Northwestern Mutual Wealth Management Co. grew its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT – Free Report) by 2,984,354.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,522,072 shares of the company’s stock after acquiring an additional 1,522,021 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Fulgent Genetics were worth $39,985,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Allianz Asset Management GmbH boosted its stake in shares of Fulgent Genetics by 119.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 90,869 shares of the company’s stock valued at $2,054,000 after buying an additional 49,485 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Fulgent Genetics by 767.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 299,014 shares of the company’s stock valued at $6,758,000 after buying an additional 264,524 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Fulgent Genetics during the 4th quarter valued at approximately $1,739,000. SG Americas Securities LLC purchased a new position in shares of Fulgent Genetics during the 3rd quarter valued at approximately $433,000. Finally, Amundi raised its position in shares of Fulgent Genetics by 289.2% during the 1st quarter. Amundi now owns 34,316 shares of the company’s stock valued at $583,000 after acquiring an additional 25,500 shares in the last quarter. 48.06% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on FLGT shares. Wall Street Zen lowered Fulgent Genetics from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fulgent Genetics in a research report on Thursday, January 22nd. Piper Sandler reissued a “neutral” rating and set a $15.00 price target (down from $30.00) on shares of Fulgent Genetics in a research report on Tuesday, May 5th. Finally, Zacks Research lowered Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.00.
Fulgent Genetics Stock Performance
Fulgent Genetics stock opened at $15.85 on Tuesday. The company has a 50-day simple moving average of $15.65 and a 200-day simple moving average of $22.27. The firm has a market capitalization of $471.54 million, a P/E ratio of -6.63 and a beta of 0.88. Fulgent Genetics, Inc. has a one year low of $13.46 and a one year high of $31.04.
Fulgent Genetics (NASDAQ:FLGT – Get Free Report) last released its quarterly earnings results on Friday, February 27th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.02 by $0.14. The business had revenue of $83.34 million during the quarter, compared to analyst estimates of $85.38 million. Fulgent Genetics had a negative net margin of 23.04% and a negative return on equity of 3.24%. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. As a group, sell-side analysts forecast that Fulgent Genetics, Inc. will post -2.81 earnings per share for the current year.
About Fulgent Genetics
Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.
Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.
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