Inlight Wealth Management LLC Cuts Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Inlight Wealth Management LLC reduced its holdings 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 and Exchange Commission. The institutional investor owned 8,000 shares of the company's stock after selling 29,088 shares during the quarter. Inlight Wealth Management LLC's holdings in Fulgent Genetics were worth $135,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of FLGT. Millennium Management LLC boosted its stake in shares of 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 period. Ameriprise Financial Inc. increased its stake in shares of Fulgent Genetics by 40.8% in the fourth 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 period. JPMorgan Chase & Co. boosted its position in Fulgent Genetics by 39.4% during the 4th quarter. JPMorgan Chase & Co. now owns 471,259 shares of the company's stock worth $8,704,000 after acquiring an additional 133,215 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Fulgent Genetics by 803.2% in the fourth 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 in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in Fulgent Genetics by 129.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 130,684 shares of the company's stock valued at $2,414,000 after buying an additional 73,843 shares in the last quarter. Hedge funds and other institutional investors own 48.06% of the company's stock.

Fulgent Genetics Price Performance

Shares of FLGT stock traded up $0.05 during trading hours on Wednesday, hitting $19.57. 162,180 shares of the company's stock were exchanged, compared to its average volume of 285,879. The stock's 50-day moving average is $19.86 and its 200-day moving average is $18.34. Fulgent Genetics, Inc. has a 52 week low of $14.57 and a 52 week high of $25.11. The stock has a market cap of $595.71 million, a price-to-earnings ratio of -14.71 and a beta of 1.06.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FLGT shares. Raymond James Financial reaffirmed an "outperform" rating and set a $25.00 target price (up from $24.00) on shares of Fulgent Genetics in a research report on Monday, May 5th. Piper Sandler restated a "neutral" rating and set a $23.00 price target (up 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 research report on Wednesday, March 5th.

Insider Transactions at Fulgent Genetics

In other Fulgent Genetics news, COO Jian Xie sold 1,873 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 372,631 shares in the company, valued at $7,653,840.74. The trade was a 0.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.76% of the stock is owned by company insiders.

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.