Russell Investments Group Ltd. Has $490,000 Position in Fulgent Genetics, Inc. $FLGT

Russell Investments Group Ltd. lifted its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 973.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,906 shares of the company’s stock after acquiring an additional 26,213 shares during the period. Russell Investments Group Ltd. owned 0.09% of Fulgent Genetics worth $490,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Northern Trust Corp lifted its position 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 acquiring an additional 12,291 shares during the period. Peapod Lane Capital LLC lifted its position in shares of Fulgent Genetics by 48.2% during the 1st quarter. Peapod Lane Capital LLC now owns 162,227 shares of the company’s stock valued at $2,742,000 after acquiring an additional 52,768 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Fulgent Genetics during the 1st quarter valued at $1,050,000. Squarepoint Ops LLC lifted its position in shares of Fulgent Genetics by 178.3% during the 4th quarter. Squarepoint Ops LLC now owns 41,608 shares of the company’s stock valued at $768,000 after acquiring an additional 26,659 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Fulgent Genetics by 3,387.8% during the 1st quarter. GAMMA Investing LLC now owns 74,394 shares of the company’s stock valued at $1,257,000 after acquiring an additional 72,261 shares during the period. Institutional investors and hedge funds own 48.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. UBS Group upgraded shares of Fulgent Genetics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $30.00 in a report on Tuesday, August 5th. Piper Sandler set a $21.00 price objective on shares of Fulgent Genetics and gave the stock a “neutral” rating in a report on Monday, August 4th. Finally, Raymond James Financial restated an “outperform” rating and set a $25.00 price objective (up previously from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.33.

Fulgent Genetics Price Performance

Shares of FLGT stock opened at $22.17 on Monday. The firm has a 50-day moving average of $19.81 and a 200-day moving average of $18.97. The company has a market cap of $678.62 million, a P/E ratio of -13.36 and a beta of 0.81. Fulgent Genetics, Inc. has a one year low of $14.57 and a one year high of $23.56.

Fulgent Genetics (NASDAQ:FLGT) last announced its earnings results on Friday, August 1st. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.30. The company had revenue of $81.80 million during the quarter, compared to the consensus estimate of $76.21 million. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 earnings per share. Fulgent Genetics has set its FY 2025 guidance at -0.350–0.350 EPS. As a group, research analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

Insider Activity at Fulgent Genetics

In related news, COO Jian Xie sold 1,199 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $21.48, for a total transaction of $25,754.52. Following the completion of the transaction, the chief operating officer owned 365,249 shares in the company, valued at approximately $7,845,548.52. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 3,386 shares of company stock valued at $72,756 in the last three months. Corporate insiders own 33.11% 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.