Fulgent Genetics (NASDAQ:FLGT) Rating Lowered to Sell at StockNews.com

Fulgent Genetics (NASDAQ:FLGTGet Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Separately, Piper Sandler reduced their price objective on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, November 11th.

View Our Latest Research Report on FLGT

Fulgent Genetics Stock Performance

Shares of FLGT stock opened at $17.89 on Wednesday. The company has a market capitalization of $547.20 million, a price-to-earnings ratio of -3.24 and a beta of 1.51. Fulgent Genetics has a 52 week low of $16.56 and a 52 week high of $30.68. The company has a 50-day simple moving average of $20.05 and a 200 day simple moving average of $21.18.

Institutional Investors Weigh In On Fulgent Genetics

A number of institutional investors have recently modified their holdings of FLGT. State Board of Administration of Florida Retirement System bought a new stake in Fulgent Genetics in the 1st quarter valued at about $178,000. Vanguard Group Inc. boosted its stake in shares of Fulgent Genetics by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,424,448 shares of the company’s stock valued at $30,911,000 after buying an additional 8,257 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of Fulgent Genetics by 11.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 29,103 shares of the company’s stock valued at $631,000 after buying an additional 2,879 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Fulgent Genetics by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,261 shares of the company’s stock worth $310,000 after acquiring an additional 3,458 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Fulgent Genetics by 36.4% in the 2nd quarter. SG Americas Securities LLC now owns 12,826 shares of the company’s stock valued at $252,000 after acquiring an additional 3,425 shares in the last quarter. Institutional investors own 48.06% of the company’s stock.

About Fulgent Genetics

(Get Free Report)

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.

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