Fulgent Genetics (FLGT) Stock Rating Upgraded by Zacks Investment Research

Fulgent Genetics (NASDAQ:FLGT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Fulgent Genetics, Inc. is a technology company. It provide genetic testing services to physicians with clinically actionable diagnostic information. The Company’s technology platform integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory process which serves primarily to hospitals and medical institutions. Fulgent Genetics, Inc. is headquartered in Temple City, California. “

A number of other equities research analysts also recently issued reports on FLGT. ValuEngine upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Piper Jaffray Companies restated a “buy” rating on shares of Fulgent Genetics in a research report on Tuesday, October 24th. Credit Suisse Group decreased their price objective on Fulgent Genetics from $10.00 to $7.50 and set an “outperform” rating on the stock in a research report on Tuesday, November 7th. Finally, Raymond James Financial downgraded Fulgent Genetics from an “outperform” rating to a “mkt perform” rating in a research report on Tuesday, November 7th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Fulgent Genetics has an average rating of “Buy” and an average target price of $7.25.

Shares of Fulgent Genetics (NASDAQ:FLGT) traded up $0.05 during mid-day trading on Tuesday, reaching $4.64. The company’s stock had a trading volume of 11,300 shares, compared to its average volume of 23,500. Fulgent Genetics has a fifty-two week low of $2.72 and a fifty-two week high of $13.90. The stock has a market capitalization of $81.99 and a P/E ratio of 222.50.

In other Fulgent Genetics news, insider Ming Hsieh purchased 10,504 shares of Fulgent Genetics stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average cost of $3.30 per share, for a total transaction of $34,663.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders bought 33,488 shares of company stock worth $112,769. Company insiders own 58.80% of the company’s stock.

An institutional investor recently raised its position in Fulgent Genetics stock. Granahan Investment Management Inc. MA lifted its holdings in Fulgent Genetics Inc (NASDAQ:FLGT) by 145.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 238,232 shares of the company’s stock after buying an additional 141,182 shares during the quarter. Granahan Investment Management Inc. MA owned approximately 1.34% of Fulgent Genetics worth $1,141,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.42% of the company’s stock.

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Fulgent Genetics Company Profile

Fulgent Genetics, Inc is a technology company. The Company offers genetic testing to provide physicians with clinically actionable diagnostic information to improve quality of patient care. The Company has developed a technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes.

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