Vanguard Group Inc. Decreases Stake in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Vanguard Group Inc. lowered its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,391,074 shares of the company's stock after selling 57,597 shares during the period. Vanguard Group Inc. owned approximately 4.55% of Fulgent Genetics worth $25,693,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its position in Fulgent Genetics by 1.4% during the third quarter. State Street Corp now owns 793,545 shares of the company's stock valued at $17,244,000 after purchasing an additional 10,868 shares in the last quarter. Geode Capital Management LLC increased its holdings in Fulgent Genetics by 2.7% in the third quarter. Geode Capital Management LLC now owns 502,869 shares of the company's stock valued at $10,930,000 after purchasing an additional 13,320 shares during the period. JPMorgan Chase & Co. raised its position in shares of Fulgent Genetics by 113.2% during the third quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company's stock worth $7,346,000 after acquiring an additional 179,477 shares during the last quarter. Barclays PLC raised its holdings in Fulgent Genetics by 22.6% during the 3rd quarter. Barclays PLC now owns 174,855 shares of the company's stock worth $3,800,000 after purchasing an additional 32,250 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Fulgent Genetics by 803.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,957 shares of the company's stock valued at $2,326,000 after buying an additional 112,011 shares during the period. Institutional investors and hedge funds own 48.06% of the company's stock.

Fulgent Genetics Stock Performance

NASDAQ:FLGT traded down $0.46 during trading on Friday, reaching $17.86. The company's stock had a trading volume of 269,366 shares, compared to its average volume of 257,196. The firm 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 12 month low of $14.57 and a 12 month high of $25.11. The firm has a 50 day moving average of $17.11 and a 200-day moving average of $18.20.

Insider Activity at Fulgent Genetics

In related news, CFO Paul Kim acquired 100,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $15.96 per share, with a total value of $1,596,000.00. Following the completion of the transaction, the chief financial officer now owns 348,282 shares in the company, valued at approximately $5,558,580.72. The trade was a 40.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 31.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com upgraded Fulgent Genetics from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Piper Sandler dropped their target price on Fulgent Genetics from $22.00 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th.

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.