Fulgent Genetics (NASDAQ:FLGT) Downgraded by StockNews.com to "Sell"

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Wednesday.

Separately, Piper Sandler dropped 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 report on Monday, November 11th.

Fulgent Genetics Stock Up 1.0 %

Fulgent Genetics stock traded up $0.18 during mid-day trading on Wednesday, hitting $18.07. 155,004 shares of the company were exchanged, compared to its average volume of 185,564. The company has a market capitalization of $552.76 million, a PE ratio of -3.27 and a beta of 1.51. The business has a fifty day moving average of $19.96 and a 200 day moving average of $21.16. Fulgent Genetics has a 1-year low of $16.56 and a 1-year high of $30.68.

Insider Activity at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,227 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.26, for a total transaction of $40,665.02. Following the transaction, the chief executive officer now owns 703,711 shares in the company, valued at $12,849,762.86. This represents a 0.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 3,413 shares of company stock valued at $62,321 in the last three months. Corporate insiders own 32.66% of the company's stock.

Institutional Investors Weigh In On Fulgent Genetics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLGT. Franklin Resources Inc. bought a new position in Fulgent Genetics in the 3rd quarter valued at $215,000. Geode Capital Management LLC lifted its stake in shares of Fulgent Genetics by 2.7% during the third quarter. Geode Capital Management LLC now owns 502,869 shares of the company's stock valued at $10,930,000 after acquiring an additional 13,320 shares during the period. Barclays PLC boosted its holdings in Fulgent Genetics by 22.6% in the third quarter. Barclays PLC now owns 174,855 shares of the company's stock valued at $3,800,000 after acquiring an additional 32,250 shares during the last quarter. State Street Corp increased its position in Fulgent Genetics by 1.4% in the third quarter. State Street Corp now owns 793,545 shares of the company's stock worth $17,244,000 after purchasing an additional 10,868 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in Fulgent Genetics in the third quarter worth about $46,000. Institutional investors and hedge funds own 48.06% of the company's stock.

About Fulgent Genetics

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.