Nuveen Asset Management LLC Has $1.04 Million Stock Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Nuveen Asset Management LLC trimmed its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 18.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,330 shares of the company's stock after selling 12,735 shares during the quarter. Nuveen Asset Management LLC owned about 0.18% of Fulgent Genetics worth $1,040,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Millennium Management LLC raised its stake in 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 acquiring an additional 261,152 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Fulgent Genetics by 40.8% during 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. raised its stake in shares of Fulgent Genetics by 39.4% during the fourth quarter. JPMorgan Chase & Co. now owns 471,259 shares of the company's stock valued at $8,704,000 after purchasing an additional 133,215 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in 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 worth $2,326,000 after purchasing an additional 112,011 shares during the period. Finally, Peapod Lane Capital LLC bought a new position in Fulgent Genetics in the 4th quarter valued at about $2,022,000. 48.06% of the stock is owned by institutional investors.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock traded up $0.61 during trading on Friday, hitting $21.43. The stock had a trading volume of 294,628 shares, compared to its average volume of 283,022. The business has a fifty day moving average of $19.08 and a two-hundred day moving average of $18.15. Fulgent Genetics, Inc. has a fifty-two week low of $14.57 and a fifty-two week high of $25.11. The firm has a market cap of $652.41 million, a P/E ratio of -3.88 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. Fulgent Genetics had a negative net margin of 59.39% and a negative return on equity of 1.81%. The company had revenue of $73.46 million during the quarter, compared to the consensus estimate of $71.26 million. During the same period in the prior year, the company earned ($0.01) EPS. Fulgent Genetics's revenue was up 14.0% on a year-over-year basis. As a group, research analysts forecast that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Insider Activity at Fulgent Genetics

In other news, COO Jian Xie sold 1,873 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $20.54, for a total transaction 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. 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. Company insiders own 31.76% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on FLGT shares. Piper Sandler reissued 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. Wall Street Zen upgraded shares of Fulgent Genetics from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, Raymond James reissued an "outperform" rating and set a $25.00 target price (up previously from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th.

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.