Connor Clark & Lunn Investment Management Ltd. Purchases New Position in Fulgent Genetics, Inc. $FLGT

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 159,108 shares of the company's stock, valued at approximately $3,265,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.58% of Fulgent Genetics at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new stake in Fulgent Genetics during the second quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its holdings in shares of Fulgent Genetics by 69.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company's stock worth $35,000 after purchasing an additional 548 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Fulgent Genetics during the 4th quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd increased its position in shares of Fulgent Genetics by 214.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company's stock valued at $48,000 after purchasing an additional 1,251 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Fulgent Genetics during the 2nd quarter valued at $49,000. 48.06% of the stock is owned by institutional investors.

Fulgent Genetics Stock Performance

Shares of NASDAQ FLGT opened at $19.61 on Friday. Fulgent Genetics, Inc. has a fifty-two week low of $13.46 and a fifty-two week high of $31.04. The company has a market cap of $539.47 million, a price-to-earnings ratio of -6.95 and a beta of 0.90. The business's 50 day moving average price is $19.63 and its 200-day moving average price is $18.15.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.12). Fulgent Genetics had a negative net margin of 26.05% and a negative return on equity of 4.93%. The business had revenue of $85.39 million during the quarter, compared to the consensus estimate of $94.00 million. Fulgent Genetics has set its FY 2026 guidance at -2.350--2.220 EPS. Sell-side analysts predict that Fulgent Genetics, Inc. will post -3.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FLGT shares. Weiss Ratings upgraded Fulgent Genetics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday. Wall Street Zen raised shares of Fulgent Genetics from a "strong sell" rating to a "sell" rating in a research note on Saturday. Finally, Piper Sandler raised their target price on shares of Fulgent Genetics from $15.00 to $19.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $27.50.

Insiders Place Their Bets

In other news, insider Hanlin Gao sold 1,688 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $30,198.32. Following the transaction, the insider directly owned 990,374 shares in the company, valued at approximately $17,717,790.86. This represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $38,391.94. Following the completion of the transaction, the chief operating officer directly owned 367,605 shares in the company, valued at $6,576,453.45. This represents a 0.58% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 5,966 shares of company stock valued at $111,038 over the last three months. Insiders own 36.18% of the company's stock.

Fulgent Genetics Profile

Fulgent Genetics, Inc NASDAQ: FLGT is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company's infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent's product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.

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