Texas Permanent School Fund grew its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) by 3.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,248 shares of the company’s stock after buying an additional 501 shares during the quarter. Texas Permanent School Fund’s holdings in Fulgent Genetics were worth $777,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of FLGT. Aaron Wealth Advisors LLC lifted its holdings in Fulgent Genetics by 7,094.9% during the first quarter. Aaron Wealth Advisors LLC now owns 324,344 shares of the company’s stock worth $5,197,000 after buying an additional 319,836 shares during the period. Renaissance Technologies LLC grew its position in shares of Fulgent Genetics by 1,533.3% during the 1st quarter. Renaissance Technologies LLC now owns 102,900 shares of the company’s stock valued at $6,422,000 after acquiring an additional 96,600 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Fulgent Genetics during the 2nd quarter valued at about $5,161,000. TCW Group Inc. acquired a new stake in shares of Fulgent Genetics during the 2nd quarter valued at about $4,820,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Fulgent Genetics by 247.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 117,537 shares of the company’s stock valued at $7,336,000 after acquiring an additional 83,678 shares during the period. Institutional investors own 43.22% of the company’s stock.
Insiders Place Their Bets
In other Fulgent Genetics news, COO Jian Xie sold 675 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $44.18, for a total value of $29,821.50. Following the transaction, the chief operating officer now directly owns 309,729 shares of the company’s stock, valued at approximately $13,683,827.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Jian Xie sold 675 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $44.18, for a total transaction of $29,821.50. Following the sale, the chief operating officer now owns 309,729 shares of the company’s stock, valued at approximately $13,683,827.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Paul Kim sold 662 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $41.39, for a total transaction of $27,400.18. Following the sale, the chief financial officer now directly owns 149,507 shares in the company, valued at approximately $6,188,094.73. The disclosure for this sale can be found here. Corporate insiders own 29.50% of the company’s stock.
Fulgent Genetics Trading Up 3.2 %
Fulgent Genetics (NASDAQ:FLGT – Get Rating) last released its earnings results on Monday, November 7th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.13. Fulgent Genetics had a net margin of 33.82% and a return on equity of 22.10%. The business had revenue of $105.66 million for the quarter, compared to analyst estimates of $103.70 million. On average, sell-side analysts predict that Fulgent Genetics, Inc. will post 4.93 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have recently commented on FLGT. Piper Sandler dropped their target price on Fulgent Genetics from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, November 14th. StockNews.com began coverage on Fulgent Genetics in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James assumed coverage on Fulgent Genetics in a research report on Friday. They set an “outperform” rating and a $45.00 target price on the stock. Credit Suisse Group decreased their price target on shares of Fulgent Genetics from $65.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, November 14th. Finally, TheStreet lowered shares of Fulgent Genetics from a “b-” rating to a “c+” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.25.
Fulgent Genetics Company Profile
Fulgent Genetics, Inc, together with its subsidiaries, provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients in the United States and internationally. The company offers genetic tests comprising Focus and Comprehensive oncology panels tests; Beacon carrier screening panels test for inherited conditions; solid tumor molecular profiling for somatic cancer testing; rapid whole genome testing for children in NICU and PICU; newborn genetic analysis panel; single front-line test to detect ataxia-related variants and repeat expansions through sequencing; picture genetics, a patient-initiated genetic testing; whole exome and clinical exome panel tests; whole genome, mutation, and repeat expansion testing services, as well as research service tests.
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