Piper Sandler Has Lowered Expectations for Fulgent Genetics (NASDAQ:FLGT) Stock Price

Fulgent Genetics (NASDAQ:FLGT) had its price target trimmed by Piper Sandler from $26.00 to $22.00 in a report released on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Fulgent Genetics Price Performance

FLGT opened at $17.79 on Monday. Fulgent Genetics has a 1 year low of $17.65 and a 1 year high of $30.68. The business’s 50-day moving average is $20.85 and its two-hundred day moving average is $21.42. The firm has a market capitalization of $544.20 million, a PE ratio of -3.34 and a beta of 1.51.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,313 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $22.83, for a total transaction of $52,805.79. Following the transaction, the chief executive officer now directly owns 707,275 shares of the company’s stock, valued at $16,147,088.25. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 4,324 shares of company stock worth $98,717. 31.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Asset Dedication LLC acquired a new stake in Fulgent Genetics during the second quarter worth about $33,000. nVerses Capital LLC purchased a new position in Fulgent Genetics during the second quarter worth about $43,000. Signaturefd LLC increased its holdings in Fulgent Genetics by 103.6% in the 2nd quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock valued at $44,000 after purchasing an additional 1,132 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Fulgent Genetics in the second quarter valued at approximately $63,000. Finally, Gladius Capital Management LP acquired a new position in Fulgent Genetics during the 3rd quarter worth about $81,000. 48.06% of the stock is currently owned by institutional investors and hedge funds.

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.