Fulgent Genetics, Inc. (NASDAQ:FLGT) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its position in Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) by 18.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,832 shares of the company’s stock after selling 7,371 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Fulgent Genetics worth $978,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in Fulgent Genetics by 416.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 491 shares of the company’s stock valued at $30,000 after purchasing an additional 396 shares during the last quarter. Covington Capital Management grew its holdings in Fulgent Genetics by 133.3% in the 3rd quarter. Covington Capital Management now owns 700 shares of the company’s stock valued at $27,000 after buying an additional 400 shares during the period. Nisa Investment Advisors LLC grew its holdings in Fulgent Genetics by 829.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,775 shares of the company’s stock valued at $53,000 after buying an additional 1,584 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Fulgent Genetics by 1,120.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,148 shares of the company’s stock valued at $81,000 after buying an additional 1,972 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Fulgent Genetics by 110.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,369 shares of the company’s stock valued at $128,000 after buying an additional 1,765 shares during the period. Institutional investors and hedge funds own 43.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Credit Suisse Group lowered their price target on Fulgent Genetics from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, March 2nd. StockNews.com initiated coverage on Fulgent Genetics in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Piper Sandler boosted their target price on Fulgent Genetics from $35.00 to $37.00 in a report on Monday, May 8th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fulgent Genetics currently has a consensus rating of “Moderate Buy” and an average price target of $42.33.

Fulgent Genetics Stock Performance

Shares of NASDAQ:FLGT opened at $39.92 on Friday. The stock has a market capitalization of $1.19 billion, a P/E ratio of -44.85 and a beta of 1.55. Fulgent Genetics, Inc. has a 1 year low of $28.27 and a 1 year high of $65.17. The stock has a 50-day simple moving average of $32.20 and a 200-day simple moving average of $32.86.

Fulgent Genetics (NASDAQ:FLGT – Get Rating) last released its quarterly earnings results on Friday, May 5th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.21. The firm had revenue of $66.17 million during the quarter, compared to analysts’ expectations of $61.95 million. Fulgent Genetics had a negative return on equity of 1.05% and a negative net margin of 7.10%. Analysts predict that Fulgent Genetics, Inc. will post -2.23 earnings per share for the current year.

Fulgent Genetics Profile

(Get Rating)

Fulgent Genetics, Inc is a technology company, which engages in the provision of gene testing and sequencing solutions. It offers genes and panels, known mutation, hereditary cancer, carrier screening, and tumor profiling solutions. The company was founded by Ming Hsieh on May 13, 2016 and is headquartered in El Monte, CA.