Piper Sandler Lowers Fulgent Genetics (NASDAQ:FLGT) Price Target to $16.00

Fulgent Genetics (NASDAQ:FLGT) had its target price decreased by equities researchers at Piper Sandler from $22.00 to $16.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential downside of 3.90% from the stock’s current price.

Separately, StockNews.com downgraded shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock opened at $16.65 on Tuesday. The firm has a market capitalization of $509.27 million, a PE ratio of -3.02 and a beta of 1.39. The company’s fifty day moving average price is $17.15 and its two-hundred day moving average price is $19.30. Fulgent Genetics has a 52-week low of $14.57 and a 52-week high of $25.11.

Insider Buying and Selling

In related news, CFO Paul Kim purchased 100,000 shares of Fulgent Genetics stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the transaction, the chief financial officer now directly owns 348,282 shares in the company, valued at approximately $5,558,580.72. This represents a 40.28 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 31.76% of the stock is owned by corporate insiders.

Institutional Trading of Fulgent Genetics

A number of large investors have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new position in Fulgent Genetics during the 3rd quarter worth approximately $46,000. GAMMA Investing LLC boosted its position in Fulgent Genetics by 45.5% during the 4th quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock worth $39,000 after acquiring an additional 667 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Fulgent Genetics by 267.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company’s stock worth $50,000 after acquiring an additional 1,960 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Fulgent Genetics during the 4th quarter worth approximately $57,000. Finally, State of Wyoming acquired a new position in Fulgent Genetics during the 4th quarter worth approximately $57,000. 48.06% of the stock is owned by institutional investors.

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.