GAMMA Investing LLC Acquires 72,261 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

GAMMA Investing LLC raised its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 3,387.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,394 shares of the company’s stock after purchasing an additional 72,261 shares during the quarter. GAMMA Investing LLC owned 0.24% of Fulgent Genetics worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC grew its stake in shares of Fulgent Genetics by 20.6% during the 4th quarter. Millennium Management LLC now owns 1,531,801 shares of the company’s stock worth $28,292,000 after acquiring an additional 261,152 shares during the period. Geode Capital Management LLC grew its stake in shares of Fulgent Genetics by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 514,152 shares of the company’s stock worth $9,499,000 after acquiring an additional 11,283 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Fulgent Genetics by 40.8% during the 4th quarter. Ameriprise Financial Inc. now owns 501,809 shares of the company’s stock worth $9,268,000 after acquiring an additional 145,518 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Fulgent Genetics by 39.4% during the 4th quarter. JPMorgan Chase & Co. now owns 471,259 shares of the company’s stock worth $8,704,000 after acquiring an additional 133,215 shares during the period. Finally, Invenomic Capital Management LP grew its stake in shares of Fulgent Genetics by 3.7% during the 4th quarter. Invenomic Capital Management LP now owns 259,010 shares of the company’s stock worth $4,784,000 after acquiring an additional 9,263 shares during the period. Institutional investors own 48.06% of the company’s stock.

Analysts Set New Price Targets

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

Fulgent Genetics Stock Down 1.4%

Shares of NASDAQ FLGT opened at $20.69 on Monday. Fulgent Genetics, Inc. has a 52 week low of $14.57 and a 52 week high of $25.11. The business has a 50-day simple moving average of $19.59 and a two-hundred day simple moving average of $18.31. The company has a market cap of $629.89 million, a P/E ratio of -3.75 and a beta of 1.06.

Fulgent Genetics (NASDAQ:FLGT) last issued its earnings results on Friday, May 2nd. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.22. The business had revenue of $73.46 million during the quarter, compared to the consensus estimate of $71.26 million. Fulgent Genetics had a negative return on equity of 1.81% and a negative net margin of 59.39%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) EPS. Equities research analysts anticipate that Fulgent Genetics, Inc. will post -0.85 EPS for the current year.

Insider Activity at Fulgent Genetics

In related news, COO Jian Xie sold 1,873 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $20.54, for a total transaction of $38,471.42. Following the transaction, the chief operating officer now directly owns 372,631 shares of the company’s stock, valued at approximately $7,653,840.74. This trade represents a 0.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 31.76% of the stock is currently owned by insiders.

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.