Shares of Fulgent Genetic (NASDAQ:FLGT) have been given an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company. Fulgent Genetic’s rating score has declined by 33.3% in the last 90 days as a result of a number of analysts’ ratings changes.
Analysts have set a one year consensus target price of $7.00 for the company, according to Zacks. Zacks has also assigned Fulgent Genetic an industry rank of 224 out of 265 based on the ratings given to related companies.
Several research firms have weighed in on FLGT. Zacks Investment Research upgraded Fulgent Genetic from a “sell” rating to a “hold” rating in a research note on Monday, September 18th. Piper Jaffray Companies restated an “overweight” rating and set a $7.00 target price (down from $10.00) on shares of Fulgent Genetic in a research note on Wednesday, August 9th. Credit Suisse Group cut their target price on Fulgent Genetic from $10.00 to $7.50 and set an “outperform” rating for the company in a research note on Tuesday, November 7th. ValuEngine upgraded Fulgent Genetic from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Raymond James Financial, Inc. cut Fulgent Genetic from an “outperform” rating to a “mkt perform” rating in a research note on Tuesday, November 7th.
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In other Fulgent Genetic news, insider Ming Hsieh bought 10,504 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was 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 available through this hyperlink. Insiders have acquired 24,229 shares of company stock valued at $81,760 over the last 90 days. Corporate insiders own 58.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new stake in Fulgent Genetic during the first quarter worth $122,000. Wells Fargo & Company MN lifted its stake in Fulgent Genetic by 2,046.0% during the first quarter. Wells Fargo & Company MN now owns 10,730 shares of the company’s stock worth $118,000 after purchasing an additional 10,230 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Fulgent Genetic by 10.4% in the 2nd quarter. William Blair Investment Management LLC now owns 640,219 shares of the company’s stock valued at $4,091,000 after acquiring an additional 60,508 shares during the last quarter. Finally, Granahan Investment Management Inc. MA lifted its stake in shares of Fulgent Genetic by 145.5% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 238,232 shares of the company’s stock valued at $1,141,000 after acquiring an additional 141,182 shares during the last quarter. Hedge funds and other institutional investors own 16.55% of the company’s stock.
About Fulgent Genetic
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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