Fulgent Genetics, Inc. $FLGT Shares Purchased by Almitas Capital LLC

Key Points

• Almitas Capital LLC increased its stake in Fulgent Genetics by 79.5% in Q1, now holding 28,718 shares valued at $485,000.
• Fulgent Genetics reported earnings per share (EPS) of $0.07, significantly beating estimates of ($0.23), with revenues of $81.80 million, up 15.2% year-over-year.
• Analysts have a Moderate Buy rating on the stock, with a target price averaging $25.33 following upgrades, including UBS raising its target to $30.00.

Almitas Capital LLC lifted its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 79.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,718 shares of the company's stock after purchasing an additional 12,718 shares during the quarter. Almitas Capital LLC owned about 0.09% of Fulgent Genetics worth $485,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Northern Trust Corp lifted its stake in shares of Fulgent Genetics by 5.8% in the 4th quarter. Northern Trust Corp now owns 225,362 shares of the company's stock worth $4,162,000 after acquiring an additional 12,291 shares during the period. Peapod Lane Capital LLC raised its holdings in Fulgent Genetics by 48.2% during the first quarter. Peapod Lane Capital LLC now owns 162,227 shares of the company's stock worth $2,742,000 after purchasing an additional 52,768 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Fulgent Genetics by 16.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 243,979 shares of the company's stock valued at $4,123,000 after purchasing an additional 33,768 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Fulgent Genetics in the 1st quarter valued at approximately $1,050,000. Finally, Squarepoint Ops LLC increased its position in Fulgent Genetics by 178.3% during the 4th quarter. Squarepoint Ops LLC now owns 41,608 shares of the company's stock worth $768,000 after purchasing an additional 26,659 shares during the period. 48.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fulgent Genetics

In other news, COO Jian Xie sold 1,199 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $21.48, for a total transaction of $25,754.52. Following the completion of the transaction, the chief operating officer directly owned 365,249 shares of the company's stock, valued at $7,845,548.52. This trade represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 5,577 shares of company stock worth $121,024. Company insiders own 31.76% of the company's stock.

Wall Street Analysts Forecast Growth

FLGT has been the subject of several recent analyst reports. UBS Group raised Fulgent Genetics from a "neutral" rating to a "buy" rating and raised their price target for the company from $20.00 to $30.00 in a report on Tuesday, August 5th. Piper Sandler set a $21.00 target price on Fulgent Genetics and gave the company a "neutral" rating in a report on Monday, August 4th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.33.

Fulgent Genetics Trading Down 0.1%

Shares of FLGT stock traded down $0.03 during mid-day trading on Friday, reaching $21.95. The stock had a trading volume of 179,792 shares, compared to its average volume of 201,497. The company has a market cap of $671.89 million, a P/E ratio of -13.22 and a beta of 0.82. Fulgent Genetics, Inc. has a 12-month low of $14.57 and a 12-month high of $23.56. The business has a 50-day simple moving average of $20.06 and a 200 day simple moving average of $19.12.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.30. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The business had revenue of $81.80 million for the quarter, compared to analyst estimates of $76.21 million. During the same period in the previous year, the firm earned $0.15 EPS. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. Research analysts anticipate that Fulgent Genetics, Inc. will post -0.85 EPS for the current year.

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.