Fulgent Genetics, Inc. (NASDAQ:FLGT) Shares Purchased by Peapod Lane Capital LLC

Peapod Lane Capital LLC lifted its position in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 48.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 162,227 shares of the company's stock after purchasing an additional 52,768 shares during the quarter. Fulgent Genetics accounts for approximately 3.1% of Peapod Lane Capital LLC's holdings, making the stock its 8th biggest holding. Peapod Lane Capital LLC owned approximately 0.53% of Fulgent Genetics worth $2,742,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FLGT. Russell Investments Group Ltd. grew its stake in shares of Fulgent Genetics by 267.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company's stock worth $50,000 after acquiring an additional 1,960 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Fulgent Genetics during the fourth quarter worth approximately $57,000. State of Wyoming acquired a new position in shares of Fulgent Genetics in the 4th quarter valued at approximately $57,000. GAMMA Investing LLC raised its stake in Fulgent Genetics by 106.4% during the first quarter. GAMMA Investing LLC now owns 4,402 shares of the company's stock worth $74,000 after acquiring an additional 2,269 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Fulgent Genetics during the fourth quarter valued at about $120,000. 48.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Jian Xie sold 1,873 shares of the business's stock in a transaction 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 sale, the chief operating officer directly owned 372,631 shares of the company's stock, valued at approximately $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 can be accessed through this link. Insiders own 31.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FLGT. Raymond James Financial reiterated an "outperform" rating and set a $25.00 price objective (up from $24.00) on shares of Fulgent Genetics in a research report on Monday, May 5th. Piper Sandler restated a "neutral" rating and issued a $23.00 price objective (up from $16.00) on shares of Fulgent Genetics in a research note on Tuesday, May 6th.

Fulgent Genetics Stock Up 0.3%

Shares of NASDAQ:FLGT traded up $0.06 during midday trading on Wednesday, reaching $19.58. The company's stock had a trading volume of 153,208 shares, compared to its average volume of 287,074. Fulgent Genetics, Inc. has a 12-month low of $14.57 and a 12-month high of $25.11. The firm has a 50 day moving average of $20.14 and a 200-day moving average of $18.36. The firm has a market capitalization of $596.02 million, a P/E ratio of -14.72 and a beta of 1.03.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.22. The firm had revenue of $73.46 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) EPS. On average, research analysts predict that Fulgent Genetics, Inc. will post -0.85 EPS for the current year.

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.