Two Sigma Advisers LP Raises Stake in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Two Sigma Advisers LP grew its position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 29.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 83,000 shares of the company's stock after purchasing an additional 19,000 shares during the quarter. Two Sigma Advisers LP owned approximately 0.27% of Fulgent Genetics worth $1,533,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in Fulgent Genetics by 267.4% in the fourth 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 last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Fulgent Genetics in the 4th quarter valued at $57,000. State of Wyoming purchased a new stake in Fulgent Genetics in the 4th quarter valued at $57,000. R Squared Ltd acquired a new stake in Fulgent Genetics during the 4th quarter worth $74,000. Finally, Headlands Technologies LLC purchased a new position in Fulgent Genetics during the 4th quarter worth $120,000. 48.06% of the stock is owned by institutional investors and hedge funds.

Fulgent Genetics Stock Performance

FLGT traded up $0.33 during trading on Wednesday, hitting $21.50. The stock had a trading volume of 100,764 shares, compared to its average volume of 280,969. The firm has a market capitalization of $654.39 million, a P/E ratio of -3.91 and a beta of 1.00. Fulgent Genetics, Inc. has a twelve month low of $14.57 and a twelve month high of $25.11. The company's 50-day moving average price is $18.92 and its 200 day moving average price is $18.10.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.22. The firm had revenue of $73.46 million for the quarter, compared to the consensus estimate of $71.26 million. Fulgent Genetics had a negative return on equity of 1.81% and a negative net margin of 59.39%. The company's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) earnings per share. As a group, equities analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

Insider Activity

In other Fulgent Genetics news, COO Jian Xie sold 1,873 shares of the company's stock in a transaction 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 sale, the chief operating officer now owns 372,631 shares of the company's stock, valued at approximately $7,653,840.74. This represents a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 31.76% of the company's stock.

Wall Street Analysts Forecast Growth

FLGT has been the subject of a number of research reports. Piper Sandler reaffirmed 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 Fulgent Genetics from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, Raymond James reaffirmed an "outperform" rating and set a $25.00 price objective (up from $24.00) on shares of Fulgent Genetics in a research note on Monday, May 5th.

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.