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Franklin Resources Buys Fulgent Shares Amid Analyst Downgrade

1/3/2025

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Summary

Story summary

Franklin Resources Inc. made a strategic move by acquiring 10,548 shares of Fulgent Genetics for $215,000 in Q3, joining other investors who are boosting their stakes. However, analysts have turned cautious, downgrading Fulgent from "hold" to "sell" and slashing the price target to $22. CEO Ming Hsieh also sold shares worth $40,665, slightly trimming his ownership as Fulgent's stock hovers at $18.42, with a market cap of $563.41 million.

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Story summary

Franklin Resources Inc. made a strategic move by acquiring 10,548 shares of Fulgent Genetics for $215,000 in Q3, joining other investors who are boosting their stakes. However, analysts have turned cautious, downgrading Fulgent from "hold" to "sell" and slashing the price target to $22. CEO Ming Hsieh also sold shares worth $40,665, slightly trimming his ownership as Fulgent's stock hovers at $18.42, with a market cap of $563.41 million.