Gladius Capital Management LP Buys New Shares in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Gladius Capital Management LP purchased a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,746 shares of the company’s stock, valued at approximately $81,000.

Other hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in shares of Fulgent Genetics by 5.3% in the third quarter. Empowered Funds LLC now owns 90,402 shares of the company’s stock worth $1,964,000 after buying an additional 4,556 shares during the period. Easterly Investment Partners LLC bought a new stake in Fulgent Genetics in the third quarter valued at approximately $208,000. Creative Planning lifted its position in Fulgent Genetics by 45.1% in the third quarter. Creative Planning now owns 25,999 shares of the company’s stock valued at $565,000 after purchasing an additional 8,075 shares during the last quarter. Marquette Asset Management LLC grew its holdings in shares of Fulgent Genetics by 13.7% in the third quarter. Marquette Asset Management LLC now owns 9,908 shares of the company’s stock worth $215,000 after purchasing an additional 1,191 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Fulgent Genetics by 36.1% in the third quarter. SG Americas Securities LLC now owns 17,452 shares of the company’s stock worth $379,000 after buying an additional 4,626 shares during the period. 48.06% of the stock is owned by institutional investors.

Fulgent Genetics Stock Performance

FLGT opened at $17.31 on Friday. The stock’s 50 day moving average price is $20.68 and its 200-day moving average price is $21.38. Fulgent Genetics, Inc. has a 52-week low of $17.31 and a 52-week high of $30.68. The stock has a market capitalization of $529.51 million, a PE ratio of -3.14 and a beta of 1.51.

Insiders Place Their Bets

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,313 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $22.83, for a total transaction of $52,805.79. Following the sale, the chief executive officer now directly owns 707,275 shares of the company’s stock, valued at approximately $16,147,088.25. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 4,324 shares of company stock worth $98,717. 31.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Piper Sandler dropped their price target on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. StockNews.com lowered shares of Fulgent Genetics from a “hold” rating to a “sell” rating 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.