Quantinno Capital Management LP Invests $242,000 in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Quantinno Capital Management LP purchased a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,079 shares of the company's stock, valued at approximately $242,000.

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

Fulgent Genetics Stock Performance

FLGT traded up $0.06 during trading on Thursday, reaching $20.61. 298,531 shares of the company's stock were exchanged, compared to its average volume of 279,348. The company's fifty day moving average price is $18.61 and its 200-day moving average price is $18.04. 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 capitalization of $627.45 million, a PE ratio of -3.73 and a beta of 1.00.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last released its 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. Fulgent Genetics had a negative net margin of 59.39% and a negative return on equity of 1.81%. The firm had revenue of $73.46 million during the quarter, compared to analyst estimates of $71.26 million. During the same quarter in the previous year, the business earned ($0.01) EPS. The business's quarterly revenue was up 14.0% compared to the same quarter last year. Research analysts forecast that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 value of $38,471.42. Following the sale, the chief operating officer now directly owns 372,631 shares of the company's stock, valued at approximately $7,653,840.74. The trade was a 0.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Paul Kim acquired 100,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the transaction, the chief financial officer now directly owns 348,282 shares in the company, valued at $5,558,580.72. This represents a 40.28% increase in their position. The disclosure for this purchase can be found here. Company insiders own 33.11% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.