D. E. Shaw & Co. Inc. increased its position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 129.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,684 shares of the company's stock after acquiring an additional 73,843 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.43% of Fulgent Genetics worth $2,414,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Deutsche Bank AG grew its stake in shares of Fulgent Genetics by 6.1% in the 4th quarter. Deutsche Bank AG now owns 131,430 shares of the company's stock worth $2,428,000 after purchasing an additional 7,532 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Fulgent Genetics by 70.1% during the fourth quarter. Cubist Systematic Strategies LLC now owns 55,393 shares of the company's stock worth $1,023,000 after buying an additional 22,833 shares in the last quarter. Centiva Capital LP grew its position in Fulgent Genetics by 38.9% in the fourth quarter. Centiva Capital LP now owns 17,410 shares of the company's stock worth $322,000 after buying an additional 4,872 shares during the last quarter. Caxton Associates LP increased its holdings in shares of Fulgent Genetics by 249.3% in the fourth quarter. Caxton Associates LP now owns 39,934 shares of the company's stock valued at $738,000 after buying an additional 28,502 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Fulgent Genetics during the 4th quarter valued at $486,000. 48.06% of the stock is currently owned by institutional investors.
Fulgent Genetics Stock Performance
NASDAQ FLGT opened at $21.22 on Wednesday. The firm's 50 day moving average price is $18.22 and its two-hundred day moving average price is $18.07. Fulgent Genetics, Inc. has a twelve month low of $14.57 and a twelve month high of $25.11. The stock has a market cap of $646.02 million, a price-to-earnings ratio of -3.84 and a beta of 1.00.
Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.22. The business had revenue of $73.46 million for the quarter, compared to the consensus estimate of $71.26 million. Fulgent Genetics had a negative return on equity of 1.81% and a negative net margin of 59.39%. Fulgent Genetics's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) earnings per share. On average, research analysts forecast that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.
Insider Activity at Fulgent Genetics
In related news, CFO Paul Kim purchased 100,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the acquisition, the chief financial officer now directly owns 348,282 shares in the company, valued at approximately $5,558,580.72. The trade was a 40.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 31.76% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. StockNews.com upgraded Fulgent Genetics from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Piper Sandler reissued a "neutral" rating and issued a $23.00 price target (up previously from $16.00) on shares of Fulgent Genetics in a research note on Tuesday, May 6th. Finally, Raymond James restated an "outperform" rating and set a $25.00 price objective (up previously from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th.
Check Out Our Latest Report on Fulgent Genetics
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.
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