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

A number of other analysts also recently commented on FLGT. Piper Jaffray Companies upgraded Fulgent Genetics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $9.50 to $12.30 in a research note on Tuesday, November 5th. ValuEngine upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, BidaskClub upgraded Fulgent Genetics from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Fulgent Genetics has an average rating of “Hold” and an average target price of $14.15.

Shares of FLGT traded up $1.40 during mid-day trading on Friday, reaching $18.17. The company had a trading volume of 286,494 shares, compared to its average volume of 252,242. Fulgent Genetics has a 52-week low of $4.25 and a 52-week high of $18.25. The company has a quick ratio of 9.22, a current ratio of 9.22 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $315.83 million, a P/E ratio of -363.33 and a beta of 1.04. The stock has a 50 day moving average of $13.95 and a two-hundred day moving average of $12.03.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLGT. Russell Investments Group Ltd. acquired a new position in Fulgent Genetics in the 3rd quarter worth about $27,000. BlackRock Inc. raised its holdings in shares of Fulgent Genetics by 15.9% during the second quarter. BlackRock Inc. now owns 16,607 shares of the company’s stock valued at $111,000 after acquiring an additional 2,281 shares during the last quarter. Raymond James & Associates acquired a new position in shares of Fulgent Genetics during the fourth quarter valued at approximately $192,000. Sei Investments Co. acquired a new position in shares of Fulgent Genetics during the fourth quarter valued at approximately $213,000. Finally, Credit Suisse AG acquired a new position in shares of Fulgent Genetics during the fourth quarter valued at approximately $373,000. 15.95% of the stock is owned by institutional investors.

Fulgent Genetics Company Profile

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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