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

Bank of America Corp DE trimmed its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 41.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 80,061 shares of the company's stock after selling 57,224 shares during the period. Bank of America Corp DE owned approximately 0.26% of Fulgent Genetics worth $1,479,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FLGT. Barclays PLC lifted its holdings in shares of Fulgent Genetics by 22.6% during the 3rd 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. Empowered Funds LLC lifted its holdings in shares of Fulgent Genetics by 5.1% during the 4th quarter. Empowered Funds LLC now owns 95,011 shares of the company's stock worth $1,755,000 after acquiring an additional 4,609 shares during the period. Peapod Lane Capital LLC bought a new position in shares of Fulgent Genetics during the 4th quarter worth about $2,022,000. Principal Financial Group Inc. lifted its holdings in shares of Fulgent Genetics by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 97,926 shares of the company's stock worth $1,809,000 after acquiring an additional 3,615 shares during the period. Finally, TCW Group Inc. lifted its holdings in shares of Fulgent Genetics by 2.7% during the 4th quarter. TCW Group Inc. now owns 123,400 shares of the company's stock worth $2,279,000 after acquiring an additional 3,300 shares during the period. 48.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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

Fulgent Genetics Stock Up 2.9%

NASDAQ:FLGT traded up $0.61 on Friday, reaching $21.43. The stock had a trading volume of 294,628 shares, compared to its average volume of 284,463. The company has a market capitalization of $652.41 million, a P/E ratio of -3.88 and a beta of 1.06. Fulgent Genetics, Inc. has a 1-year low of $14.57 and a 1-year high of $25.11. The stock has a fifty day moving average price of $19.16 and a 200-day moving average price of $18.20.

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

Fulgent Genetics Company 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.