Fulgent Genetics, Inc. (NASDAQ:FLGT) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 39.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 471,259 shares of the company's stock after purchasing an additional 133,215 shares during the quarter. JPMorgan Chase & Co. owned about 1.54% of Fulgent Genetics worth $8,704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FLGT. EntryPoint Capital LLC grew its position in shares of Fulgent Genetics by 85.2% in the fourth quarter. EntryPoint Capital LLC now owns 20,771 shares of the company's stock valued at $384,000 after purchasing an additional 9,556 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Fulgent Genetics in the 4th quarter worth $57,000. American Century Companies Inc. raised its holdings in shares of Fulgent Genetics by 10.3% during the 4th quarter. American Century Companies Inc. now owns 45,645 shares of the company's stock worth $843,000 after acquiring an additional 4,262 shares during the period. Quantbot Technologies LP boosted its position in shares of Fulgent Genetics by 131.9% during the 4th quarter. Quantbot Technologies LP now owns 10,420 shares of the company's stock valued at $192,000 after acquiring an additional 5,926 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Fulgent Genetics in the fourth quarter valued at about $314,000. Hedge funds and other institutional investors own 48.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on FLGT. Piper Sandler reduced their target price on shares of 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 shares of Fulgent Genetics from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th.

Insiders Place Their Bets

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

Fulgent Genetics Price Performance

Shares of NASDAQ:FLGT traded down $0.46 during midday trading on Friday, reaching $17.86. 269,366 shares of the company's stock were exchanged, compared to its average volume of 257,196. The stock has a market cap of $551.27 million, a price-to-earnings ratio of -3.24 and a beta of 1.36. Fulgent Genetics, Inc. has a fifty-two week low of $14.57 and a fifty-two week high of $25.11. The firm's 50 day simple moving average is $17.11 and its two-hundred day simple moving average is $18.18.

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.