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 grew its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 79.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,718 shares of the company's stock after purchasing an additional 12,718 shares during the quarter. Almitas Capital LLC owned approximately 0.09% of Fulgent Genetics worth $485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northern Trust Corp raised its holdings in shares of Fulgent Genetics by 5.8% in the fourth quarter. Northern Trust Corp now owns 225,362 shares of the company's stock valued at $4,162,000 after acquiring an additional 12,291 shares in the last quarter. Peapod Lane Capital LLC raised its holdings in shares of Fulgent Genetics by 48.2% in the first quarter. Peapod Lane Capital LLC now owns 162,227 shares of the company's stock valued at $2,742,000 after acquiring an additional 52,768 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 33,768 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Fulgent Genetics in the first quarter valued at about $1,050,000. Finally, Squarepoint Ops LLC raised its holdings in Fulgent Genetics by 178.3% in the fourth quarter. Squarepoint Ops LLC now owns 41,608 shares of the company's stock worth $768,000 after purchasing an additional 26,659 shares in the last quarter. 48.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Fulgent Genetics news, COO Jian Xie sold 1,199 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $21.48, for a total value of $25,754.52. Following the sale, the chief operating officer owned 365,249 shares in the company, valued at approximately $7,845,548.52. This represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 5,577 shares of company stock valued at $121,024. Corporate insiders own 33.11% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on FLGT shares. Piper Sandler set a $21.00 target price on shares of Fulgent Genetics and gave the stock a "neutral" rating in a report on Monday, August 4th. UBS Group upgraded shares of Fulgent Genetics from a "neutral" rating to a "buy" rating and upped their price objective for the company from $20.00 to $30.00 in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Fulgent Genetics currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.33.

Fulgent Genetics Stock Performance

NASDAQ FLGT traded up $0.10 during trading hours on Monday, reaching $22.05. The stock had a trading volume of 41,333 shares, compared to its average volume of 346,124. The stock has a fifty day moving average of $20.06 and a 200 day moving average of $19.15. The stock has a market cap of $674.80 million, a P/E ratio of -13.32 and a beta of 0.81. Fulgent Genetics, Inc. has a 52-week low of $14.57 and a 52-week high of $23.56.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.30. The firm had revenue of $81.80 million for the quarter, compared to analyst estimates of $76.21 million. Fulgent Genetics had a negative return on equity of 2.26% and a negative net margin of 16.83%.Fulgent Genetics's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. On average, equities research analysts forecast 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.