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

Several other equities analysts have also weighed in on FLGT. TheStreet raised shares of Fulgent Genetics from a “d” rating to a “c-” rating in a research report on Friday, March 1st. Credit Suisse Group lowered shares of Fulgent Genetics from an “outperform” rating to a “neutral” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Fulgent Genetics presently has an average rating of “Hold” and an average target price of $5.68.

Shares of FLGT opened at $5.38 on Tuesday. The company has a market cap of $98.56 million, a P/E ratio of -28.32 and a beta of 1.41. Fulgent Genetics has a twelve month low of $3.02 and a twelve month high of $7.85.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $5.37 million for the quarter, compared to the consensus estimate of $5.46 million. Fulgent Genetics had a negative net margin of 20.33% and a negative return on equity of 7.05%. On average, equities analysts expect that Fulgent Genetics will post -0.16 EPS for the current year.

In other Fulgent Genetics news, insider Ming Hsieh acquired 8,739 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased at an average price of $4.95 per share, with a total value of $43,258.05. Following the completion of the transaction, the insider now owns 6,579,326 shares in the company, valued at $32,567,663.70. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 57.80% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Essex Investment Management Co. LLC acquired a new position in Fulgent Genetics during the fourth quarter worth approximately $261,000. Old West Investment Management LLC grew its stake in Fulgent Genetics by 8.5% during the fourth quarter. Old West Investment Management LLC now owns 434,454 shares of the company’s stock worth $1,377,000 after buying an additional 34,140 shares during the period. Brown Advisory Inc. purchased a new stake in Fulgent Genetics during the fourth quarter worth approximately $46,000. Financial Advisors LLC purchased a new stake in Fulgent Genetics during the fourth quarter worth approximately $35,000. Finally, Renaissance Technologies LLC purchased a new stake in Fulgent Genetics during the first quarter worth approximately $155,000. Institutional investors own 6.62% of the company’s stock.

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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