MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $987,000 Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 5.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 53,413 shares of the company’s stock after selling 2,800 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.17% of Fulgent Genetics worth $987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in Fulgent Genetics by 267.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company’s stock valued at $50,000 after acquiring an additional 1,960 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Fulgent Genetics during the 4th quarter worth approximately $57,000. R Squared Ltd acquired a new stake in Fulgent Genetics during the 4th quarter worth approximately $74,000. Headlands Technologies LLC bought a new stake in Fulgent Genetics in the 4th quarter valued at $120,000. Finally, Amundi grew its holdings in Fulgent Genetics by 143.7% in the 4th quarter. Amundi now owns 8,816 shares of the company’s stock valued at $166,000 after buying an additional 5,199 shares in the last quarter. Institutional investors own 48.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FLGT shares. Raymond James reissued an “outperform” rating and set a $25.00 target price (up previously from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th. Piper Sandler reissued a “neutral” rating and issued a $23.00 price objective (up previously from $16.00) on shares of Fulgent Genetics in a report on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th.

Fulgent Genetics Price Performance

Fulgent Genetics stock opened at $20.31 on Monday. The firm has a market cap of $618.32 million, a PE ratio of -3.68 and a beta of 1.00. The stock’s fifty day moving average price is $18.41 and its two-hundred day moving average price is $18.00. Fulgent Genetics, Inc. has a one year low of $14.57 and a one year high of $25.11.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $73.46 million during the quarter, compared to the consensus estimate of $71.26 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Fulgent Genetics’s revenue for the quarter was up 14.0% compared to the same quarter last year. Sell-side analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

Insider Activity

In other Fulgent Genetics news, CFO Paul Kim purchased 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the purchase, the chief financial officer now owns 348,282 shares in the company, valued at approximately $5,558,580.72. This trade represents a 40.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 31.76% of the company’s stock.

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