Fulgent Genetics, Inc. $FLGT Shares Acquired by Jump Financial LLC

Key Points

• Jump Financial LLC increased its position in Fulgent Genetics by 267.8%, owning 93,049 shares worth approximately $1.57 million after purchasing an additional 67,749 shares in the first quarter.
• Fulgent Genetics reported $0.07 EPS, exceeding expectations of ($0.23), with revenues of $81.80 million, representing a 15.2% increase year-over-year.
• Analysts have mixed ratings on Fulgent Genetics, with UBS Group upgrading the stock to "buy" with a price target increase from $20.00 to $30.00, while Piper Sandler maintains a "neutral" rating with a target of $21.00.

Jump Financial LLC grew its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 267.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,049 shares of the company's stock after purchasing an additional 67,749 shares during the period. Jump Financial LLC owned about 0.31% of Fulgent Genetics worth $1,573,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FLGT. Hsbc Holdings PLC boosted its position in Fulgent Genetics by 8.5% in the 4th quarter. Hsbc Holdings PLC now owns 80,876 shares of the company's stock worth $1,491,000 after purchasing an additional 6,317 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Fulgent Genetics by 25.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,665 shares of the company's stock worth $345,000 after purchasing an additional 3,747 shares in the last quarter. Aquatic Capital Management LLC boosted its position in Fulgent Genetics by 157.4% in the 4th quarter. Aquatic Capital Management LLC now owns 12,869 shares of the company's stock worth $238,000 after purchasing an additional 7,869 shares in the last quarter. Northern Trust Corp boosted its position in Fulgent Genetics by 5.8% in the 4th quarter. Northern Trust Corp now owns 225,362 shares of the company's stock worth $4,162,000 after purchasing an additional 12,291 shares in the last quarter. Finally, Almitas Capital LLC purchased a new stake in Fulgent Genetics in the 4th quarter worth approximately $296,000. Hedge funds and other institutional investors own 48.06% of the company's stock.

Insider Buying and Selling

In related news, COO Jian Xie sold 1,199 shares of the stock in a transaction on Wednesday, August 27th. The stock was 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 represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 3,386 shares of company stock valued at $72,756. 33.11% of the stock is currently owned by corporate insiders.

Fulgent Genetics Stock Up 0.6%

Shares of FLGT stock traded up $0.14 during trading hours on Monday, hitting $22.17. 348,546 shares of the company's stock were exchanged, compared to its average volume of 270,210. The firm has a 50 day moving average of $19.81 and a two-hundred day moving average of $18.97. Fulgent Genetics, Inc. has a fifty-two week low of $14.57 and a fifty-two week high of $23.56. The firm has a market cap of $678.62 million, a P/E ratio of -13.36 and a beta of 0.81.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.30. Fulgent Genetics had a negative return on equity of 2.26% and a negative net margin of 16.83%.The firm had revenue of $81.80 million during the quarter, compared to the consensus estimate of $76.21 million. During the same period in the prior year, the company earned $0.15 EPS. The firm's revenue was up 15.2% compared to the same quarter last year. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. On average, equities analysts forecast that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FLGT has been the topic of several recent research reports. UBS Group upgraded Fulgent Genetics from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $20.00 to $30.00 in a research report on Tuesday, August 5th. 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 note on Monday, May 5th. Finally, Piper Sandler set a $21.00 target price on Fulgent Genetics and gave the stock a "neutral" rating in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Fulgent Genetics currently has an average rating of "Moderate Buy" and an average target price 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.