Y Intercept Hong Kong Ltd purchased a new stake in Fulgent Genetics, Inc. (NASDAQ:FLGT – Free Report) in the first quarter, Holdings Channel.com reports. The fund purchased 67,697 shares of the company’s stock, valued at approximately $1,076,000.
Several other large investors have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in Fulgent Genetics by 2,984,354.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock worth $39,985,000 after acquiring an additional 1,522,021 shares during the last quarter. RTW Investments LP purchased a new position in Fulgent Genetics during the fourth quarter worth about $18,521,000. JPMorgan Chase & Co. boosted its holdings in Fulgent Genetics by 767.0% during the third quarter. JPMorgan Chase & Co. now owns 299,014 shares of the company’s stock worth $6,758,000 after purchasing an additional 264,524 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Fulgent Genetics by 89.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 348,533 shares of the company’s stock worth $9,156,000 after purchasing an additional 164,535 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Fulgent Genetics by 261.1% in the 4th quarter. Wells Fargo & Company MN now owns 120,781 shares of the company’s stock valued at $3,173,000 after buying an additional 87,329 shares during the last quarter. 48.06% of the stock is currently owned by institutional investors.
Fulgent Genetics Stock Down 1.6%
NASDAQ FLGT traded down $0.33 during trading hours on Friday, reaching $20.55. 211,591 shares of the company were exchanged, compared to its average volume of 261,862. Fulgent Genetics, Inc. has a 1 year low of $13.46 and a 1 year high of $31.04. The business’s 50 day simple moving average is $18.13 and its 200-day simple moving average is $19.98. The stock has a market capitalization of $583.62 million, a P/E ratio of -8.60 and a beta of 0.89.
Analysts Set New Price Targets
Read Our Latest Analysis on Fulgent Genetics
Insider Buying and Selling
In other news, COO Jian Xie sold 2,146 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $38,391.94. Following the completion of the sale, the chief operating officer owned 367,605 shares in the company, valued at $6,576,453.45. This trade represents a 0.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hanlin Gao sold 1,688 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $30,198.32. Following the sale, the insider owned 990,374 shares of the company’s stock, valued at approximately $17,717,790.86. The trade was a 0.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 5,980 shares of company stock valued at $106,360 over the last three months. Insiders own 36.18% of the company’s stock.
Fulgent Genetics Company Profile
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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