GAMMA Investing LLC Acquires 667 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

GAMMA Investing LLC boosted its position in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 45.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,133 shares of the company’s stock after acquiring an additional 667 shares during the period. GAMMA Investing LLC’s holdings in Fulgent Genetics were worth $39,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in Fulgent Genetics by 113.2% in the third quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock worth $7,346,000 after buying an additional 179,477 shares during the period. Franklin Resources Inc. bought a new position in shares of Fulgent Genetics in the 3rd quarter worth approximately $215,000. Geode Capital Management LLC lifted its stake in shares of Fulgent Genetics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 502,869 shares of the company’s stock valued at $10,930,000 after purchasing an additional 13,320 shares during the period. Barclays PLC boosted its position in shares of Fulgent Genetics by 22.6% during the third quarter. Barclays PLC now owns 174,855 shares of the company’s stock valued at $3,800,000 after purchasing an additional 32,250 shares in the last quarter. Finally, State Street Corp grew its stake in Fulgent Genetics by 1.4% in the third quarter. State Street Corp now owns 793,545 shares of the company’s stock worth $17,244,000 after purchasing an additional 10,868 shares during the period. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Insider Activity

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of Fulgent Genetics stock in a transaction on 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 directly owns 703,711 shares of the company’s stock, valued at $12,849,762.86. The trade was a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 3,413 shares of company stock worth $62,321 over the last 90 days. Corporate insiders own 31.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FLGT. Piper Sandler reduced their price target on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, November 11th. StockNews.com cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

Fulgent Genetics Price Performance

FLGT opened at $17.13 on Wednesday. The firm has a market cap of $523.96 million, a P/E ratio of -3.10 and a beta of 1.40. Fulgent Genetics, Inc. has a 1-year low of $16.56 and a 1-year high of $27.56. The company has a 50 day simple moving average of $18.85 and a two-hundred day simple moving average of $20.73.

About Fulgent Genetics

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.