Fulgent Genetics, Inc. $FLGT Shares Purchased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. boosted its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 28.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,820 shares of the company’s stock after buying an additional 45,279 shares during the period. Goldman Sachs Group Inc. owned 0.67% of Fulgent Genetics worth $3,428,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Headlands Technologies LLC boosted its position in shares of Fulgent Genetics by 8.0% in the 1st quarter. Headlands Technologies LLC now owns 7,041 shares of the company’s stock valued at $119,000 after purchasing an additional 524 shares during the period. Aigen Investment Management LP boosted its position in shares of Fulgent Genetics by 11.3% in the 1st quarter. Aigen Investment Management LP now owns 13,081 shares of the company’s stock valued at $221,000 after purchasing an additional 1,328 shares during the period. Hsbc Holdings PLC boosted its position in shares of Fulgent Genetics by 2.1% in the 1st quarter. Hsbc Holdings PLC now owns 82,571 shares of the company’s stock valued at $1,404,000 after purchasing an additional 1,695 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Fulgent Genetics by 122.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company’s stock valued at $60,000 after purchasing an additional 1,963 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Fulgent Genetics by 106.4% in the 1st quarter. GAMMA Investing LLC now owns 4,402 shares of the company’s stock worth $74,000 after acquiring an additional 2,269 shares in the last quarter. Institutional investors own 48.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Piper Sandler set a $21.00 price target on Fulgent Genetics and gave the stock a “neutral” rating in a research note on Monday, August 4th. UBS Group raised Fulgent Genetics from a “neutral” rating to a “buy” rating and raised their target price for the company from $20.00 to $30.00 in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.33.

Insider Buying and Selling at Fulgent Genetics

In other news, COO Jian Xie sold 1,199 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $21.48, for a total value of $25,754.52. Following the transaction, the chief operating officer owned 365,249 shares in the company, valued at $7,845,548.52. The trade was a 0.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 5,577 shares of company stock valued at $121,024. 31.76% of the stock is owned by insiders.

Fulgent Genetics Stock Performance

Shares of FLGT stock opened at $22.49 on Friday. The stock’s fifty day moving average price is $20.48 and its two-hundred day moving average price is $19.48. The company has a market cap of $688.42 million, a PE ratio of -13.55 and a beta of 0.82. Fulgent Genetics, Inc. has a fifty-two week low of $14.57 and a fifty-two week high of $23.47.

Fulgent Genetics (NASDAQ:FLGT) last announced its earnings results on Friday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.30. Fulgent Genetics had a negative return on equity of 2.26% and a negative net margin of 16.83%.The business had revenue of $81.80 million during the quarter, compared to analyst estimates of $76.21 million. During the same period last year, the company earned $0.15 EPS. Fulgent Genetics’s revenue for the quarter was up 15.2% compared to the same quarter last year. Fulgent Genetics has set its FY 2025 guidance at -0.350–0.350 EPS. On average, equities analysts predict that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.

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.