Deutsche Bank AG Acquires 138,340 Shares of Fulgent Genetics, Inc. $FLGT

Deutsche Bank AG grew its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 105.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,770 shares of the company's stock after buying an additional 138,340 shares during the quarter. Deutsche Bank AG owned 0.87% of Fulgent Genetics worth $4,559,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Millennium Management LLC boosted its holdings in Fulgent Genetics by 20.6% in the fourth quarter. Millennium Management LLC now owns 1,531,801 shares of the company's stock valued at $28,292,000 after purchasing an additional 261,152 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Fulgent Genetics by 40.8% in the fourth quarter. Ameriprise Financial Inc. now owns 501,809 shares of the company's stock worth $9,268,000 after purchasing an additional 145,518 shares during the period. GSA Capital Partners LLP boosted its stake in Fulgent Genetics by 442.1% during the 1st quarter. GSA Capital Partners LLP now owns 104,815 shares of the company's stock valued at $1,771,000 after purchasing an additional 85,481 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Fulgent Genetics by 129.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 130,684 shares of the company's stock valued at $2,414,000 after acquiring an additional 73,843 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Fulgent Genetics by 3,387.8% in the 1st quarter. GAMMA Investing LLC now owns 74,394 shares of the company's stock valued at $1,257,000 after acquiring an additional 72,261 shares in the last quarter. Hedge funds and other institutional investors own 48.06% of the company's stock.

Insider Buying and Selling

In related news, COO Jian Xie sold 1,873 shares of the stock in a transaction on 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 directly owned 372,631 shares of the company's stock, valued at $7,653,840.74. This represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 33.11% of the company's stock.

Fulgent Genetics Stock Performance

Shares of NASDAQ FLGT traded down $0.19 during mid-day trading on Wednesday, reaching $21.38. The company had a trading volume of 122,675 shares, compared to its average volume of 356,802. The business's 50-day simple moving average is $19.63 and its 200 day simple moving average is $18.66. The firm has a market cap of $654.44 million, a price-to-earnings ratio of -12.88 and a beta of 0.83. Fulgent Genetics, Inc. has a one year low of $14.57 and a one year high of $23.99.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $81.80 million for the quarter, compared to analyst estimates of $76.21 million. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The firm's revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. On average, sell-side analysts anticipate that Fulgent Genetics, Inc. will post -0.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FLGT shares. Piper Sandler set a $21.00 price target on Fulgent Genetics and gave the stock a "neutral" rating in a research note on Monday, August 4th. Raymond James Financial reissued an "outperform" rating and issued a $25.00 target price (up previously from $24.00) on shares of Fulgent Genetics in a research note on Monday, May 5th. Finally, UBS Group raised shares of Fulgent Genetics from a "neutral" rating to a "buy" rating and increased their price target for the company from $20.00 to $30.00 in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $25.33.

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.