Inlight Wealth Management LLC Purchases New Stake in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Inlight Wealth Management LLC purchased a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 37,088 shares of the company's stock, valued at approximately $685,000. Inlight Wealth Management LLC owned 0.12% of Fulgent Genetics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Fulgent Genetics by 45.5% in the fourth quarter. GAMMA Investing LLC now owns 2,133 shares of the company's stock valued at $39,000 after acquiring an additional 667 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Fulgent Genetics by 5.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 35,324 shares of the company's stock worth $652,000 after buying an additional 1,689 shares during the last quarter. Centiva Capital LP increased its position in Fulgent Genetics by 16.5% during the 3rd quarter. Centiva Capital LP now owns 12,538 shares of the company's stock valued at $272,000 after buying an additional 1,774 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Fulgent Genetics by 4.4% in the fourth quarter. Federated Hermes Inc. now owns 41,882 shares of the company's stock worth $774,000 after acquiring an additional 1,774 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Fulgent Genetics by 267.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company's stock worth $50,000 after acquiring an additional 1,960 shares during the last quarter. 48.06% of the stock is currently owned by institutional investors.

Fulgent Genetics Stock Performance

NASDAQ FLGT traded down $0.38 during mid-day trading on Wednesday, reaching $18.70. 96,577 shares of the stock were exchanged, compared to its average volume of 415,638. The business's 50 day moving average is $17.00 and its 200-day moving average is $18.27. The company has a market capitalization of $577.19 million, a P/E ratio of -3.39 and a beta of 1.36. Fulgent Genetics, Inc. has a 1 year low of $14.57 and a 1 year high of $25.11.

Analyst Upgrades and Downgrades

FLGT has been the topic of several research analyst reports. StockNews.com raised shares of Fulgent Genetics from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. Piper Sandler reduced their target price on shares of Fulgent Genetics from $22.00 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th.

Insider Activity at Fulgent Genetics

In related news, CFO Paul Kim purchased 100,000 shares of Fulgent Genetics stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the transaction, the chief financial officer now directly owns 348,282 shares in the company, valued at approximately $5,558,580.72. This trade represents a 40.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 31.76% of the stock is owned by company insiders.

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.