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

JPMorgan Chase & Co. increased its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 113.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 338,044 shares of the company's stock after purchasing an additional 179,477 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.11% of Fulgent Genetics worth $7,346,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of Fulgent Genetics by 0.9% in the second quarter. Rhumbline Advisers now owns 68,210 shares of the company's stock worth $1,338,000 after acquiring an additional 637 shares during the last quarter. Marquette Asset Management LLC boosted its holdings in shares of Fulgent Genetics by 13.7% in the 3rd quarter. Marquette Asset Management LLC now owns 9,908 shares of the company's stock valued at $215,000 after purchasing an additional 1,191 shares during the last quarter. Centiva Capital LP grew its stake in shares of Fulgent Genetics by 16.5% during the 3rd quarter. Centiva Capital LP now owns 12,538 shares of the company's stock valued at $272,000 after buying an additional 1,774 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Fulgent Genetics during the 3rd quarter worth $46,000. Finally, Public Sector Pension Investment Board raised its position in shares of Fulgent Genetics by 7.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 44,772 shares of the company's stock worth $878,000 after buying an additional 2,956 shares during the period. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ming Hsieh sold 2,227 shares of Fulgent Genetics stock in a transaction on Monday, November 25th. The shares were sold at an average price of $18.26, for a total transaction of $40,665.02. Following the sale, the chief executive officer now owns 703,711 shares of the company's stock, valued at $12,849,762.86. The trade was a 0.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 3,413 shares of company stock worth $62,321. 31.76% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on FLGT. StockNews.com lowered Fulgent Genetics from a "hold" rating to a "sell" rating in a research note on Wednesday, November 27th. Piper Sandler cut their price target on shares of Fulgent Genetics from $26.00 to $22.00 and set a "neutral" rating on the stock in a report on Monday, November 11th.

Fulgent Genetics Price Performance

NASDAQ FLGT traded down $0.22 during trading hours on Wednesday, hitting $16.91. The company had a trading volume of 239,762 shares, compared to its average volume of 200,340. The firm's 50 day moving average is $18.85 and its 200 day moving average is $20.73. The company has a market capitalization of $517.23 million, a price-to-earnings ratio of -3.06 and a beta of 1.40. Fulgent Genetics, Inc. has a fifty-two week low of $16.56 and a fifty-two week high of $27.56.

Fulgent Genetics 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.