62,863 Shares in Fulgent Genetics, Inc. $FLGT Acquired by Caxton Associates LLP

Key Points

• Caxton Associates LLP acquired 62,863 shares of Fulgent Genetics, Inc., valued at approximately $1,062,000, representing a 0.21% stake in the company.
• Fulgent Genetics reported quarterly earnings of $0.07 per share, surpassing analysts' expectations of ($0.23), with a revenue increase of 15.2% year-over-year.
• Analysts have given Fulgent Genetics a consensus rating of "Moderate Buy," with an average price target of $25.33 following recent upgrades from UBS Group and Piper Sandler.

Caxton Associates LLP purchased a new stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 62,863 shares of the company's stock, valued at approximately $1,062,000. Caxton Associates LLP owned 0.21% of Fulgent Genetics at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. State of Wyoming acquired a new stake in shares of Fulgent Genetics during the fourth quarter valued at approximately $57,000. PNC Financial Services Group Inc. raised its holdings in shares of Fulgent Genetics by 122.8% during the first quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company's stock valued at $60,000 after acquiring an additional 1,963 shares during the period. GAMMA Investing LLC raised its holdings in shares of Fulgent Genetics by 106.4% during the first quarter. GAMMA Investing LLC now owns 4,402 shares of the company's stock valued at $74,000 after acquiring an additional 2,269 shares during the period. Headlands Technologies LLC raised its holdings in shares of Fulgent Genetics by 8.0% during the first quarter. Headlands Technologies LLC now owns 7,041 shares of the company's stock valued at $119,000 after acquiring an additional 524 shares during the period. Finally, Easterly Investment Partners LLC acquired a new stake in shares of Fulgent Genetics during the first quarter valued at approximately $198,000. Institutional investors and hedge funds own 48.06% of the company's stock.

Insider Buying and Selling

In related news, COO Jian Xie sold 1,199 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $21.48, for a total transaction of $25,754.52. Following the completion of the sale, the chief operating officer directly owned 365,249 shares of the company's stock, valued at approximately $7,845,548.52. This represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 5,577 shares of company stock valued at $121,024 over the last ninety days. Insiders own 31.76% of the company's stock.

Fulgent Genetics Stock Down 1.7%

FLGT stock traded down $0.37 during trading hours on Friday, hitting $21.88. The company's stock had a trading volume of 178,433 shares, compared to its average volume of 196,001. The company has a market capitalization of $669.75 million, a PE ratio of -13.18 and a beta of 0.82. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $23.56. The stock has a 50 day moving average price of $20.27 and a two-hundred day moving average price of $19.31.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.30. The company had revenue of $81.80 million during the quarter, compared to the consensus estimate of $76.21 million. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. Sell-side analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on FLGT. 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 research note on Tuesday, August 5th. Piper Sandler set a $21.00 price objective on shares of Fulgent Genetics and gave the company a "neutral" rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Fulgent Genetics presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.33.

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.