Ameriprise Financial Inc. Acquires 145,518 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Ameriprise Financial Inc. grew its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 40.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 501,809 shares of the company's stock after purchasing an additional 145,518 shares during the period. Ameriprise Financial Inc. owned about 1.64% of Fulgent Genetics worth $9,268,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FLGT. Barclays PLC grew its holdings in shares of Fulgent Genetics by 22.6% in the third quarter. Barclays PLC now owns 174,855 shares of the company's stock worth $3,800,000 after acquiring an additional 32,250 shares during the period. Exchange Traded Concepts LLC lifted its position in Fulgent Genetics by 5.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 35,324 shares of the company's stock valued at $652,000 after purchasing an additional 1,689 shares in the last quarter. R Squared Ltd purchased a new position in Fulgent Genetics during the fourth quarter valued at $74,000. Empowered Funds LLC lifted its position in Fulgent Genetics by 5.1% during the fourth quarter. Empowered Funds LLC now owns 95,011 shares of the company's stock valued at $1,755,000 after purchasing an additional 4,609 shares in the last quarter. Finally, Peapod Lane Capital LLC purchased a new position in Fulgent Genetics during the fourth quarter valued at $2,022,000. Institutional investors own 48.06% of the company's stock.

Fulgent Genetics Stock Performance

Shares of Fulgent Genetics stock traded down $0.21 during trading hours on Friday, hitting $20.31. The company's stock had a trading volume of 213,204 shares, compared to its average volume of 277,954. The business has a 50 day moving average price of $18.41 and a two-hundred day moving average price of $18.06. Fulgent Genetics, Inc. has a 12-month low of $14.57 and a 12-month high of $25.11. The company has a market cap of $618.32 million, a PE ratio of -3.68 and a beta of 1.00.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.22. Fulgent Genetics had a negative return on equity of 1.81% and a negative net margin of 59.39%. The business had revenue of $73.46 million for the quarter, compared to the consensus estimate of $71.26 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The business's revenue was up 14.0% on a year-over-year basis. As a group, research analysts anticipate that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FLGT shares. Piper Sandler reiterated a "neutral" rating and set a $23.00 target price (up from $16.00) on shares of Fulgent Genetics in a research report on Tuesday, May 6th. Raymond James reiterated an "outperform" rating and set a $25.00 target price (up from $24.00) on shares of Fulgent Genetics in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded Fulgent Genetics from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th.

Insider Activity

In other news, CFO Paul Kim bought 100,000 shares of the firm'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 completion of the transaction, the chief financial officer now owns 348,282 shares of the company's stock, valued at approximately $5,558,580.72. This represents a 40.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 31.76% of the company's stock.

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.