Connor Clark & Lunn Investment Management Ltd. Purchases 112,011 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 803.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,957 shares of the company's stock after acquiring an additional 112,011 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.41% of Fulgent Genetics worth $2,326,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in FLGT. Empowered Funds LLC lifted its stake in shares of Fulgent Genetics by 5.3% during the third quarter. Empowered Funds LLC now owns 90,402 shares of the company's stock valued at $1,964,000 after acquiring an additional 4,556 shares during the period. Intech Investment Management LLC acquired a new position in Fulgent Genetics in the third quarter valued at about $272,000. Dynamic Technology Lab Private Ltd acquired a new position in Fulgent Genetics in the third quarter valued at about $286,000. BNP Paribas Financial Markets lifted its stake in Fulgent Genetics by 220.9% in the third quarter. BNP Paribas Financial Markets now owns 43,813 shares of the company's stock valued at $952,000 after buying an additional 30,160 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Fulgent Genetics by 15.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,668 shares of the company's stock valued at $971,000 after buying an additional 5,898 shares during the period. Institutional investors and hedge funds own 48.06% of the company's stock.

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Insiders Place Their Bets

In other Fulgent Genetics news, CFO Paul Kim purchased 100,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the acquisition, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 31.76% of the company's stock.

Wall Street Analyst Weigh In

FLGT has been the topic of several analyst reports. Piper Sandler cut their target price on Fulgent Genetics from $22.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. StockNews.com raised Fulgent Genetics from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock traded up $0.20 during trading hours on Friday, hitting $17.09. The company's stock had a trading volume of 4,511,527 shares, compared to its average volume of 228,326. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $25.11. The stock has a 50 day moving average of $16.84 and a 200 day moving average of $18.84. The company has a market capitalization of $526.87 million, a PE ratio of -3.10 and a beta of 1.54.

Fulgent Genetics Company Profile

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.