Fulgent Genetics, Inc. (NASDAQ:FLGT) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 169,600 shares of the company’s stock after selling 7,900 shares during the quarter. Renaissance Technologies LLC owned 0.58% of Fulgent Genetics worth $6,465,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Sector Pension Investment Board raised its holdings in shares of Fulgent Genetics by 0.8% in the second quarter. Public Sector Pension Investment Board now owns 36,491 shares of the company’s stock worth $1,990,000 after acquiring an additional 301 shares during the last quarter. Texas Permanent School Fund raised its holdings in shares of Fulgent Genetics by 2.4% in the third quarter. Texas Permanent School Fund now owns 14,587 shares of the company’s stock worth $556,000 after acquiring an additional 339 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Fulgent Genetics by 416.8% in the first quarter. Geneos Wealth Management Inc. now owns 491 shares of the company’s stock worth $30,000 after acquiring an additional 396 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Fulgent Genetics by 7.6% in the first quarter. Bank of Montreal Can now owns 6,551 shares of the company’s stock worth $410,000 after acquiring an additional 461 shares during the last quarter. Finally, Spearhead Capital Advisors LLC raised its holdings in shares of Fulgent Genetics by 12.7% in the second quarter. Spearhead Capital Advisors LLC now owns 4,287 shares of the company’s stock worth $234,000 after acquiring an additional 483 shares during the last quarter. 43.22% of the stock is owned by institutional investors and hedge funds.

Fulgent Genetics Stock Up 1.5 %

Shares of NASDAQ:FLGT opened at $31.89 on Friday. The company has a market cap of $941.39 million, a P/E ratio of 6.99 and a beta of 1.61. Fulgent Genetics, Inc. has a 52 week low of $28.53 and a 52 week high of $65.32. The business has a fifty day simple moving average of $32.49 and a 200-day simple moving average of $36.00.

Fulgent Genetics (NASDAQ:FLGT – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.07. Fulgent Genetics had a return on equity of 11.93% and a net margin of 23.17%. The firm had revenue of $67.70 million during the quarter, compared to the consensus estimate of $59.44 million. Sell-side analysts expect that Fulgent Genetics, Inc. will post -2.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FLGT shares. Raymond James started coverage on Fulgent Genetics in a report on Friday, November 18th. They issued an “outperform” rating and a $45.00 price target for the company. Piper Sandler downgraded Fulgent Genetics from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $65.00 to $40.00 in a research report on Thursday, December 8th. Finally, Credit Suisse Group lowered their price objective on Fulgent Genetics from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, March 2nd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Fulgent Genetics Company Profile

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Fulgent Genetics, Inc is a technology company, which engages in the provision of gene testing and sequencing solutions. It offers genes and panels, known mutation, hereditary cancer, carrier screening, and tumor profiling solutions. The company was founded on May 13, 2016 and is headquartered in Temple City, CA.