Fulgent Genetics, Inc. $FLGT Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in Fulgent Genetics by 51.3% in the first quarter, now owning about 0.11% of the company valued at $547,000.
• Fulgent Genetics reported earnings of $0.07 per share, surpassing analyst expectations, with quarterly revenue reaching $81.80 million.
• Several analysts have rated Fulgent Genetics as a "Moderate Buy," with a target price averaging $25.33, following upgrades from UBS Group.

Rhumbline Advisers lessened its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 51.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 32,354 shares of the company's stock after selling 34,049 shares during the period. Rhumbline Advisers owned about 0.11% of Fulgent Genetics worth $547,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FLGT. Quantinno Capital Management LP acquired a new stake in Fulgent Genetics in the 4th quarter valued at approximately $242,000. State of Wyoming acquired a new stake in Fulgent Genetics in the 4th quarter valued at approximately $57,000. Two Sigma Advisers LP increased its holdings in Fulgent Genetics by 29.7% in the 4th quarter. Two Sigma Advisers LP now owns 83,000 shares of the company's stock valued at $1,533,000 after purchasing an additional 19,000 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Fulgent Genetics by 178.3% in the fourth quarter. Squarepoint Ops LLC now owns 41,608 shares of the company's stock worth $768,000 after acquiring an additional 26,659 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Fulgent Genetics by 13.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,654 shares of the company's stock worth $936,000 after acquiring an additional 5,986 shares in the last quarter. Institutional investors and hedge funds own 48.06% of the company's stock.

Insider Transactions at Fulgent Genetics

In other Fulgent Genetics news, COO Jian Xie sold 1,199 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $21.48, for a total value of $25,754.52. Following the completion of the transaction, the chief operating officer directly owned 365,249 shares of the company's stock, valued at approximately $7,845,548.52. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 5,577 shares of company stock valued at $121,024 over the last three months. Company insiders own 33.11% of the company's stock.

Fulgent Genetics Stock Down 1.4%

NASDAQ FLGT opened at $21.94 on Wednesday. The stock has a market capitalization of $671.58 million, a P/E ratio of -13.22 and a beta of 0.82. Fulgent Genetics, Inc. has a 52-week low of $14.57 and a 52-week high of $22.87. The firm has a 50-day moving average price of $20.68 and a 200 day moving average price of $19.61.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.30. The firm had revenue of $81.80 million during 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 firm's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. On average, equities research analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on FLGT shares. Piper Sandler set a $21.00 price target on shares of Fulgent Genetics and gave the stock a "neutral" rating in a research note on Monday, August 4th. UBS Group raised shares of Fulgent Genetics from a "neutral" rating to a "buy" rating and raised their target price for the company from $20.00 to $30.00 in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $25.33.

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.

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