Trexquant Investment LP Increases Stake 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 boosted its position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 62.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 208,407 shares of the company's stock after acquiring an additional 79,801 shares during the period. Trexquant Investment LP owned about 0.68% of Fulgent Genetics worth $3,522,000 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 acquired a new position in Fulgent Genetics during the 4th quarter worth approximately $57,000. PNC Financial Services Group Inc. grew its holdings 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 worth $60,000 after acquiring an additional 1,963 shares in the last quarter. GAMMA Investing LLC grew its holdings in Fulgent Genetics by 106.4% during the 1st quarter. GAMMA Investing LLC now owns 4,402 shares of the company's stock worth $74,000 after acquiring an additional 2,269 shares in the last quarter. Headlands Technologies LLC grew its holdings in Fulgent Genetics by 8.0% during the 1st quarter. Headlands Technologies LLC now owns 7,041 shares of the company's stock worth $119,000 after acquiring an additional 524 shares in the last quarter. Finally, Easterly Investment Partners LLC acquired a new position in Fulgent Genetics during the 1st quarter worth approximately $198,000. Institutional investors and hedge funds own 48.06% of the company's stock.

Insider Buying and Selling

In related news, COO Jian Xie sold 1,199 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $21.48, for a total value of $25,754.52. Following the completion of the sale, the chief operating officer owned 365,249 shares in the company, valued at $7,845,548.52. This represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 5,577 shares of company stock valued at $121,024. 31.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on FLGT. UBS Group upgraded shares of Fulgent Genetics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $20.00 to $30.00 in a report on Tuesday, August 5th. Piper Sandler set a $21.00 price target on shares of Fulgent Genetics and gave the stock a "neutral" rating in a report on Monday, August 4th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Fulgent Genetics has a consensus rating of "Moderate Buy" and a consensus target price of $25.33.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock traded down $0.03 during trading hours on Friday, hitting $21.95. The company had a trading volume of 179,792 shares, compared to its average volume of 201,497. The company's 50-day moving average is $20.06 and its two-hundred day moving average is $19.13. 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 $671.89 million, a P/E ratio of -13.22 and a beta of 0.82.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.30. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The business had revenue of $81.80 million during the quarter, compared to analysts' expectations of $76.21 million. During the same quarter in the prior year, the business posted $0.15 EPS. The company'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. Sell-side analysts expect that Fulgent Genetics, Inc. will post -0.85 EPS for the current year.

Fulgent Genetics 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.