Bridgeway Capital Management LLC Has $1.81 Million Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Bridgeway Capital Management LLC lessened its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,719 shares of the company's stock after selling 20,391 shares during the period. Bridgeway Capital Management LLC owned about 0.32% of Fulgent Genetics worth $1,805,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FLGT. JPMorgan Chase & Co. boosted its position in Fulgent Genetics by 113.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company's stock worth $7,346,000 after acquiring an additional 179,477 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Fulgent Genetics by 40.8% in the fourth quarter. Ameriprise Financial Inc. now owns 501,809 shares of the company's stock worth $9,268,000 after purchasing an additional 145,518 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Fulgent Genetics by 803.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,957 shares of the company's stock worth $2,326,000 after purchasing an additional 112,011 shares during the period. Peapod Lane Capital LLC purchased a new position in Fulgent Genetics during the fourth quarter valued at approximately $2,022,000. Finally, Trexquant Investment LP increased its stake in Fulgent Genetics by 47.0% in the 4th quarter. Trexquant Investment LP now owns 128,606 shares of the company's stock valued at $2,375,000 after buying an additional 41,147 shares during the period. Hedge funds and other institutional investors own 48.06% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, CFO Paul Kim bought 100,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the acquisition, the chief financial officer now directly owns 348,282 shares of the company's stock, valued at $5,558,580.72. The trade was a 40.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 33.11% of the company's stock.

Fulgent Genetics Stock Up 5.3 %

Shares of FLGT opened at $19.55 on Friday. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $25.11. The company's fifty day moving average is $17.80 and its 200-day moving average is $18.07. The firm has a market cap of $603.43 million, a price-to-earnings ratio of -3.54 and a beta of 1.00.

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

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.

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