Proficio Capital Partners LLC Acquires Shares of 22,238 Fulgent Genetics, Inc. (NASDAQ:FLGT)

Proficio Capital Partners LLC purchased a new stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 22,238 shares of the company's stock, valued at approximately $411,000. Proficio Capital Partners LLC owned about 0.07% of Fulgent Genetics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLGT. Empowered Funds LLC grew its holdings in 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 purchasing an additional 4,556 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Fulgent Genetics in the third quarter worth $81,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Fulgent Genetics in the third quarter worth $303,000. Intech Investment Management LLC bought a new position in Fulgent Genetics in the third quarter worth $272,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Fulgent Genetics in the third quarter worth $286,000. Institutional investors and hedge funds own 48.06% of the company's stock.

Fulgent Genetics Stock Performance

Shares of NASDAQ FLGT traded up $0.26 during midday trading on Friday, reaching $17.24. 432,401 shares of the company traded hands, compared to its average volume of 210,832. The firm has a market cap of $531.49 million, a PE ratio of -3.12 and a beta of 1.54. The stock's 50-day simple moving average is $17.04 and its 200-day simple moving average is $19.09. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $25.11.

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Analyst Ratings Changes

Several research analysts recently commented on the company. Piper Sandler reduced their target price 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. StockNews.com raised Fulgent Genetics from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th.

Insider Activity at Fulgent Genetics

In other Fulgent Genetics news, CFO Paul Kim purchased 100,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $15.96 per share, with a total value 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. This represents a 40.28 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 31.76% of the stock is currently owned by company insiders.

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.