Principal Financial Group Inc. Sells 6,020 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Principal Financial Group Inc. reduced its position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 6.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 94,311 shares of the company’s stock after selling 6,020 shares during the quarter. Principal Financial Group Inc.’s holdings in Fulgent Genetics were worth $2,049,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Fulgent Genetics by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,424,448 shares of the company’s stock valued at $30,911,000 after acquiring an additional 8,257 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Fulgent Genetics by 34.3% during the second quarter. Millennium Management LLC now owns 958,852 shares of the company’s stock valued at $18,813,000 after purchasing an additional 244,981 shares in the last quarter. Divisadero Street Capital Management LP boosted its position in shares of Fulgent Genetics by 46.4% during the second quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock valued at $9,912,000 after buying an additional 160,212 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in 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 worth $3,948,000 after buying an additional 55,020 shares in the last quarter. Finally, TCW Group Inc. raised its position in Fulgent Genetics by 3.0% in the 2nd quarter. TCW Group Inc. now owns 120,100 shares of the company’s stock worth $2,356,000 after buying an additional 3,500 shares during the last quarter. 48.06% of the stock is owned by hedge funds and other institutional investors.

Fulgent Genetics Stock Up 5.4 %

Fulgent Genetics stock opened at $17.87 on Friday. Fulgent Genetics, Inc. has a 52-week low of $16.56 and a 52-week high of $30.68. The company has a market cap of $546.59 million, a P/E ratio of -3.24 and a beta of 1.51. The business has a 50-day simple moving average of $20.22 and a two-hundred day simple moving average of $21.23.

Insider Buying and Selling

In other news, CEO Ming Hsieh sold 2,313 shares of Fulgent Genetics 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 transaction, the chief executive officer now directly owns 707,275 shares of the company’s stock, valued at $16,147,088.25. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 4,324 shares of company stock valued at $98,717. 31.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FLGT has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. StockNews.com upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday.

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.