Caxton Associates LLP Invests $1.06 Million in Fulgent Genetics, Inc. $FLGT

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

A number of other institutional investors and hedge funds also recently modified their holdings of FLGT. State of Wyoming acquired a new stake in shares of Fulgent Genetics during the fourth quarter worth $57,000. PNC Financial Services Group Inc. raised its position 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 worth $60,000 after purchasing an additional 1,963 shares during the period. GAMMA Investing LLC raised its position 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 worth $74,000 after purchasing an additional 2,269 shares during the period. Headlands Technologies LLC raised its position 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 worth $119,000 after purchasing 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 worth $198,000. 48.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Piper Sandler set a $21.00 price target on Fulgent Genetics and gave the company a "neutral" rating in a research report on Monday, August 4th. UBS Group raised Fulgent Genetics from a "neutral" rating to a "buy" rating and upped their price target for the company from $20.00 to $30.00 in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.33.

Insider Activity

In other news, COO Jian Xie sold 1,199 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was 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 owned 365,249 shares in the company, valued at approximately $7,845,548.52. This represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 5,577 shares of company stock worth $121,024. Corporate insiders own 31.76% of the company's stock.

Fulgent Genetics Trading Down 1.0%

NASDAQ FLGT traded down $0.23 on Monday, reaching $21.66. The stock had a trading volume of 57,547 shares, compared to its average volume of 342,078. The business has a 50 day moving average price of $20.27 and a 200 day moving average price of $19.35. Fulgent Genetics, Inc. has a 1 year low of $14.57 and a 1 year high of $23.56. The company has a market capitalization of $662.84 million, a price-to-earnings ratio of -13.05 and a beta of 0.82.

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

Fulgent Genetics 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.