Connor Clark & Lunn Investment Management Ltd. Purchases 123,702 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Connor Clark & Lunn Investment Management Ltd. grew its position in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 98.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,659 shares of the company's stock after purchasing an additional 123,702 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.82% of Fulgent Genetics worth $4,219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. increased its position in Fulgent Genetics by 267.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company's stock worth $50,000 after acquiring an additional 1,960 shares during the period. State of Wyoming bought a new position in Fulgent Genetics during the fourth quarter worth $57,000. PNC Financial Services Group Inc. increased its position in 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 acquiring an additional 1,963 shares during the period. GAMMA Investing LLC increased its holdings in Fulgent Genetics by 106.4% in the 1st quarter. GAMMA Investing LLC now owns 4,402 shares of the company's stock valued at $74,000 after buying an additional 2,269 shares during the period. Finally, Headlands Technologies LLC increased its holdings in Fulgent Genetics by 8.0% in the 1st quarter. Headlands Technologies LLC now owns 7,041 shares of the company's stock valued at $119,000 after buying an additional 524 shares during the period. Institutional investors own 48.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FLGT. UBS Group raised shares of Fulgent Genetics from a "neutral" rating to a "buy" rating and boosted their price target for the company from $20.00 to $30.00 in a report on Tuesday, August 5th. Piper Sandler set a $21.00 price target on shares of Fulgent Genetics and gave the company a "neutral" rating in a report on Monday, August 4th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $25.00 price target (up previously from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th.

Fulgent Genetics Stock Performance

Shares of NASDAQ:FLGT traded down $0.48 on Friday, hitting $21.26. The stock had a trading volume of 256,906 shares, compared to its average volume of 369,868. Fulgent Genetics, Inc. has a twelve month low of $14.57 and a twelve month high of $23.99. The firm's 50 day moving average price is $19.64 and its 200-day moving average price is $18.60. The company has a market capitalization of $650.77 million, a price-to-earnings ratio of -12.81 and a beta of 0.83.

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 the consensus estimate of ($0.23) by $0.30. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The company 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 earned $0.15 EPS. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, sell-side analysts predict that Fulgent Genetics, Inc. will post -0.85 EPS for the current year.

Insider Transactions at Fulgent Genetics

In related news, COO Jian Xie sold 1,873 shares of the company's stock in a transaction dated 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 owned 372,631 shares in the company, valued at $7,653,840.74. This represents a 0.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 31.76% of the stock is currently owned by company insiders.

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.