Peapod Lane Capital LLC Purchases 52,768 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Peapod Lane Capital LLC increased its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 48.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,227 shares of the company's stock after purchasing an additional 52,768 shares during the period. Fulgent Genetics accounts for 3.1% of Peapod Lane Capital LLC's portfolio, making the stock its 8th largest position. Peapod Lane Capital LLC owned approximately 0.53% of Fulgent Genetics worth $2,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake 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 worth $2,326,000 after buying an additional 112,011 shares in the last quarter. Inlight Wealth Management LLC purchased a new position in shares of Fulgent Genetics during the fourth quarter valued at $685,000. Intech Investment Management LLC grew its stake in Fulgent Genetics by 248.3% in the fourth quarter. Intech Investment Management LLC now owns 43,539 shares of the company's stock valued at $804,000 after purchasing an additional 31,037 shares in the last quarter. Northern Trust Corp grew its stake in Fulgent Genetics by 5.8% in the fourth quarter. Northern Trust Corp now owns 225,362 shares of the company's stock valued at $4,162,000 after purchasing an additional 12,291 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Fulgent Genetics in the fourth quarter valued at about $411,000. Institutional investors own 48.06% of the company's stock.

Insider Buying and Selling

In related news, COO Jian Xie sold 1,873 shares of the stock in a transaction that occurred 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 directly owned 372,631 shares in the company, valued at $7,653,840.74. This represents a 0.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.76% of the stock is currently owned by company insiders.

Fulgent Genetics Stock Performance

Shares of FLGT stock traded down $0.13 during trading hours on Friday, hitting $19.43. The company had a trading volume of 44,030 shares, compared to its average volume of 286,459. The firm has a market capitalization of $591.37 million, a price-to-earnings ratio of -14.60 and a beta of 1.03. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $25.11. The firm's fifty day moving average is $20.23 and its 200 day moving average is $18.37.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.22. The business had revenue of $73.46 million for the quarter, compared to analyst estimates of $71.26 million. Fulgent Genetics had a negative return on equity of 2.19% and a negative net margin of 13.94%. Fulgent Genetics's revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) EPS. On average, sell-side analysts expect that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. 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 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 research note on Tuesday, May 6th.

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.