Fulgent Genetics Inc (FLGT) Rating Lowered to Sell at Zacks Investment Research

Fulgent Genetics Inc (NASDAQ:FLGT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

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. “

Shares of Fulgent Genetics (NASDAQ:FLGT) opened at 10.55 on Wednesday. Fulgent Genetics has a 52 week low of $7.59 and a 52 week high of $13.90. The company’s market capitalization is $186.48 million. The firm’s 50-day moving average is $10.96 and its 200 day moving average is $10.64.

Fulgent Genetics (NASDAQ:FLGT) last issued its earnings results on Monday, February 27th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $5.85 million for the quarter, compared to the consensus estimate of $5.99 million. On average, analysts anticipate that Fulgent Genetics will post $0.37 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of FLGT. Putnam Investments LLC raised its position in shares of Fulgent Genetics by 1.2% in the fourth quarter. Putnam Investments LLC now owns 374,700 shares of the company’s stock worth $4,335,000 after buying an additional 4,400 shares in the last quarter. Baker BROS. Advisors LP acquired a new position in shares of Fulgent Genetics during the third quarter worth $1,153,000. Laurion Capital Management LP acquired a new position in shares of Fulgent Genetics during the third quarter worth $277,000. Finally, Monashee Investment Management LLC acquired a new position in shares of Fulgent Genetics during the third quarter worth $2,584,000. Hedge funds and other institutional investors own 13.40% of the company’s stock.

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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