Amalgamated Bank Decreases Stake in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Amalgamated Bank cut its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 11.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 5,909 shares of the company’s stock after selling 783 shares during the quarter. Amalgamated Bank’s holdings in Fulgent Genetics were worth $116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Fulgent Genetics by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,424,448 shares of the company’s stock valued at $30,911,000 after purchasing an additional 8,257 shares during the last quarter. Park West Asset Management LLC lifted its stake in Fulgent Genetics by 23.1% during the 4th quarter. Park West Asset Management LLC now owns 424,783 shares of the company’s stock valued at $12,280,000 after acquiring an additional 79,649 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Fulgent Genetics by 37.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company’s stock valued at $3,948,000 after acquiring an additional 55,020 shares during the last quarter. TCW Group Inc. increased its stake in shares of Fulgent Genetics by 3.0% in the second quarter. TCW Group Inc. now owns 120,100 shares of the company’s stock worth $2,356,000 after acquiring an additional 3,500 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Fulgent Genetics by 8.1% during the first quarter. Empowered Funds LLC now owns 109,167 shares of the company’s stock worth $2,369,000 after purchasing an additional 8,225 shares during the last quarter. 48.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fulgent Genetics

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

Fulgent Genetics Stock Performance

NASDAQ:FLGT opened at $21.07 on Wednesday. The firm’s fifty day moving average is $22.77 and its two-hundred day moving average is $21.61. The firm has a market cap of $630.50 million, a price-to-earnings ratio of -3.78 and a beta of 1.50. Fulgent Genetics, Inc. has a one year low of $18.91 and a one year high of $30.68.

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

Fulgent Genetics Company 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.