Public Sector Pension Investment Board Lowers Holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Public Sector Pension Investment Board trimmed its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,472 shares of the company’s stock after selling 2,300 shares during the quarter. Public Sector Pension Investment Board’s holdings in Fulgent Genetics were worth $923,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Asset Dedication LLC purchased a new stake in Fulgent Genetics in the second quarter valued at $33,000. nVerses Capital LLC purchased a new stake in shares of Fulgent Genetics during the 2nd quarter worth about $43,000. Signaturefd LLC boosted its stake in shares of 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 stake in shares of Fulgent Genetics during the 2nd quarter worth about $63,000. Finally, Gladius Capital Management LP purchased a new stake in shares of Fulgent Genetics during the 3rd quarter worth about $81,000. 48.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ming Hsieh sold 2,227 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.26, for a total transaction of $40,665.02. Following the completion of the transaction, the chief executive officer now owns 703,711 shares in the company, valued at $12,849,762.86. This represents a 0.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 3,413 shares of company stock worth $62,321 in the last 90 days. Insiders own 31.76% of the company’s stock.

Fulgent Genetics Stock Up 2.0 %

FLGT opened at $20.09 on Friday. Fulgent Genetics, Inc. has a twelve month low of $16.56 and a twelve month high of $30.68. The company has a 50-day moving average price of $19.65 and a 200 day moving average price of $21.03. The company has a market cap of $614.55 million, a PE ratio of -3.64 and a beta of 1.42.

Analyst Ratings Changes

FLGT has been the topic of several recent analyst reports. Piper Sandler lowered their target price on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. StockNews.com lowered shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

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.