Fulgent Genetics, Inc. (NASDAQ:FLGT) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP reduced its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 22.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,391 shares of the company’s stock after selling 3,339 shares during the period. Dark Forest Capital Management LP’s holdings in Fulgent Genetics were worth $223,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FLGT. Asset Dedication LLC acquired a new position in Fulgent Genetics during the second quarter worth $33,000. nVerses Capital LLC purchased a new stake in shares of Fulgent Genetics in the 2nd quarter valued at $43,000. Signaturefd LLC lifted its stake in Fulgent Genetics by 103.6% during the 2nd quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock worth $44,000 after acquiring an additional 1,132 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Fulgent Genetics during the 2nd quarter valued at about $63,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Fulgent Genetics in the 1st quarter valued at about $178,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

Insider Buying and Selling

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,313 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $22.83, for a total value of $52,805.79. Following the sale, the chief executive officer now owns 707,275 shares of the company’s stock, valued at approximately $16,147,088.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 4,324 shares of company stock valued at $98,717 in the last three months. 31.76% of the stock is owned by corporate insiders.

Fulgent Genetics Stock Performance

Shares of FLGT opened at $21.73 on Tuesday. The company’s 50-day simple moving average is $22.80 and its 200-day simple moving average is $21.62. Fulgent Genetics, Inc. has a 1 year low of $18.91 and a 1 year high of $30.68. The stock has a market capitalization of $650.25 million, a PE ratio of -3.90 and a beta of 1.50.

Fulgent Genetics (NASDAQ:FLGT) last released its earnings results on Friday, August 2nd. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.45. The company had revenue of $71.03 million for the quarter, compared to analyst estimates of $69.07 million. Fulgent Genetics had a negative net margin of 56.22% and a negative return on equity of 2.75%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.33) EPS. On average, sell-side analysts predict that Fulgent Genetics, Inc. will post -1.46 earnings per share for the current 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.