Geode Capital Management LLC Grows Stock Holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Geode Capital Management LLC raised its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 502,869 shares of the company’s stock after acquiring an additional 13,320 shares during the period. Geode Capital Management LLC owned approximately 1.64% of Fulgent Genetics worth $10,930,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FLGT. Bank of New York Mellon Corp increased its holdings in shares of Fulgent Genetics by 37.6% in the second quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company’s stock valued at $3,948,000 after purchasing an additional 55,020 shares during the period. Signaturefd LLC increased its stake in Fulgent Genetics by 103.6% in the 2nd quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock valued at $44,000 after buying an additional 1,132 shares during the period. nVerses Capital LLC acquired a new position in Fulgent Genetics in the 2nd quarter valued at $43,000. Rhumbline Advisers raised its position in Fulgent Genetics by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 68,210 shares of the company’s stock worth $1,338,000 after buying an additional 637 shares during the last quarter. Finally, Acuitas Investments LLC acquired a new stake in shares of Fulgent Genetics in the 2nd quarter worth $962,000. 48.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FLGT shares. StockNews.com lowered shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Piper Sandler dropped their target price on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th.

Insider Transactions at Fulgent Genetics

In other news, CEO Ming Hsieh sold 2,227 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.26, for a total transaction of $40,665.02. Following the sale, the chief executive officer now owns 703,711 shares of the company’s stock, valued at $12,849,762.86. The trade was a 0.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 3,413 shares of company stock valued at $62,321 in the last ninety days. 31.76% of the stock is currently owned by company insiders.

Fulgent Genetics Stock Performance

NASDAQ:FLGT opened at $18.47 on Wednesday. The stock has a market capitalization of $564.94 million, a price-to-earnings ratio of -3.35 and a beta of 1.42. Fulgent Genetics, Inc. has a 1 year low of $16.56 and a 1 year high of $29.91. The stock has a fifty day moving average price of $19.26 and a two-hundred day moving average price of $20.85.

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.