Fulgent Genetic (NASDAQ:FLGT) has received a consensus broker rating score of 1.50 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company.
Brokers have set a twelve-month consensus target price of $10.75 for the company, according to Zacks. Zacks has also assigned Fulgent Genetic an industry rank of 171 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded Fulgent Genetic from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th.
In other news, insider Ming Hsieh acquired 30,000 shares of Fulgent Genetic stock in a transaction on Tuesday, June 13th. The stock was purchased at an average price of $4.98 per share, with a total value of $149,400.00. Following the completion of the purchase, the insider now owns 6,459,944 shares of the company’s stock, valued at approximately $32,170,521.12. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.
A number of large investors have recently made changes to their positions in the stock. Scholtz & Company LLC boosted its position in shares of Fulgent Genetic by 50.3% in the first quarter. Scholtz & Company LLC now owns 266,705 shares of the company’s stock valued at $2,912,000 after buying an additional 89,205 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Fulgent Genetic during the first quarter valued at about $6,330,000. Blair William & Co. IL bought a new position in shares of Fulgent Genetic during the first quarter valued at about $287,000. Bank of New York Mellon Corp bought a new position in shares of Fulgent Genetic during the first quarter valued at about $122,000. Finally, Wells Fargo & Company MN boosted its position in shares of Fulgent Genetic by 2,046.0% in the first quarter. Wells Fargo & Company MN now owns 10,730 shares of the company’s stock valued at $118,000 after buying an additional 10,230 shares during the last quarter. 19.78% of the stock is owned by hedge funds and other institutional investors.
Shares of Fulgent Genetic (NASDAQ FLGT) traded up 1.85% during trading on Monday, reaching $6.62. 22,637 shares of the company traded hands. The stock’s 50 day moving average price is $6.23 and its 200-day moving average price is $9.42. Fulgent Genetic has a 12 month low of $4.49 and a 12 month high of $13.90. The stock’s market cap is $117.12 million.
Fulgent Genetic (NASDAQ:FLGT) last issued its quarterly earnings data on Monday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.01. The firm had revenue of $5.31 million during the quarter, compared to the consensus estimate of $5.85 million. On average, equities research analysts expect that Fulgent Genetic will post $0.16 EPS for the current fiscal year.
Fulgent Genetic 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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