American International Group Inc. lessened its position in Fulgent Genetics, Inc. (NASDAQ:FLGT – Free Report) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,961 shares of the company’s stock after selling 387 shares during the quarter. American International Group Inc.’s holdings in Fulgent Genetics were worth $406,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Fulgent Genetics by 3.4% in the 1st quarter. BlackRock Inc. now owns 3,646,420 shares of the company’s stock worth $113,841,000 after acquiring an additional 118,638 shares during the period. Vanguard Group Inc. raised its holdings in Fulgent Genetics by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,365,736 shares of the company’s stock worth $52,062,000 after acquiring an additional 32,173 shares during the period. Dimensional Fund Advisors LP raised its holdings in Fulgent Genetics by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 853,549 shares of the company’s stock worth $26,645,000 after acquiring an additional 55,223 shares during the period. State Street Corp increased its holdings in shares of Fulgent Genetics by 5.3% during the 3rd quarter. State Street Corp now owns 756,357 shares of the company’s stock worth $28,832,000 after purchasing an additional 38,121 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Fulgent Genetics by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 404,664 shares of the company’s stock worth $12,634,000 after purchasing an additional 9,134 shares during the period. Institutional investors own 46.09% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Fulgent Genetics from $37.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, October 16th. TheStreet downgraded shares of Fulgent Genetics from a “c-” rating to a “d+” rating in a report on Friday, November 3rd. Finally, StockNews.com assumed coverage on shares of Fulgent Genetics in a report on Thursday, October 5th. They set a “hold” rating on the stock.
In other news, CFO Paul Kim sold 10,299 shares of Fulgent Genetics stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $33.62, for a total transaction of $346,252.38. Following the sale, the chief financial officer now directly owns 215,553 shares in the company, valued at approximately $7,246,891.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Fulgent Genetics news, CFO Paul Kim sold 10,299 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $33.62, for a total value of $346,252.38. Following the transaction, the chief financial officer now directly owns 215,553 shares in the company, valued at $7,246,891.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Hanlin Gao sold 1,041 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $31.41, for a total transaction of $32,697.81. Following the completion of the transaction, the insider now owns 912,932 shares in the company, valued at $28,675,194.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,832 shares of company stock worth $425,814. Corporate insiders own 31.76% of the company’s stock.
Fulgent Genetics Stock Performance
Shares of Fulgent Genetics stock opened at $27.06 on Friday. The firm’s 50-day simple moving average is $26.55 and its 200-day simple moving average is $33.03. Fulgent Genetics, Inc. has a twelve month low of $23.09 and a twelve month high of $44.09. The firm has a market cap of $801.87 million, a P/E ratio of -12.64 and a beta of 1.57.
Fulgent Genetics (NASDAQ:FLGT – Get Free Report) last issued its earnings results on Friday, November 3rd. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.07). Fulgent Genetics had a negative net margin of 22.17% and a negative return on equity of 4.59%. The business had revenue of $84.70 million for the quarter, compared to analyst estimates of $64.42 million. During the same quarter last year, the firm posted $0.11 earnings per share. Fulgent Genetics’s revenue was down 19.9% on a year-over-year basis. On average, equities analysts forecast that Fulgent Genetics, Inc. will post -2.09 earnings per share for the current fiscal year.
Fulgent Genetics 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.
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