SG Americas Securities LLC Purchases New Position in Fulgent Genetics, Inc. $FLGT

SG Americas Securities LLC acquired a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,167 shares of the company’s stock, valued at approximately $433,000. SG Americas Securities LLC owned 0.06% of Fulgent Genetics at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FLGT. Acadian Asset Management LLC raised its position in shares of Fulgent Genetics by 38.7% in the 2nd quarter. Acadian Asset Management LLC now owns 1,117,917 shares of the company’s stock worth $22,208,000 after acquiring an additional 311,976 shares in the last quarter. Geode Capital Management LLC raised its holdings in Fulgent Genetics by 1.6% in the second quarter. Geode Capital Management LLC now owns 513,343 shares of the company’s stock worth $10,207,000 after purchasing an additional 8,105 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Fulgent Genetics by 22.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 305,180 shares of the company’s stock worth $6,067,000 after purchasing an additional 55,521 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Fulgent Genetics by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock valued at $3,428,000 after buying an additional 45,279 shares during the period. Finally, Diametric Capital LP bought a new stake in shares of Fulgent Genetics during the 2nd quarter valued at $3,359,000. 48.06% of the stock is owned by institutional investors.

Fulgent Genetics Stock Down 1.2%

NASDAQ:FLGT opened at $27.82 on Friday. The stock has a market cap of $859.92 million, a price-to-earnings ratio of -20.01 and a beta of 0.63. The company’s 50 day moving average price is $27.90 and its 200-day moving average price is $23.96. Fulgent Genetics, Inc. has a 52 week low of $14.57 and a 52 week high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings data on Friday, November 7th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.36. The company had revenue of $84.07 million during the quarter, compared to analyst estimates of $81.43 million. Fulgent Genetics had a negative net margin of 13.62% and a negative return on equity of 2.55%. Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. As a group, sell-side analysts anticipate that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Insider Activity

In other Fulgent Genetics news, insider Hanlin Gao sold 1,075 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $28.33, for a total value of $30,454.75. Following the completion of the transaction, the insider owned 952,890 shares of the company’s stock, valued at approximately $26,995,373.70. The trade was a 0.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jian Xie sold 1,140 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $28.33, for a total transaction of $32,296.20. Following the transaction, the chief operating officer owned 336,749 shares in the company, valued at $9,540,099.17. This represents a 0.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,572 shares of company stock valued at $454,112 over the last quarter. 31.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FLGT has been the subject of a number of recent research reports. Wall Street Zen cut shares of Fulgent Genetics from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Zacks Research upgraded shares of Fulgent Genetics from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fulgent Genetics in a research report on Thursday. Piper Sandler upped their price target on Fulgent Genetics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $36.00 price objective on shares of Fulgent Genetics in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.00.

Fulgent Genetics Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.