Fulgent Genetics, Inc. $FLGT Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Fulgent Genetics, Inc. by 973.4%, owning 28,906 shares valued at $490,000 at the end of the most recent reporting period.
• Multiple institutional investors, including Northern Trust Corp and GAMMA Investing LLC, have significantly increased their positions in Fulgent Genetics, leading to a total of 48.06% of the company's stock held by institutional investors and hedge funds.
• Fulgent Genetics reported a $0.07 EPS for the quarter, surpassing analyst expectations, with total revenues of $81.80 million, marking a 15.2% increase year-over-year.

Russell Investments Group Ltd. raised its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 973.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,906 shares of the company's stock after purchasing an additional 26,213 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of Fulgent Genetics worth $490,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in Fulgent Genetics in the fourth quarter valued at $57,000. PNC Financial Services Group Inc. raised its position in Fulgent Genetics by 122.8% in the first quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company's stock valued at $60,000 after purchasing an additional 1,963 shares during the period. GAMMA Investing LLC raised its position in Fulgent Genetics by 106.4% in the first quarter. GAMMA Investing LLC now owns 4,402 shares of the company's stock valued at $74,000 after purchasing an additional 2,269 shares during the period. Headlands Technologies LLC raised its position in Fulgent Genetics by 8.0% in the first quarter. Headlands Technologies LLC now owns 7,041 shares of the company's stock valued at $119,000 after purchasing an additional 524 shares during the period. Finally, Easterly Investment Partners LLC purchased a new stake in Fulgent Genetics in the first quarter valued at $198,000. Hedge funds and other institutional investors own 48.06% of the company's stock.

Insider Buying and Selling

In related news, COO Jian Xie sold 1,199 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $21.48, for a total transaction of $25,754.52. Following the completion of the transaction, the chief operating officer directly owned 365,249 shares of the company's stock, valued at $7,845,548.52. The trade was a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 5,577 shares of company stock worth $121,024. Insiders own 33.11% of the company's stock.

Analyst Ratings Changes

FLGT has been the topic of a number of research analyst reports. Piper Sandler set a $21.00 target price on Fulgent Genetics and gave the company a "neutral" rating in a research report on Monday, August 4th. UBS Group upgraded Fulgent Genetics from a "neutral" rating to a "buy" rating and lifted their target price for the company from $20.00 to $30.00 in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $25.33.

Fulgent Genetics Trading Down 1.1%

FLGT traded down $0.23 on Thursday, hitting $21.79. 84,486 shares of the company were exchanged, compared to its average volume of 348,383. Fulgent Genetics, Inc. has a twelve month low of $14.57 and a twelve month high of $23.56. The company has a market cap of $666.87 million, a price-to-earnings ratio of -13.13 and a beta of 0.82. The firm has a 50-day moving average price of $19.97 and a two-hundred day moving average price of $19.05.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.30. Fulgent Genetics had a negative return on equity of 2.26% and a negative net margin of 16.83%.The firm had revenue of $81.80 million during the quarter, compared to analysts' expectations of $76.21 million. During the same period in the previous year, the firm posted $0.15 EPS. Fulgent Genetics's revenue for the quarter was up 15.2% on a year-over-year basis. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. Equities analysts expect 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.