GAMMA Investing LLC Buys 72,261 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

GAMMA Investing LLC lifted its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 3,387.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,394 shares of the company's stock after buying an additional 72,261 shares during the period. GAMMA Investing LLC owned about 0.24% of Fulgent Genetics worth $1,257,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in FLGT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Fulgent Genetics by 13.4% during 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 valued at $936,000 after purchasing an additional 5,986 shares during the period. Squarepoint Ops LLC lifted its position in 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 buying an additional 26,659 shares during the last quarter. Two Sigma Advisers LP lifted its position in Fulgent Genetics by 29.7% in the fourth quarter. Two Sigma Advisers LP now owns 83,000 shares of the company's stock worth $1,533,000 after buying an additional 19,000 shares during the last quarter. State of Wyoming purchased a new position in Fulgent Genetics during the fourth quarter worth $57,000. Finally, Quantinno Capital Management LP bought a new position in Fulgent Genetics during the fourth quarter valued at $242,000. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Raymond James Financial reiterated an "outperform" rating and set a $25.00 price target (up from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th. Piper Sandler reaffirmed a "neutral" rating and set a $23.00 target price (up previously from $16.00) on shares of Fulgent Genetics in a research note on Tuesday, May 6th. Finally, Wall Street Zen upgraded Fulgent Genetics from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th.

Fulgent Genetics Trading Down 3.2%

Shares of NASDAQ FLGT traded down $0.68 during mid-day trading on Tuesday, reaching $20.26. The company had a trading volume of 171,005 shares, compared to its average volume of 285,256. Fulgent Genetics, Inc. has a 52 week low of $14.57 and a 52 week high of $25.11. The business's 50-day moving average is $19.67 and its 200-day moving average is $18.33.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.22. The business had revenue of $73.46 million for the quarter, compared to analyst estimates of $71.26 million. Fulgent Genetics had a negative net margin of 13.94% and a negative return on equity of 2.19%. The company's quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company posted ($0.01) earnings per share. Equities research analysts forecast that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Insiders Place Their Bets

In other Fulgent Genetics news, COO Jian Xie sold 1,873 shares of the firm's stock in a transaction dated 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 now owns 372,631 shares of the company's stock, valued at approximately $7,653,840.74. This trade represents a 0.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 33.11% of the company's stock.

Fulgent Genetics Company 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.