Fulgent Genetics (NASDAQ:FLGT) Stock Price Up 5.5%

Fulgent Genetics, Inc. (NASDAQ:FLGT) traded up 5.5% during mid-day trading on Monday . The stock traded as high as $22.68 and last traded at $22.68. 30,821 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 198,101 shares. The stock had previously closed at $21.50.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their price objective on shares of Fulgent Genetics from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th.

Fulgent Genetics Stock Performance

The stock has a market capitalization of $636.48 million, a PE ratio of -3.82 and a beta of 1.43. The stock has a 50-day moving average price of $21.58 and a two-hundred day moving average price of $24.89.

Fulgent Genetics (NASDAQ:FLGT) last issued its earnings results on Wednesday, February 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.61. The company had revenue of $70.51 million for the quarter, compared to the consensus estimate of $67.14 million. Fulgent Genetics had a negative return on equity of 2.92% and a negative net margin of 57.72%. As a group, equities analysts predict that Fulgent Genetics, Inc. will post -2.04 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd raised its holdings in Fulgent Genetics by 48.0% during the 3rd quarter. Covestor Ltd now owns 1,508 shares of the company’s stock valued at $40,000 after buying an additional 489 shares during the period. Asset Management One Co. Ltd. grew its holdings in Fulgent Genetics by 60.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,039 shares of the company’s stock valued at $61,000 after purchasing an additional 771 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Fulgent Genetics by 20.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,902 shares of the company’s stock worth $131,000 after purchasing an additional 828 shares during the period. Teza Capital Management LLC bought a new stake in Fulgent Genetics in the third quarter worth about $200,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Fulgent Genetics during the first quarter valued at approximately $213,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

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.