Almitas Capital LLC Acquires New Shares in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Almitas Capital LLC bought a new stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,000 shares of the company's stock, valued at approximately $296,000. Almitas Capital LLC owned about 0.05% of Fulgent Genetics as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Fulgent Genetics by 45.5% in the 4th quarter. GAMMA Investing LLC now owns 2,133 shares of the company's stock worth $39,000 after purchasing an additional 667 shares during the period. Russell Investments Group Ltd. lifted its stake in 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 purchasing an additional 1,960 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Fulgent Genetics in the fourth quarter worth $57,000. R Squared Ltd purchased a new stake in Fulgent Genetics during the fourth quarter valued at about $74,000. Finally, Headlands Technologies LLC bought a new position in shares of Fulgent Genetics during the fourth quarter valued at about $120,000. Institutional investors own 48.06% of the company's stock.

Analyst Ratings Changes

FLGT has been the subject of several analyst reports. Piper Sandler restated a "neutral" rating and set a $23.00 target price (up from $16.00) on shares of Fulgent Genetics in a report on Tuesday. Raymond James restated an "outperform" rating and issued a $25.00 target price (up previously from $24.00) on shares of Fulgent Genetics in a report on Monday. Finally, StockNews.com upgraded shares of Fulgent Genetics from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th.

Fulgent Genetics Trading Down 1.1 %

NASDAQ FLGT traded down $0.21 on Wednesday, hitting $18.62. The company's stock had a trading volume of 127,885 shares, compared to its average volume of 267,861. Fulgent Genetics, Inc. has a 52-week low of $14.57 and a 52-week high of $25.11. The firm has a market cap of $574.57 million, a P/E ratio of -3.38 and a beta of 1.00. The company's 50-day simple moving average is $17.59 and its 200 day simple moving average is $18.07.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.22. The business had revenue of $73.46 million for the quarter, compared to the consensus estimate of $71.26 million. Fulgent Genetics had a negative net margin of 59.39% and a negative return on equity of 1.81%. The company's quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) EPS. On average, research analysts forecast that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.

Insider Transactions at Fulgent Genetics

In related news, CFO Paul Kim purchased 100,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the purchase, the chief financial officer now directly owns 348,282 shares of the company's stock, valued at approximately $5,558,580.72. This represents a 40.28 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 33.11% of the company's stock.

Fulgent Genetics 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.