Yousif Capital Management LLC Decreases Stake in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Yousif Capital Management LLC cut its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,580 shares of the company’s stock after selling 635 shares during the quarter. Yousif Capital Management LLC’s holdings in Fulgent Genetics were worth $392,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FLGT. Arizona State Retirement System acquired a new position in Fulgent Genetics during the second quarter worth $216,000. EA Series Trust acquired a new position in Fulgent Genetics during the second quarter worth $3,129,000. Raymond James Financial Services Advisors Inc. raised its holdings in Fulgent Genetics by 112.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 19,649 shares of the company’s stock worth $728,000 after purchasing an additional 10,380 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Fulgent Genetics by 60.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 101,322 shares of the company’s stock worth $3,752,000 after purchasing an additional 38,312 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in Fulgent Genetics by 13.0% during the second quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the company’s stock worth $385,000 after purchasing an additional 1,200 shares during the last quarter. 46.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com initiated coverage on Fulgent Genetics in a report on Thursday, October 5th. They issued a “hold” rating for the company. Piper Sandler dropped their target price on Fulgent Genetics from $37.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, October 16th. Finally, TheStreet lowered Fulgent Genetics from a “c-” rating to a “d+” rating in a research note on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fulgent Genetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.33.

Insider Buying and Selling

In related news, CFO Paul Kim sold 1,798 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $33.88, for a total value of $60,916.24. Following the completion of the transaction, the chief financial officer now directly owns 225,852 shares of the company’s stock, valued at approximately $7,651,865.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Fulgent Genetics news, CFO Paul Kim sold 1,798 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $33.88, for a total transaction of $60,916.24. Following the completion of the transaction, the chief financial officer now directly owns 225,852 shares of the company’s stock, valued at approximately $7,651,865.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jian Xie sold 1,492 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $31.41, for a total value of $46,863.72. Following the transaction, the chief operating officer now directly owns 416,022 shares of the company’s stock, valued at $13,067,251.02. The disclosure for this sale can be found here. Insiders sold 16,279 shares of company stock valued at $542,598 in the last three months. 31.76% of the stock is currently owned by corporate insiders.

Fulgent Genetics Stock Performance

Shares of FLGT opened at $26.09 on Friday. The company has a market capitalization of $773.05 million, a P/E ratio of -12.19 and a beta of 1.57. Fulgent Genetics, Inc. has a one year low of $23.09 and a one year high of $44.09. The stock has a 50-day moving average price of $27.27 and a 200 day moving average price of $33.15.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings data on Friday, November 3rd. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.07). The firm had revenue of $84.70 million for the quarter, compared to analyst estimates of $64.42 million. Fulgent Genetics had a negative net margin of 22.17% and a negative return on equity of 4.59%. The company’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. As a group, equities research analysts forecast that Fulgent Genetics, Inc. will post -2.1 earnings per share 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 next generation sequencer services related to hereditary cancer, cardiovascular genetics, reproductive health, and neurodegenerative genetics, as well as pharmacogenetic tests.