Fulgent Genetics, Inc. $FLGT Shares Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its stake in Fulgent Genetics, Inc. by 299.4% in Q1, acquiring a total of 221,221 shares, valued at approximately $3.7 million.
• Wall Street analysts have shown positive sentiment towards Fulgent Genetics, with UBS Group upgrading the stock from "neutral" to "buy" and raising the target price from $20 to $30.
• Fulgent Genetics reported $0.07 earnings per share for the last quarter, surpassing estimates of ($0.23) and indicating a 15.2% increase in revenue compared to the previous year.

Cubist Systematic Strategies LLC boosted its position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 299.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 221,221 shares of the company's stock after purchasing an additional 165,828 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.73% of Fulgent Genetics worth $3,739,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State of Wyoming purchased a new stake in Fulgent Genetics during the fourth quarter worth $57,000. PNC Financial Services Group Inc. raised its holdings in shares of Fulgent Genetics by 122.8% in 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 last quarter. GAMMA Investing LLC raised its holdings in shares of Fulgent Genetics by 106.4% in the first quarter. GAMMA Investing LLC now owns 4,402 shares of the company's stock worth $74,000 after acquiring an additional 2,269 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Fulgent Genetics by 8.0% in the first 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. Finally, Easterly Investment Partners LLC acquired a new position in shares of Fulgent Genetics in the first quarter worth $198,000. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

Fulgent Genetics Trading Down 3.1%

NASDAQ FLGT traded down $0.69 on Wednesday, hitting $21.64. 25,534 shares of the stock traded hands, compared to its average volume of 343,952. The stock has a 50-day moving average of $20.16 and a 200 day moving average of $19.21. Fulgent Genetics, Inc. has a twelve month low of $14.57 and a twelve month high of $23.56. The company has a market capitalization of $662.25 million, a P/E ratio of -13.03 and a beta of 0.82.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $76.21 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Fulgent Genetics's revenue for the quarter 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. As a group, equities research analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLGT has been the subject of a number of analyst reports. Piper Sandler set a $21.00 price target on Fulgent Genetics and gave the stock a "neutral" rating in a report on Monday, August 4th. UBS Group raised 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 research report on Tuesday, August 5th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.33.

Insider Transactions at Fulgent Genetics

In other news, COO Jian Xie sold 1,199 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $21.48, for a total transaction of $25,754.52. Following the sale, the chief operating officer directly owned 365,249 shares in the company, valued at approximately $7,845,548.52. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 5,577 shares of company stock worth $121,024 in the last 90 days. Corporate insiders own 33.11% of the company's stock.

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.