Cubist Systematic Strategies LLC boosted its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 70.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,393 shares of the company's stock after buying an additional 22,833 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.18% of Fulgent Genetics worth $1,023,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Fulgent Genetics by 45.5% during the fourth quarter. GAMMA Investing LLC now owns 2,133 shares of the company's stock worth $39,000 after buying an additional 667 shares during the last quarter. Russell Investments Group Ltd. raised its holdings 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 buying an additional 1,960 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Fulgent Genetics in the fourth quarter valued at about $57,000. R Squared Ltd bought a new position in shares of 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 and hedge funds own 48.06% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Piper Sandler reissued a "neutral" rating and set a $23.00 price target (up from $16.00) on shares of Fulgent Genetics in a research report on Tuesday, May 6th. StockNews.com raised shares of Fulgent Genetics from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Raymond James reissued an "outperform" rating and set a $25.00 price target (up from $24.00) on shares of Fulgent Genetics in a research report on Monday, May 5th.
Read Our Latest Analysis on Fulgent Genetics
Fulgent Genetics Stock Performance
NASDAQ FLGT opened at $20.29 on Wednesday. Fulgent Genetics, Inc. has a 52-week low of $14.57 and a 52-week high of $25.11. The company has a 50-day simple moving average of $17.92 and a 200 day simple moving average of $18.07. The company has a market capitalization of $617.71 million, a PE ratio of -3.68 and a beta of 1.00.
Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.22. Fulgent Genetics had a negative net margin of 59.39% and a negative return on equity of 1.81%. The business had revenue of $73.46 million during the quarter, compared to the consensus estimate of $71.26 million. During the same quarter last year, the company posted ($0.01) earnings per share. The firm's quarterly revenue was up 14.0% compared to the same quarter last year. As a group, analysts forecast that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.
Insider Buying and Selling
In other Fulgent Genetics news, CFO Paul Kim purchased 100,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the purchase, the chief financial officer now owns 348,282 shares of the company's stock, valued at $5,558,580.72. This represents a 40.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 31.76% of the stock is currently owned by corporate insiders.
About Fulgent Genetics
(
Free Report)
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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