Charles Schwab Investment Management Inc. Reduces Stock Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Charles Schwab Investment Management Inc. lessened its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,211 shares of the company's stock after selling 34,977 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.69% of Fulgent Genetics worth $3,883,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FLGT. GAMMA Investing LLC lifted 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 acquiring an additional 667 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Fulgent Genetics in the third quarter valued at about $46,000. R Squared Ltd bought a new position in shares of Fulgent Genetics during the fourth quarter valued at about $74,000. Wealthspire Advisors LLC purchased a new position in Fulgent Genetics during the fourth quarter worth about $186,000. Finally, Franklin Resources Inc. bought a new stake in Fulgent Genetics in the 3rd quarter worth about $215,000. Hedge funds and other institutional investors own 48.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FLGT shares. StockNews.com raised shares of Fulgent Genetics from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. Piper Sandler decreased their price target on Fulgent Genetics from $22.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th.

Remove Ads

Insider Transactions at Fulgent Genetics

In other news, CFO Paul Kim purchased 100,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the purchase, the chief financial officer now owns 348,282 shares of the company's stock, valued at $5,558,580.72. The trade was a 40.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 31.76% of the stock is currently owned by company insiders.

Fulgent Genetics Trading Up 1.2 %

Shares of NASDAQ:FLGT traded up $0.20 during midday trading on Friday, reaching $17.05. The company had a trading volume of 526,520 shares, compared to its average volume of 243,872. The stock has a market cap of $526.27 million, a P/E ratio of -3.09 and a beta of 1.54. The company's 50 day moving average price is $16.81 and its 200 day moving average price is $18.64. Fulgent Genetics, Inc. has a 52-week low of $14.57 and a 52-week high of $25.11.

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.