Trexquant Investment LP Increases Position in Fulgent Genetics, Inc. $FLGT

Key Points

• Trexquant Investment LP increased its stake in Fulgent Genetics by 62.1%, now owning 0.68% of the company valued at $3.52 million.
• Analysts have set a price target of $21.00 from Piper Sandler, while UBS raised its target to $30.00 with a "buy" rating.
• Fulgent Genetics reported a 15.2% year-over-year revenue growth for the last quarter, with an earnings per share of $0.07 beating estimates.

Trexquant Investment LP lifted its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 62.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 208,407 shares of the company's stock after buying an additional 79,801 shares during the quarter. Trexquant Investment LP owned approximately 0.68% of Fulgent Genetics worth $3,522,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FLGT. State of Wyoming purchased a new position in Fulgent Genetics during the 4th quarter worth $57,000. PNC Financial Services Group Inc. boosted its position in Fulgent Genetics by 122.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company's stock valued at $60,000 after acquiring an additional 1,963 shares in the last quarter. GAMMA Investing LLC boosted its position in Fulgent Genetics by 106.4% during the 1st quarter. GAMMA Investing LLC now owns 4,402 shares of the company's stock valued at $74,000 after acquiring an additional 2,269 shares in the last quarter. Headlands Technologies LLC boosted its position in Fulgent Genetics by 8.0% during the 1st quarter. Headlands Technologies LLC now owns 7,041 shares of the company's stock valued at $119,000 after acquiring an additional 524 shares in the last quarter. Finally, Easterly Investment Partners LLC acquired a new stake in shares of Fulgent Genetics in the 1st quarter worth $198,000. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FLGT. UBS Group raised Fulgent Genetics from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $20.00 to $30.00 in a research report on Tuesday, August 5th. Piper Sandler set a $21.00 price target on Fulgent Genetics and gave the stock a "neutral" rating in a research report on Monday, August 4th. 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, Fulgent Genetics currently has an average rating of "Moderate Buy" and an average target price of $25.33.

Fulgent Genetics Trading Up 0.6%

Shares of NASDAQ FLGT traded up $0.13 during trading on Monday, reaching $22.08. 15,411 shares of the company traded hands, compared to its average volume of 345,964. Fulgent Genetics, Inc. has a 12-month low of $14.57 and a 12-month high of $23.56. The firm's fifty day simple moving average is $20.06 and its 200 day simple moving average is $19.15. The stock has a market cap of $675.87 million, a P/E ratio of -13.31 and a beta of 0.81.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.07 earnings per share 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 business had revenue of $81.80 million for the quarter, compared to analysts' expectations of $76.21 million. During the same period in the previous year, the firm posted $0.15 EPS. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. As a group, research analysts expect that Fulgent Genetics, Inc. will post -0.85 EPS for the current year.

Insider Buying and Selling

In other Fulgent Genetics news, COO Jian Xie sold 1,199 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $21.48, for a total value of $25,754.52. Following the sale, the chief operating officer owned 365,249 shares of the company's stock, valued at $7,845,548.52. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 5,577 shares of company stock valued at $121,024 in the last 90 days. Corporate insiders own 33.11% of the company's stock.

About Fulgent Genetics

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.