XTX Topco Ltd Takes $324,000 Position 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 acquired a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,149 shares of the company's stock, valued at approximately $324,000. XTX Topco Ltd owned 0.06% of Fulgent Genetics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millennium Management LLC lifted its stake in shares of Fulgent Genetics by 20.6% in the fourth quarter. Millennium Management LLC now owns 1,531,801 shares of the company's stock worth $28,292,000 after buying an additional 261,152 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Fulgent Genetics by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 514,152 shares of the company's stock worth $9,499,000 after purchasing an additional 11,283 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Fulgent Genetics by 40.8% in the fourth quarter. Ameriprise Financial Inc. now owns 501,809 shares of the company's stock worth $9,268,000 after purchasing an additional 145,518 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Fulgent Genetics by 39.4% in the 4th quarter. JPMorgan Chase & Co. now owns 471,259 shares of the company's stock valued at $8,704,000 after acquiring an additional 133,215 shares during the last quarter. Finally, Invenomic Capital Management LP increased its holdings in Fulgent Genetics by 3.7% in the 4th quarter. Invenomic Capital Management LP now owns 259,010 shares of the company's stock valued at $4,784,000 after acquiring an additional 9,263 shares during the last quarter. Hedge funds and other institutional investors own 48.06% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. 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. UBS Group upgraded shares of Fulgent Genetics from a "neutral" rating to a "buy" rating and raised their target price for the stock from $20.00 to $30.00 in a report on Tuesday, August 5th. Finally, Raymond James Financial restated an "outperform" rating and issued a $25.00 target price (up previously from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th.

Insider Activity

In other news, COO Jian Xie sold 1,873 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $20.54, for a total value of $38,471.42. Following the transaction, the chief operating officer owned 372,631 shares of the company's stock, 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 accessible through this link. 31.76% of the stock is currently owned by insiders.

Fulgent Genetics Stock Performance

NASDAQ FLGT opened at $20.36 on Friday. The company has a market capitalization of $623.22 million, a price-to-earnings ratio of -12.26 and a beta of 0.83. The company's 50-day simple moving average is $19.62 and its two-hundred day simple moving average is $18.45. Fulgent Genetics, Inc. has a one year low of $14.57 and a one year high of $24.61.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.30. The business had revenue of $81.80 million for the quarter, compared to the consensus estimate of $76.21 million. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The company's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. Equities analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding FLGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.