Squarepoint Ops LLC Acquires 26,659 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Squarepoint Ops LLC grew its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 178.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,608 shares of the company's stock after purchasing an additional 26,659 shares during the period. Squarepoint Ops LLC owned approximately 0.14% of Fulgent Genetics worth $768,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FLGT. Russell Investments Group Ltd. grew its stake in shares of Fulgent Genetics by 267.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company's stock valued at $50,000 after buying an additional 1,960 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Fulgent Genetics in the fourth quarter valued at approximately $57,000. State of Wyoming acquired a new stake in Fulgent Genetics in the fourth quarter valued at approximately $57,000. Headlands Technologies LLC bought a new stake in shares of Fulgent Genetics during the fourth quarter valued at approximately $120,000. Finally, Amundi raised its position in shares of Fulgent Genetics by 143.7% during 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 period. Institutional investors and hedge funds own 48.06% of the company's stock.

Analyst Ratings Changes

FLGT has been the topic of a number of recent research reports. Piper Sandler reiterated a "neutral" rating and issued a $23.00 target price (up from $16.00) on shares of Fulgent Genetics in a report on Tuesday, May 6th. Wall Street Zen raised shares of Fulgent Genetics from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, Raymond James reiterated an "outperform" rating and set a $25.00 price objective (up from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th.

Insider Transactions at Fulgent Genetics

In other news, COO Jian Xie sold 1,873 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $20.54, for a total value of $38,471.42. Following the transaction, the chief operating officer now owns 372,631 shares in the company, valued at $7,653,840.74. The trade was a 0.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 31.76% of the company's stock.

Fulgent Genetics Stock Performance

FLGT traded up $0.61 during midday trading on Friday, reaching $21.43. 294,628 shares of the company were exchanged, compared to its average volume of 283,749. The company has a market cap of $652.41 million, a price-to-earnings ratio of -3.88 and a beta of 1.06. Fulgent Genetics, Inc. has a one year low of $14.57 and a one year high of $25.11. The company's fifty day moving average price is $19.08 and its 200 day moving average price is $18.15.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.22. The company 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%. Fulgent Genetics's quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. As a group, sell-side analysts anticipate that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal 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.