Fulgent Genetics (NASDAQ:FLGT) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a hold rating to a sell rating in a report published on Saturday.

Other analysts have also recently issued research reports about the company. Zacks Research cut Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Raymond James Financial reiterated an “outperform” rating and set a $36.00 price target on shares of Fulgent Genetics in a report on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Thursday, January 22nd. Finally, Piper Sandler increased their price objective on Fulgent Genetics from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.00.

Fulgent Genetics Stock Performance

Shares of FLGT opened at $14.63 on Friday. The company’s 50 day moving average price is $24.37 and its 200 day moving average price is $24.60. Fulgent Genetics has a 52 week low of $13.46 and a 52 week high of $31.04. The company has a market capitalization of $456.91 million, a PE ratio of -7.46 and a beta of 0.94.

Fulgent Genetics (NASDAQ:FLGT) last released its earnings results on Friday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.14. The company had revenue of $83.34 million during the quarter, compared to the consensus estimate of $85.38 million. Fulgent Genetics had a negative net margin of 18.75% and a negative return on equity of 2.22%. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. On average, equities analysts forecast that Fulgent Genetics will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fulgent Genetics

Several institutional investors have recently bought and sold shares of FLGT. Caitong International Asset Management Co. Ltd boosted its stake in shares of Fulgent Genetics by 214.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock worth $48,000 after acquiring an additional 1,251 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Fulgent Genetics by 33.1% in the 4th quarter. XTX Topco Ltd now owns 22,195 shares of the company’s stock valued at $583,000 after acquiring an additional 5,523 shares in the last quarter. Susquehanna Portfolio Strategies LLC lifted its holdings in Fulgent Genetics by 13.4% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 38,480 shares of the company’s stock worth $1,011,000 after purchasing an additional 4,560 shares during the last quarter. RTW Investments LP acquired a new stake in Fulgent Genetics in the 4th quarter worth approximately $18,521,000. Finally, Oxford Asset Management LLP bought a new stake in Fulgent Genetics during the fourth quarter worth approximately $254,000. 48.06% of the stock is currently owned by institutional investors.

About Fulgent Genetics

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.