Fulgent Genetics (NASDAQ:FLGT) Reaches New 12-Month Low at $20.32

Fulgent Genetics, Inc. (NASDAQ:FLGT) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $20.32 and last traded at $20.37, with a volume of 83945 shares. The stock had previously closed at $20.72.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their target price on shares of Fulgent Genetics from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th.

Fulgent Genetics Trading Down 1.5 %

The stock has a fifty day simple moving average of $22.97 and a two-hundred day simple moving average of $25.47. The company has a market cap of $609.96 million, a PE ratio of -3.67 and a beta of 1.43.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.61. Fulgent Genetics had a negative return on equity of 3.04% and a negative net margin of 58.03%. The firm had revenue of $70.51 million for the quarter, compared to analyst estimates of $67.14 million. As a group, equities research analysts anticipate that Fulgent Genetics, Inc. will post -2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its holdings in Fulgent Genetics by 416.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 491 shares of the company’s stock valued at $30,000 after acquiring an additional 396 shares in the last quarter. Covington Capital Management increased its stake in shares of Fulgent Genetics by 133.3% during the 3rd quarter. Covington Capital Management now owns 700 shares of the company’s stock worth $27,000 after purchasing an additional 400 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Fulgent Genetics during the 3rd quarter worth approximately $34,000. Covestor Ltd raised its position in shares of Fulgent Genetics by 48.0% during the 3rd quarter. Covestor Ltd now owns 1,508 shares of the company’s stock worth $40,000 after purchasing an additional 489 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Fulgent Genetics in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

Fulgent Genetics Company Profile

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.