company worth $30,000 after purchasing an additional 396 shares in the last quarter. First Quadrant LLC CA purchased a new position in Fulgent Genetics stock worth approximately $43,000 in the first quarter. Nisa Investment Advisors LLC acquired a new position in Fulgent Genetics stock worth approximately $44,000 in the first quarter. Finally, in the fourth quarter, Rise Advisors LLC acquired a new position in Fulgent Genetics stock worth approximately $46,000. 37.61% of the shares are held by institutional investors.

Fulgent Genetics Company Profile

(Get rating)

Fulgent Genetics, Inc, along with its subsidiaries, provides COVID-19, molecular diagnostics, and genetic testing services to physicians and patients in the United States and internationally. The company offers genetic testing consisting of Focus and comprehensive oncology panel testing; Beacon carrier screening panels testing for genetic disorders; molecular profiling of solid tumors for somatic cancer testing; rapid full genome testing for children in NICU and PICU; neonatal genetic analysis panel; single first-line test to detect ataxia-related variants and repeated extensions through sequencing; photogenetics, a patient-initiated genetic test; whole exome and clinical exome panel tests; full genome, mutation and repeat extension testing services, as well as testing for research services.

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