Marquette Asset Management LLC bought a new position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,269 shares of the company’s stock, valued at approximately $621,000. Marquette Asset Management LLC owned 0.11% of Fulgent Genetics at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Fulgent Genetics by 2,984,354.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock valued at $39,985,000 after buying an additional 1,522,021 shares during the period. Millennium Management LLC increased its stake in Fulgent Genetics by 1.8% during the 3rd quarter. Millennium Management LLC now owns 1,468,844 shares of the company’s stock worth $33,196,000 after acquiring an additional 26,582 shares during the period. Vanguard Group Inc. increased its stake in Fulgent Genetics by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,179,254 shares of the company’s stock worth $26,651,000 after acquiring an additional 13,295 shares during the period. RTW Investments LP acquired a new position in Fulgent Genetics in the 4th quarter valued at $18,521,000. Finally, Geode Capital Management LLC raised its holdings in Fulgent Genetics by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 508,224 shares of the company’s stock valued at $13,353,000 after acquiring an additional 6,553 shares in the last quarter. 48.06% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Fulgent Genetics news, insider Hanlin Gao sold 1,688 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $30,198.32. Following the completion of the transaction, the insider owned 990,374 shares of the company’s stock, valued at $17,717,790.86. This represents a 0.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of Fulgent Genetics stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $38,391.94. Following the sale, the chief operating officer directly owned 367,605 shares in the company, valued at $6,576,453.45. The trade was a 0.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 worth $106,360 in the last 90 days. 36.18% of the stock is currently owned by corporate insiders.
Fulgent Genetics Trading Down 0.4%
Fulgent Genetics (NASDAQ:FLGT – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.12). The company had revenue of $85.39 million during the quarter, compared to analyst estimates of $94.00 million. Fulgent Genetics had a negative net margin of 26.05% and a negative return on equity of 4.93%. Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. As a group, research analysts anticipate that Fulgent Genetics, Inc. will post -2.81 earnings per share for the current year.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Fulgent Genetics in a report on Monday, July 6th. Piper Sandler boosted their price target on Fulgent Genetics from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen cut shares of Fulgent Genetics from a “sell” rating to a “strong sell” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.50.
View Our Latest Research Report on FLGT
Fulgent Genetics 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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