Connor Clark & Lunn Investment Management Ltd. increased its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 98.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,659 shares of the company's stock after acquiring an additional 123,702 shares during the period. 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 also recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its stake in shares of Fulgent Genetics by 8.0% during the 1st quarter. Headlands Technologies LLC now owns 7,041 shares of the company's stock worth $119,000 after acquiring an additional 524 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Fulgent Genetics by 105.3% during the 1st quarter. Deutsche Bank AG now owns 269,770 shares of the company's stock valued at $4,559,000 after purchasing an additional 138,340 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Fulgent Genetics by 16.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 243,979 shares of the company's stock worth $4,123,000 after acquiring an additional 33,768 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Fulgent Genetics by 122.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company's stock valued at $60,000 after buying an additional 1,963 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Fulgent Genetics in the 1st quarter valued at about $324,000. Hedge funds and other institutional investors own 48.06% of the company's stock.
Insider Buying and Selling
In other Fulgent Genetics news, COO Jian Xie sold 1,873 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $20.54, for a total value of $38,471.42. Following the sale, the chief operating officer owned 372,631 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 31.76% of the stock is currently owned by insiders.
Fulgent Genetics Stock Up 0.7%
Shares of FLGT stock traded up $0.15 on Monday, reaching $21.41. 47,264 shares of the stock were exchanged, compared to its average volume of 359,127. The stock has a market cap of $655.28 million, a P/E ratio of -12.90 and a beta of 0.83. The firm has a 50 day moving average of $19.64 and a two-hundred day moving average of $18.61. Fulgent Genetics, Inc. has a 1-year low of $14.57 and a 1-year high of $23.99.
Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its quarterly 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 business had revenue of $81.80 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. On average, equities research analysts predict that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on FLGT shares. UBS Group raised shares of Fulgent Genetics from a "neutral" rating to a "buy" rating and upped their target price for the stock from $20.00 to $30.00 in a report on Tuesday, August 5th. Raymond James Financial restated an "outperform" rating and issued a $25.00 price target (up from $24.00) on shares of Fulgent Genetics in a research note on Monday, May 5th. Finally, Piper Sandler set a $21.00 target price on shares of Fulgent Genetics and gave the stock a "neutral" rating in a research report on Monday, August 4th.
Read Our Latest Report on FLGT
About Fulgent Genetics
(
Free Report)
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.
Featured Articles
Before you consider Fulgent Genetics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fulgent Genetics wasn't on the list.
While Fulgent Genetics currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
