Two Sigma Investments LP Trims Stock Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Two Sigma Investments LP lowered its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 3.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 80,082 shares of the company’s stock after selling 2,749 shares during the period. Two Sigma Investments LP owned about 0.26% of Fulgent Genetics worth $1,479,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Fulgent Genetics by 803.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,957 shares of the company’s stock valued at $2,326,000 after buying an additional 112,011 shares during the last quarter. Inlight Wealth Management LLC purchased a new position in shares of Fulgent Genetics during the 4th quarter valued at about $685,000. Intech Investment Management LLC raised its stake in shares of Fulgent Genetics by 248.3% during the 4th quarter. Intech Investment Management LLC now owns 43,539 shares of the company’s stock valued at $804,000 after buying an additional 31,037 shares during the last quarter. Northern Trust Corp raised its stake in shares of Fulgent Genetics by 5.8% during the 4th quarter. Northern Trust Corp now owns 225,362 shares of the company’s stock valued at $4,162,000 after buying an additional 12,291 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Fulgent Genetics during the 4th quarter valued at about $411,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Insider Activity at Fulgent Genetics

In other Fulgent Genetics news, COO Jian Xie sold 1,873 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $20.54, for a total transaction of $38,471.42. Following the completion of the sale, the chief operating officer now directly owns 372,631 shares in the company, valued at approximately $7,653,840.74. The trade was a 0.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.76% of the stock is owned by company insiders.

Fulgent Genetics Stock Up 2.4%

Shares of Fulgent Genetics stock opened at $21.17 on Wednesday. Fulgent Genetics, Inc. has a twelve month low of $14.57 and a twelve month high of $25.11. The business has a 50-day moving average price of $18.92 and a 200 day moving average price of $18.10. The firm has a market cap of $644.50 million, a PE ratio of -3.84 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

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