Ameriprise Financial Inc. Purchases 145,518 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Ameriprise Financial Inc. boosted its position in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 40.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 501,809 shares of the company’s stock after purchasing an additional 145,518 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.64% of Fulgent Genetics worth $9,268,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Fulgent Genetics by 22.6% during the third quarter. Barclays PLC now owns 174,855 shares of the company’s stock valued at $3,800,000 after buying an additional 32,250 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Fulgent Genetics by 5.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 35,324 shares of the company’s stock valued at $652,000 after buying an additional 1,689 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Fulgent Genetics during the fourth quarter valued at $74,000. Empowered Funds LLC boosted its position in shares of Fulgent Genetics by 5.1% during the fourth quarter. Empowered Funds LLC now owns 95,011 shares of the company’s stock valued at $1,755,000 after buying an additional 4,609 shares during the last quarter. Finally, Peapod Lane Capital LLC purchased a new stake in shares of Fulgent Genetics during the fourth quarter valued at $2,022,000. Institutional investors own 48.06% of the company’s stock.

Insider Transactions at Fulgent Genetics

In related news, CFO Paul Kim bought 100,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the purchase, the chief financial officer now directly owns 348,282 shares of the company’s stock, valued at $5,558,580.72. This represents a 40.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 31.76% of the company’s stock.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT opened at $21.22 on Wednesday. The business has a fifty day simple moving average of $18.22 and a two-hundred day simple moving average of $18.07. The firm has a market cap of $646.02 million, a PE ratio of -3.84 and a beta of 1.00. Fulgent Genetics, Inc. has a twelve month low of $14.57 and a twelve month high of $25.11.

Fulgent Genetics (NASDAQ:FLGT) last announced its earnings results on Friday, May 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.22. Fulgent Genetics had a negative return on equity of 1.81% and a negative net margin of 59.39%. The company had revenue of $73.46 million for the quarter, compared to analyst estimates of $71.26 million. During the same period in the prior year, the company posted ($0.01) EPS. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. On average, research analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on FLGT. Raymond James reissued an “outperform” rating and issued a $25.00 target price (up previously from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $23.00 price objective (up previously from $16.00) on shares of Fulgent Genetics in a research note on Tuesday, May 6th. Finally, StockNews.com raised Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th.

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 sequencer services related to hereditary cancer, reproductive health, and other diseases.