Point72 Asset Management L.P. Sells 125,762 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Point72 Asset Management L.P. cut its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 46.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,613 shares of the company's stock after selling 125,762 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.47% of Fulgent Genetics worth $2,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. grew its stake in shares of Fulgent Genetics by 267.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company's stock worth $50,000 after purchasing an additional 1,960 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Fulgent Genetics in the fourth quarter worth about $57,000. R Squared Ltd bought a new stake in shares of Fulgent Genetics in the fourth quarter worth about $74,000. Headlands Technologies LLC bought a new stake in shares of Fulgent Genetics in the fourth quarter worth about $120,000. Finally, Amundi grew its stake in shares of Fulgent Genetics by 143.7% in the fourth quarter. Amundi now owns 8,816 shares of the company's stock worth $166,000 after purchasing an additional 5,199 shares during the last quarter. 48.06% of the stock is owned by institutional investors.

Fulgent Genetics Stock Performance

Fulgent Genetics stock opened at $21.22 on Wednesday. The stock's 50 day simple moving average is $18.22 and its two-hundred day simple moving average is $18.07. The stock has a market cap of $646.02 million, a price-to-earnings ratio of -3.84 and a beta of 1.00. Fulgent Genetics, Inc. has a fifty-two week low of $14.57 and a fifty-two week high of $25.11.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.04 earnings per share 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 return on equity of 1.81% and a negative net margin of 59.39%. The business's revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) EPS. On average, analysts predict that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Insider Transactions at Fulgent Genetics

In related news, CFO Paul Kim purchased 100,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $15.96 per share, with a total value of $1,596,000.00. Following the transaction, the chief financial officer now directly owns 348,282 shares in the company, valued at $5,558,580.72. This trade represents a 40.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 31.76% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FLGT shares. Piper Sandler reissued a "neutral" rating and issued a $23.00 target price (up from $16.00) on shares of Fulgent Genetics in a research note on Tuesday, May 6th. StockNews.com raised Fulgent Genetics from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Raymond James reaffirmed 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.

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.

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