Deutsche Bank AG Has $2.43 Million Stock Holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Deutsche Bank AG raised its position in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 6.1% during the fourth quarter, Holdings Channel reports. The firm owned 131,430 shares of the company’s stock after purchasing an additional 7,532 shares during the period. Deutsche Bank AG’s holdings in Fulgent Genetics were worth $2,428,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLGT. Barclays PLC lifted its position in shares of Fulgent Genetics by 22.6% in the 3rd quarter. Barclays PLC now owns 174,855 shares of the company’s stock worth $3,800,000 after purchasing an additional 32,250 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Fulgent Genetics by 5.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 35,324 shares of the company’s stock worth $652,000 after purchasing an additional 1,689 shares during the period. R Squared Ltd acquired a new position in shares of Fulgent Genetics in the 4th quarter worth approximately $74,000. Empowered Funds LLC lifted its position in shares of Fulgent Genetics by 5.1% in the 4th quarter. Empowered Funds LLC now owns 95,011 shares of the company’s stock worth $1,755,000 after purchasing an additional 4,609 shares during the period. Finally, Peapod Lane Capital LLC acquired a new position in shares of Fulgent Genetics in the 4th quarter worth approximately $2,022,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

Wall Street Analyst Weigh In

FLGT has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Raymond James reiterated an “outperform” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Fulgent Genetics in a research note on Monday, May 5th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $23.00 price objective (up previously from $16.00) on shares of Fulgent Genetics in a research note on Tuesday, May 6th.

Insider Transactions at Fulgent Genetics

In related news, CFO Paul Kim purchased 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $15.96 per share, with a total value of $1,596,000.00. Following the acquisition, the chief financial officer now owns 348,282 shares of the company’s stock, valued at $5,558,580.72. This represents a 40.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 31.76% of the company’s stock.

Fulgent Genetics Trading Down 4.4%

Shares of FLGT stock opened at $20.28 on Thursday. The firm has a market capitalization of $617.40 million, a PE ratio of -3.67 and a beta of 1.00. The firm has a fifty day simple moving average of $18.28 and a two-hundred day simple moving average of $18.08. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $25.11.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.22. Fulgent Genetics had a negative net margin of 59.39% and a negative return on equity of 1.81%. The business had revenue of $73.46 million during the quarter, compared to analyst estimates of $71.26 million. During the same quarter in the previous year, the business posted ($0.01) EPS. Fulgent Genetics’s quarterly revenue was up 14.0% on a year-over-year basis. On average, equities analysts predict that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

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.