Fmr LLC Reduces Stock Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Fmr LLC trimmed its position in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 28.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,456 shares of the company’s stock after selling 953 shares during the quarter. Fmr LLC’s holdings in Fulgent Genetics were worth $53,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of FLGT. Caxton Associates LP acquired a new position in Fulgent Genetics in the 2nd quarter worth approximately $492,000. Divisadero Street Capital Management LP boosted its holdings in shares of Fulgent Genetics by 46.4% in the 2nd quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock valued at $9,912,000 after acquiring an additional 160,212 shares during the last quarter. Algert Global LLC raised its holdings in shares of Fulgent Genetics by 46.1% during the second quarter. Algert Global LLC now owns 81,440 shares of the company’s stock worth $1,598,000 after purchasing an additional 25,680 shares during the last quarter. Acadian Asset Management LLC lifted its position in Fulgent Genetics by 593.5% during the second quarter. Acadian Asset Management LLC now owns 62,724 shares of the company’s stock valued at $1,227,000 after purchasing an additional 53,680 shares during the period. Finally, Millennium Management LLC boosted its holdings in Fulgent Genetics by 34.3% in 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 during the last quarter. Institutional investors and hedge funds own 48.06% of the company’s stock.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.26, for a total value of $40,665.02. Following the sale, the chief executive officer now directly owns 703,711 shares of the company’s stock, valued at approximately $12,849,762.86. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 3,413 shares of company stock valued at $62,321. Corporate insiders own 32.66% of the company’s stock.

Analysts Set New Price Targets

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

Fulgent Genetics Price Performance

FLGT opened at $18.51 on Wednesday. The firm has a fifty day moving average price of $19.41 and a 200 day moving average price of $20.90. Fulgent Genetics, Inc. has a 1 year low of $16.56 and a 1 year high of $30.60. The stock has a market cap of $566.17 million, a P/E ratio of -3.35 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.