Dimensional Fund Advisors LP Sells 60,579 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Dimensional Fund Advisors LP lowered its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,045,815 shares of the company's stock after selling 60,579 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.42% of Fulgent Genetics worth $19,316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Fulgent Genetics by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 514,152 shares of the company's stock worth $9,499,000 after purchasing an additional 11,283 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Fulgent Genetics by 39.4% in the fourth quarter. JPMorgan Chase & Co. now owns 471,259 shares of the company's stock valued at $8,704,000 after acquiring an additional 133,215 shares during the last quarter. Invesco Ltd. boosted its holdings in Fulgent Genetics by 14.0% in the fourth quarter. Invesco Ltd. now owns 181,714 shares of the company's stock valued at $3,356,000 after acquiring an additional 22,301 shares during the last quarter. Barclays PLC increased its position in Fulgent Genetics by 3.2% in the fourth quarter. Barclays PLC now owns 180,397 shares of the company's stock worth $3,332,000 after purchasing an additional 5,542 shares during the period. Finally, Trexquant Investment LP raised its holdings in Fulgent Genetics by 47.0% during the 4th quarter. Trexquant Investment LP now owns 128,606 shares of the company's stock worth $2,375,000 after purchasing an additional 41,147 shares during the last quarter. Institutional investors and hedge funds own 48.06% of the company's stock.

Fulgent Genetics Stock Performance

NASDAQ:FLGT traded up $0.99 during trading hours on Friday, hitting $19.55. The stock had a trading volume of 369,014 shares, compared to its average volume of 270,662. The business's 50 day moving average is $17.80 and its 200-day moving average is $18.07. The company has a market cap of $603.43 million, a price-to-earnings ratio of -3.54 and a beta of 1.00. Fulgent Genetics, Inc. has a one year low of $14.57 and a one year high of $25.11.

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, topping the consensus estimate of ($0.18) by $0.22. The firm 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 company's revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) earnings per share. On average, sell-side analysts anticipate that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.

Insiders Place Their Bets

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 acquired at an average price of $15.96 per share, with a total value of $1,596,000.00. Following the transaction, the chief financial officer now owns 348,282 shares in the company, valued at $5,558,580.72. This represents a 40.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 33.11% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on FLGT. 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 note on Tuesday. StockNews.com upgraded Fulgent Genetics from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Raymond James reiterated an "outperform" rating and issued a $25.00 price objective (up previously from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th.

About Fulgent Genetics

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.