Bank of America Corp DE Has $1.48 Million Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Bank of America Corp DE decreased its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 41.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,061 shares of the company's stock after selling 57,224 shares during the period. Bank of America Corp DE owned 0.26% of Fulgent Genetics worth $1,479,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Fulgent Genetics by 2.2% during the fourth 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 in the last quarter. Ameriprise Financial Inc. raised its position in Fulgent Genetics by 40.8% in the 4th quarter. Ameriprise Financial Inc. now owns 501,809 shares of the company's stock worth $9,268,000 after purchasing an additional 145,518 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Fulgent Genetics by 39.4% during the 4th quarter. JPMorgan Chase & Co. now owns 471,259 shares of the company's stock worth $8,704,000 after buying an additional 133,215 shares in the last quarter. Northern Trust Corp boosted its position in Fulgent Genetics by 5.8% in the 4th quarter. Northern Trust Corp now owns 225,362 shares of the company's stock valued at $4,162,000 after buying an additional 12,291 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Fulgent Genetics by 14.0% in the 4th quarter. Invesco Ltd. now owns 181,714 shares of the company's stock valued at $3,356,000 after buying an additional 22,301 shares during the last quarter. Institutional investors own 48.06% of the company's stock.

Fulgent Genetics Stock Performance

FLGT traded up $0.61 during trading on Friday, reaching $21.43. 294,628 shares of the company's stock were exchanged, compared to its average volume of 283,022. The company's fifty day moving average price is $19.08 and its 200-day moving average price is $18.15. The firm has a market capitalization of $652.41 million, a PE ratio of -3.88 and a beta of 1.00. Fulgent Genetics, Inc. has a fifty-two week low of $14.57 and a fifty-two week high of $25.11.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.22. The business 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 firm's revenue was up 14.0% on a year-over-year basis. During the same period last year, the company earned ($0.01) EPS. Research analysts forecast that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

Insider Transactions at Fulgent Genetics

In other news, COO Jian Xie sold 1,873 shares of Fulgent Genetics stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $20.54, for a total transaction of $38,471.42. Following the transaction, the chief operating officer now directly owns 372,631 shares of the company's stock, valued at $7,653,840.74. This trade represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 31.76% of the company's stock.

Analyst Ratings Changes

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