Inlight Wealth Management LLC Sells 29,088 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Inlight Wealth Management LLC lessened its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 78.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,000 shares of the company's stock after selling 29,088 shares during the period. Inlight Wealth Management LLC's holdings in Fulgent Genetics were worth $135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FLGT. Millennium Management LLC boosted its holdings in shares of Fulgent Genetics by 20.6% during the 4th 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. boosted its holdings in shares of Fulgent Genetics by 40.8% during the 4th quarter. Ameriprise Financial Inc. now owns 501,809 shares of the company's stock valued at $9,268,000 after purchasing an additional 145,518 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Fulgent Genetics by 39.4% in the 4th quarter. JPMorgan Chase & Co. now owns 471,259 shares of the company's stock valued at $8,704,000 after acquiring an additional 133,215 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Fulgent Genetics by 803.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,957 shares of the company's stock valued at $2,326,000 after acquiring an additional 112,011 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Fulgent Genetics by 129.9% in 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. Institutional investors own 48.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FLGT. Raymond James Financial reaffirmed an "outperform" rating and issued a $25.00 price target (up previously from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th. Piper Sandler reaffirmed a "neutral" rating and issued a $23.00 price target (up previously from $16.00) on shares of Fulgent Genetics in a report on Tuesday, May 6th. Finally, Wall Street Zen raised shares of Fulgent Genetics from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th.

Insider Buying and Selling

In related news, COO Jian Xie sold 1,873 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $20.54, for a total value of $38,471.42. Following the sale, the chief operating officer now directly owns 372,631 shares of the company's stock, valued at $7,653,840.74. This represents a 0.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.76% of the stock is currently owned by corporate insiders.

Fulgent Genetics Trading Down 3.8%

Shares of NASDAQ:FLGT opened at $19.53 on Friday. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $25.11. The company has a 50-day moving average price of $19.84 and a 200 day moving average price of $18.35. The company has a market cap of $594.49 million, a price-to-earnings ratio of -14.68 and a beta of 1.06.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.22. Fulgent Genetics had a negative net margin of 13.94% and a negative return on equity of 2.19%. The firm had revenue of $73.46 million during the quarter, compared to the consensus estimate of $71.26 million. During the same quarter last year, the firm earned ($0.01) EPS. The firm's revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities analysts forecast that Fulgent Genetics, Inc. will post -0.85 EPS for the current year.

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.

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