Allianz Asset Management GmbH Takes Position in Fulgent Genetics, Inc. $FLGT

Allianz Asset Management GmbH purchased a new stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 41,384 shares of the company’s stock, valued at approximately $823,000. Allianz Asset Management GmbH owned approximately 0.14% of Fulgent Genetics at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FLGT. Signaturefd LLC lifted its stake in shares of Fulgent Genetics by 60.4% during the 2nd quarter. Signaturefd LLC now owns 1,914 shares of the company’s stock valued at $38,000 after buying an additional 721 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Fulgent Genetics by 122.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company’s stock valued at $60,000 after buying an additional 1,963 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Fulgent Genetics by 106.4% during the 1st quarter. GAMMA Investing LLC now owns 4,402 shares of the company’s stock valued at $74,000 after buying an additional 2,269 shares in the last quarter. State of Wyoming lifted its stake in shares of Fulgent Genetics by 111.1% during the 1st quarter. State of Wyoming now owns 6,564 shares of the company’s stock valued at $111,000 after buying an additional 3,455 shares in the last quarter. Finally, Headlands Technologies LLC lifted its stake in shares of Fulgent Genetics by 8.0% during the 1st quarter. Headlands Technologies LLC now owns 7,041 shares of the company’s stock valued at $119,000 after buying an additional 524 shares in the last quarter. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

Fulgent Genetics Price Performance

Shares of NASDAQ:FLGT opened at $23.74 on Monday. The company’s fifty day moving average price is $22.37 and its 200-day moving average price is $20.55. The firm has a market capitalization of $726.68 million, a price-to-earnings ratio of -14.30 and a beta of 0.97. Fulgent Genetics, Inc. has a one year low of $14.57 and a one year high of $24.64.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.30. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The firm had revenue of $81.80 million for the quarter, compared to analyst estimates of $76.21 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The business’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. As a group, equities research analysts expect 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 1,199 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $21.48, for a total transaction of $25,754.52. Following the transaction, the chief operating officer owned 365,249 shares of the company’s stock, valued at approximately $7,845,548.52. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 5,577 shares of company stock worth $121,024. 33.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FLGT. Weiss Ratings restated a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Saturday. UBS Group upgraded shares of Fulgent Genetics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $20.00 to $30.00 in a research note on Tuesday, August 5th. Finally, Piper Sandler set a $21.00 target price on shares of Fulgent Genetics and gave the stock a “neutral” rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Fulgent Genetics has an average rating of “Hold” and an average target price of $25.33.

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.