Almitas Capital LLC Purchases New Holdings in Fulgent Genetics, Inc. $FLGT

Key Points

• Almitas Capital LLC acquired 104,797 shares of Fulgent Genetics worth approximately $2.15 million, representing about 0.38% of the company. Institutional investors collectively own 48.06% of the stock.
• Fulgent Genetics reported weaker-than-expected quarterly results, with revenue of $85.39 million versus a $94 million estimate and an adjusted loss of $0.58 per share versus the expected $0.46 loss.
• Analyst sentiment remains cautious: the stock carries an average Hold rating and a $27.50 target price, while recent ratings included a downgrade to “strong sell” and a “neutral” outlook.

Almitas Capital LLC purchased a new position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 104,797 shares of the company's stock, valued at approximately $2,150,000. Almitas Capital LLC owned approximately 0.38% of Fulgent Genetics at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LP bought a new stake in Fulgent Genetics during the second quarter worth about $880,000. Bank of America Corp DE acquired a new stake in shares of Fulgent Genetics during the 2nd quarter worth approximately $3,603,000. Medina Value Partners LLC acquired a new stake in shares of Fulgent Genetics during the 2nd quarter worth approximately $3,961,612,000. Hsbc Holdings PLC bought a new position in Fulgent Genetics in the second quarter valued at approximately $915,000. Finally, Legal & General Group Plc bought a new position in Fulgent Genetics in the second quarter valued at approximately $38,000. Institutional investors own 48.06% of the company's stock.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock opened at $19.95 on Friday. Fulgent Genetics, Inc. has a fifty-two week low of $13.46 and a fifty-two week high of $31.04. The firm has a market capitalization of $548.82 million, a P/E ratio of -7.07 and a beta of 0.90. The company's 50 day moving average price is $19.59 and its two-hundred day moving average price is $18.14.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.12). Fulgent Genetics had a negative net margin of 26.05% and a negative return on equity of 4.93%. The firm had revenue of $85.39 million during the quarter, compared to the consensus estimate of $94.00 million. Fulgent Genetics has set its FY 2026 guidance at -2.350--2.220 EPS. On average, analysts expect that Fulgent Genetics, Inc. will post -3.48 earnings per share for the current year.

Insider Transactions at Fulgent Genetics

In other news, COO Jian Xie sold 2,146 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $38,391.94. Following the sale, the chief operating officer directly owned 367,605 shares in the company, valued at approximately $6,576,453.45. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hanlin Gao sold 1,688 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $30,198.32. Following the completion of the transaction, the insider directly owned 990,374 shares of the company's stock, valued at $17,717,790.86. This represents a 0.17% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 36.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen cut Fulgent Genetics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Piper Sandler raised their price objective on Fulgent Genetics from $15.00 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Fulgent Genetics in a research report on Monday, July 6th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Fulgent Genetics currently has an average rating of "Hold" and an average target price of $27.50.

Fulgent Genetics Profile

Fulgent Genetics, Inc NASDAQ: FLGT is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company's infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent's product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.

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