UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 5,898 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 15.2% during the 3rd quarter, Holdings Channel reports. The fund owned 44,668 shares of the company’s stock after purchasing an additional 5,898 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Fulgent Genetics were worth $971,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FLGT. Millennium Management LLC increased its position in Fulgent Genetics by 34.3% during the 2nd quarter. Millennium Management LLC now owns 958,852 shares of the company’s stock valued at $18,813,000 after buying an additional 244,981 shares in the last quarter. Divisadero Street Capital Management LP raised its stake in shares of Fulgent Genetics by 46.4% during the 2nd quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock worth $9,912,000 after buying an additional 160,212 shares during the period. Bank of New York Mellon Corp lifted its holdings in Fulgent Genetics by 37.6% during the second quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company’s stock valued at $3,948,000 after purchasing an additional 55,020 shares in the last quarter. Acadian Asset Management LLC increased its stake in Fulgent Genetics by 593.5% during the 2nd quarter. Acadian Asset Management LLC now owns 62,724 shares of the company’s stock worth $1,227,000 after buying an additional 53,680 shares in the last quarter. Finally, Acuitas Investments LLC acquired a new position in Fulgent Genetics in the 2nd quarter valued at $962,000. Institutional investors own 48.06% of the company’s stock.

Insider Transactions at Fulgent Genetics

In other news, CEO Ming Hsieh sold 2,227 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $18.26, for a total value of $40,665.02. Following the completion of the transaction, the chief executive officer now owns 703,711 shares in the company, valued at approximately $12,849,762.86. This represents a 0.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders sold 3,413 shares of company stock valued at $62,321. Insiders own 31.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FLGT. StockNews.com lowered shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Piper Sandler dropped their target price on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, November 11th.

Fulgent Genetics Stock Performance

Shares of Fulgent Genetics stock opened at $18.74 on Thursday. Fulgent Genetics, Inc. has a one year low of $16.56 and a one year high of $30.68. The business has a 50-day simple moving average of $19.50 and a 200-day simple moving average of $20.95. The company has a market cap of $573.20 million, a PE ratio of -3.39 and a beta of 1.42.

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.