Fulgent Genetics (NASDAQ:FLGT) Stock Rating Lowered by Zacks Investment Research

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Fulgent Genetics (NASDAQ:FLGT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

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. “

FLGT has been the subject of several other research reports. Piper Jaffray Companies upgraded Fulgent Genetics from a “neutral” rating to an “overweight” rating and increased their target price for the company from $9.50 to $12.30 in a research note on Tuesday, November 5th. BidaskClub upgraded Fulgent Genetics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, ValuEngine upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $15.65.

NASDAQ:FLGT traded up $0.72 during mid-day trading on Friday, hitting $19.00. 187,302 shares of the company’s stock traded hands, compared to its average volume of 261,723. The firm has a 50 day moving average of $14.75 and a two-hundred day moving average of $12.44. Fulgent Genetics has a 12 month low of $4.33 and a 12 month high of $20.60. The firm has a market capitalization of $368.03 million, a price-to-earnings ratio of -379.92 and a beta of 1.04. The company has a current ratio of 9.22, a quick ratio of 9.22 and a debt-to-equity ratio of 0.04.

Institutional investors have recently bought and sold shares of the business. Calamos Advisors LLC acquired a new position in Fulgent Genetics in the 4th quarter valued at approximately $656,000. Russell Investments Group Ltd. acquired a new position in Fulgent Genetics in the 3rd quarter valued at approximately $27,000. BlackRock Inc. raised its holdings in Fulgent Genetics by 15.9% in the 2nd quarter. BlackRock Inc. now owns 16,607 shares of the company’s stock valued at $111,000 after acquiring an additional 2,281 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Fulgent Genetics in the 4th quarter valued at approximately $1,099,000. Finally, Cadence Capital Management LLC acquired a new position in Fulgent Genetics in the 4th quarter valued at approximately $2,108,000. 19.31% of the stock is owned by hedge funds and other institutional investors.

About Fulgent Genetics

Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, learning software, and genetic diagnostics tools and integrated laboratory processes.

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