Fulgent Genetics (NASDAQ:FLGT) Reaches New 52-Week Low at $20.32

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

Analysts Set New Price Targets

Separately, Piper Sandler cut 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 Up 1.2 %

The firm’s 50-day moving average is $22.76 and its 200 day moving average is $25.39. The firm has a market capitalization of $608.76 million, a price-to-earnings ratio of -3.57 and a beta of 1.43.

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

Institutional Investors Weigh In On Fulgent Genetics

A number of institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Fulgent Genetics by 4.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,947 shares of the company’s stock valued at $207,000 after purchasing an additional 316 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Fulgent Genetics by 2.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 14,988 shares of the company’s stock valued at $467,000 after purchasing an additional 353 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Fulgent Genetics by 5.9% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 6,421 shares of the company’s stock valued at $238,000 after purchasing an additional 355 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Fulgent Genetics by 416.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 491 shares of the company’s stock valued at $30,000 after purchasing an additional 396 shares during the last quarter. Finally, Covington Capital Management boosted its stake in shares of Fulgent Genetics by 133.3% in the 3rd quarter. Covington Capital Management now owns 700 shares of the company’s stock valued at $27,000 after purchasing an additional 400 shares during the last quarter. 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.