Fulgent Genetics (NASDAQ:FLGT) Downgraded to “Sell” Rating by StockNews.com

Fulgent Genetics (NASDAQ:FLGT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

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

Fulgent Genetics Trading Up 3.1 %

NASDAQ:FLGT traded up $0.61 during mid-day trading on Monday, hitting $20.04. 267,382 shares of the company’s stock traded hands, compared to its average volume of 180,011. The firm has a 50 day moving average of $21.01 and a two-hundred day moving average of $21.44. Fulgent Genetics has a 12 month low of $18.76 and a 12 month high of $30.68. The firm has a market capitalization of $607.21 million, a price-to-earnings ratio of -3.63 and a beta of 1.51.

Insider Buying and Selling at Fulgent Genetics

In other news, CEO Ming Hsieh sold 2,313 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $22.83, for a total value of $52,805.79. Following the transaction, the chief executive officer now directly owns 707,275 shares in the company, valued at $16,147,088.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 4,324 shares of company stock worth $98,717. Insiders own 31.76% of the company’s stock.

Institutional Trading of Fulgent Genetics

Hedge funds and other institutional investors have recently modified their holdings of the company. Asset Dedication LLC bought a new stake in shares of Fulgent Genetics during the second quarter worth approximately $33,000. nVerses Capital LLC bought a new stake in shares of Fulgent Genetics during the second quarter worth approximately $43,000. Signaturefd LLC boosted its holdings in shares of Fulgent Genetics by 103.6% during the second quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock worth $44,000 after acquiring an additional 1,132 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Fulgent Genetics during the second quarter worth approximately $63,000. Finally, Gladius Capital Management LP bought a new stake in shares of Fulgent Genetics during the third quarter worth approximately $81,000. 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.