Piper Sandler Cuts Fulgent Genetics (NASDAQ:FLGT) Price Target to $16.00

Fulgent Genetics (NASDAQ:FLGT) had its price target cut by Piper Sandler from $22.00 to $16.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Separately, StockNews.com downgraded shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

Fulgent Genetics Stock Up 7.5 %

Shares of NASDAQ:FLGT opened at $17.90 on Tuesday. The company has a 50 day moving average of $17.14 and a two-hundred day moving average of $19.29. Fulgent Genetics has a 52-week low of $14.57 and a 52-week high of $25.11. The company has a market capitalization of $547.51 million, a price-to-earnings ratio of -3.24 and a beta of 1.39.

Insider Activity at Fulgent Genetics

In other Fulgent Genetics news, CFO Paul Kim acquired 100,000 shares of Fulgent Genetics stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the transaction, the chief financial officer now owns 348,282 shares in the company, valued at approximately $5,558,580.72. This represents a 40.28 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 31.76% of the company’s stock.

Institutional Trading of Fulgent Genetics

Several large investors have recently added to or reduced their stakes in FLGT. GAMMA Investing LLC boosted its position in Fulgent Genetics by 45.5% during the 4th quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock worth $39,000 after acquiring an additional 667 shares during the period. Point72 DIFC Ltd bought a new position in Fulgent Genetics in the 3rd quarter valued at about $46,000. Russell Investments Group Ltd. increased its stake in Fulgent Genetics by 267.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company’s stock valued at $50,000 after buying an additional 1,960 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Fulgent Genetics during the 4th quarter worth about $57,000. Finally, State of Wyoming acquired a new stake in shares of Fulgent Genetics in the 4th quarter worth approximately $57,000. 48.06% of the stock is currently owned by institutional investors and hedge funds.

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.