Fulgent Genetics, Inc. (NASDAQ:FLGT) Shares Acquired by Texas Permanent School Fund

Texas Permanent School Fund lifted its position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGTGet Rating) by 3.6% during the second quarter, HoldingsChannel reports. The fund owned 14,248 shares of the company’s stock after acquiring an additional 501 shares during the quarter. Texas Permanent School Fund’s holdings in Fulgent Genetics were worth $777,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. increased its stake in shares of Fulgent Genetics by 416.8% during the first quarter. Geneos Wealth Management Inc. now owns 491 shares of the company’s stock worth $30,000 after acquiring an additional 396 shares during the period. Total Clarity Wealth Management Inc. acquired a new position in shares of Fulgent Genetics during the second quarter worth about $29,000. Nisa Investment Advisors LLC acquired a new position in shares of Fulgent Genetics during the first quarter worth about $44,000. Banque Cantonale Vaudoise increased its stake in shares of Fulgent Genetics by 86.6% during the second quarter. Banque Cantonale Vaudoise now owns 1,153 shares of the company’s stock worth $63,000 after acquiring an additional 535 shares during the period. Finally, KBC Group NV acquired a new position in shares of Fulgent Genetics during the second quarter worth about $93,000. 43.22% of the stock is currently owned by institutional investors and hedge funds.

Fulgent Genetics Price Performance

FLGT stock opened at $37.05 on Monday. The company’s 50 day simple moving average is $38.33 and its 200-day simple moving average is $47.91. The firm has a market capitalization of $1.09 billion, a PE ratio of 4.26 and a beta of 1.54. Fulgent Genetics, Inc. has a 12 month low of $31.07 and a 12 month high of $109.55.

Fulgent Genetics (NASDAQ:FLGTGet Rating) last released its quarterly earnings results on Monday, November 7th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.13. The business had revenue of $105.66 million for the quarter, compared to analyst estimates of $103.70 million. Fulgent Genetics had a net margin of 33.82% and a return on equity of 22.10%. As a group, sell-side analysts anticipate that Fulgent Genetics, Inc. will post 4.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FLGT shares. Credit Suisse Group dropped their price target on shares of Fulgent Genetics from $65.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, November 14th. TheStreet lowered shares of Fulgent Genetics from a “b-” rating to a “c+” rating in a research report on Thursday, July 28th. Piper Sandler lowered their target price on shares of Fulgent Genetics from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, November 14th. Raymond James started coverage on shares of Fulgent Genetics in a research report on Friday. They set an “outperform” rating and a $45.00 target price on the stock. Finally, StockNews.com started coverage on shares of Fulgent Genetics in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.25.

Insider Activity

In other news, CFO Paul Kim sold 662 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $41.39, for a total value of $27,400.18. Following the sale, the chief financial officer now directly owns 149,507 shares in the company, valued at $6,188,094.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Jian Xie sold 675 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $44.18, for a total transaction of $29,821.50. Following the transaction, the chief operating officer now owns 309,729 shares of the company’s stock, valued at $13,683,827.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul Kim sold 662 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $41.39, for a total transaction of $27,400.18. Following the transaction, the chief financial officer now directly owns 149,507 shares in the company, valued at approximately $6,188,094.73. The disclosure for this sale can be found here. Company insiders own 29.50% of the company’s stock.

About Fulgent Genetics

(Get Rating)

Fulgent Genetics, Inc, together with its subsidiaries, provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients in the United States and internationally. The company offers genetic tests comprising Focus and Comprehensive oncology panels tests; Beacon carrier screening panels test for inherited conditions; solid tumor molecular profiling for somatic cancer testing; rapid whole genome testing for children in NICU and PICU; newborn genetic analysis panel; single front-line test to detect ataxia-related variants and repeat expansions through sequencing; picture genetics, a patient-initiated genetic testing; whole exome and clinical exome panel tests; whole genome, mutation, and repeat expansion testing services, as well as research service tests.

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Institutional Ownership by Quarter for Fulgent Genetics (NASDAQ:FLGT)

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