Bank of New York Mellon Corp Sells 38,099 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Bank of New York Mellon Corp cut its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 20.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,898 shares of the company's stock after selling 38,099 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.49% of Fulgent Genetics worth $2,769,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in Fulgent Genetics by 45.5% during the 4th quarter. GAMMA Investing LLC now owns 2,133 shares of the company's stock valued at $39,000 after purchasing an additional 667 shares during the period. Point72 DIFC Ltd purchased a new stake in Fulgent Genetics during the 3rd quarter valued at approximately $46,000. R Squared Ltd bought a new stake in shares of Fulgent Genetics during the fourth quarter valued at approximately $74,000. Wealthspire Advisors LLC purchased a new position in shares of Fulgent Genetics in the fourth quarter worth $186,000. Finally, Franklin Resources Inc. bought a new position in shares of Fulgent Genetics during the third quarter worth $215,000. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

Fulgent Genetics Trading Down 0.8 %

Shares of FLGT stock traded down $0.13 on Monday, reaching $16.96. The company's stock had a trading volume of 594,088 shares, compared to its average volume of 229,945. The stock's fifty day simple moving average is $16.84 and its 200-day simple moving average is $18.81. Fulgent Genetics, Inc. has a 1 year low of $14.57 and a 1 year high of $25.11. The company has a market capitalization of $522.86 million, a price-to-earnings ratio of -3.07 and a beta of 1.54.

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Insider Buying and Selling at Fulgent Genetics

In related news, CFO Paul Kim purchased 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the acquisition, the chief financial officer now owns 348,282 shares of the company's stock, valued at approximately $5,558,580.72. This represents a 40.28 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 31.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on FLGT shares. StockNews.com upgraded shares of Fulgent Genetics from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Piper Sandler decreased their target price on Fulgent Genetics from $22.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th.

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.