XTX Topco Ltd Invests $324,000 in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Key Points

• XTX Topco Ltd has acquired a $324,000 position in Fulgent Genetics, purchasing 19,149 shares during the first quarter, representing 0.06% ownership of the company.
• Several institutional investors, including Millennium Management and Ameriprise Financial, have significantly increased their stakes in Fulgent Genetics during the fourth quarter.
• Fulgent Genetics reported an earnings per share of $0.07 for the last quarter, beating analysts' expectations, with revenues of $81.80 million, which is a 15.2% increase year-over-year.

XTX Topco Ltd purchased a new position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 19,149 shares of the company's stock, valued at approximately $324,000. XTX Topco Ltd owned 0.06% of Fulgent Genetics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of FLGT. GSA Capital Partners LLP grew its holdings in Fulgent Genetics by 442.1% during the 1st quarter. GSA Capital Partners LLP now owns 104,815 shares of the company's stock worth $1,771,000 after acquiring an additional 85,481 shares during the period. Federated Hermes Inc. boosted its position in shares of Fulgent Genetics by 11.0% in the 1st quarter. Federated Hermes Inc. now owns 46,479 shares of the company's stock worth $785,000 after purchasing an additional 4,597 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Fulgent Genetics during the first quarter worth $1,050,000. Easterly Investment Partners LLC bought a new stake in Fulgent Genetics in the first quarter valued at about $198,000. Finally, Peapod Lane Capital LLC grew its position in shares of Fulgent Genetics by 48.2% during the 1st quarter. Peapod Lane Capital LLC now owns 162,227 shares of the company's stock worth $2,742,000 after buying an additional 52,768 shares during the period. 48.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FLGT. Piper Sandler set a $21.00 price objective on shares of Fulgent Genetics and gave the stock a "neutral" rating in a research note on Monday, August 4th. Raymond James Financial reiterated an "outperform" rating and issued a $25.00 price target (up from $24.00) on shares of Fulgent Genetics in a research note on Monday, May 5th. Finally, UBS Group raised shares of Fulgent Genetics from a "neutral" rating to a "buy" rating and upped their price target for the stock from $20.00 to $30.00 in a research report on Tuesday, August 5th.

Insider Transactions at Fulgent Genetics

In other Fulgent Genetics news, COO Jian Xie sold 1,873 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $20.54, for a total value of $38,471.42. Following the completion of the transaction, the chief operating officer owned 372,631 shares of the company's stock, valued at $7,653,840.74. This represents a 0.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.76% of the stock is currently owned by corporate insiders.

Fulgent Genetics Trading Down 1.5%

NASDAQ FLGT traded down $0.33 during trading on Thursday, reaching $21.44. The company's stock had a trading volume of 64,479 shares, compared to its average volume of 360,952. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $23.99. The firm has a 50 day moving average price of $19.63 and a 200 day moving average price of $18.53. The firm has a market capitalization of $656.31 million, a price-to-earnings ratio of -12.95 and a beta of 0.83.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $81.80 million during the quarter, compared to the consensus estimate of $76.21 million. During the same quarter in the prior year, the firm posted $0.15 EPS. The firm's quarterly revenue was up 15.2% on a year-over-year basis. On average, equities analysts forecast that Fulgent Genetics, Inc. will post -0.85 EPS 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.