Fulgent Genetics, Inc. (NASDAQ:FLGT) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,231 shares of the company’s stock after selling 731 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of Fulgent Genetics worth $602,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FLGT. Geneos Wealth Management Inc. increased its stake in Fulgent Genetics by 416.8% in the first 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 increased its stake in Fulgent Genetics by 133.3% in the third quarter. Covington Capital Management now owns 700 shares of the company’s stock valued at $27,000 after purchasing an additional 400 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Fulgent Genetics by 829.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,775 shares of the company’s stock valued at $53,000 after purchasing an additional 1,584 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Fulgent Genetics by 1,120.5% in the third quarter. Rockefeller Capital Management L.P. now owns 2,148 shares of the company’s stock valued at $81,000 after purchasing an additional 1,972 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Fulgent Genetics by 110.0% in the third quarter. Tower Research Capital LLC TRC now owns 3,369 shares of the company’s stock valued at $128,000 after purchasing an additional 1,765 shares during the last quarter. Institutional investors and hedge funds own 43.22% of the company’s stock.

Wall Street Analysts Forecast Growth

FLGT has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of Fulgent Genetics in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Piper Sandler raised their target price on shares of Fulgent Genetics from $35.00 to $37.00 in a research report on Monday, May 8th. Finally, Credit Suisse Group lowered their target price on shares of Fulgent Genetics from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, March 2nd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.33.

Fulgent Genetics Price Performance

NASDAQ:FLGT opened at $39.92 on Friday. The firm’s fifty day moving average price is $32.20 and its 200 day moving average price is $32.86. Fulgent Genetics, Inc. has a 1-year low of $28.27 and a 1-year high of $65.17. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -44.85 and a beta of 1.55.

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

About Fulgent Genetics

(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.