Point72 Asset Management L.P. Takes $5.85 Million Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Point72 Asset Management L.P. purchased a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 269,375 shares of the company's stock, valued at approximately $5,854,000. Point72 Asset Management L.P. owned 0.88% of Fulgent Genetics as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings in shares of Fulgent Genetics by 34.3% during the 2nd quarter. Millennium Management LLC now owns 958,852 shares of the company's stock valued at $18,813,000 after buying an additional 244,981 shares during the period. Divisadero Street Capital Management LP boosted its position in Fulgent Genetics by 46.4% in the second quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company's stock worth $9,912,000 after purchasing an additional 160,212 shares during the last quarter. Invenomic Capital Management LP grew its stake in shares of Fulgent Genetics by 98.9% during the 3rd quarter. Invenomic Capital Management LP now owns 249,747 shares of the company's stock valued at $5,427,000 after purchasing an additional 124,185 shares during the period. Bank of New York Mellon Corp increased its position in shares of Fulgent Genetics by 37.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company's stock valued at $3,948,000 after purchasing an additional 55,020 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Fulgent Genetics by 593.5% in the 2nd quarter. Acadian Asset Management LLC now owns 62,724 shares of the company's stock worth $1,227,000 after purchasing an additional 53,680 shares during the period. 48.06% of the stock is owned by hedge funds and other institutional investors.

Fulgent Genetics Trading Up 5.2 %

Shares of NASDAQ:FLGT traded up $1.04 during mid-day trading on Monday, reaching $21.13. 208,137 shares of the company traded hands, compared to its average volume of 188,582. The company's 50 day moving average price is $19.65 and its 200-day moving average price is $21.02. Fulgent Genetics, Inc. has a 52 week low of $16.56 and a 52 week high of $30.68.

Insiders Place Their Bets

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.26, for a total value of $40,665.02. Following the completion of the transaction, the chief executive officer now directly owns 703,711 shares in the company, valued at $12,849,762.86. This represents a 0.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 3,413 shares of company stock worth $62,321 over the last three months. 32.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FLGT has been the subject of a number of research reports. StockNews.com cut shares of Fulgent Genetics from a "hold" rating to a "sell" rating in a report on Wednesday, November 27th. Piper Sandler decreased their target price on Fulgent Genetics from $26.00 to $22.00 and set a "neutral" rating on the stock in a report on Monday, November 11th.

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.