Point72 Asset Management L.P. Purchases New Shares in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Point72 Asset Management L.P. acquired a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 269,375 shares of the company’s stock, valued at approximately $5,854,000. Point72 Asset Management L.P. owned approximately 0.88% of Fulgent Genetics at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake 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 in the last quarter. Signaturefd LLC increased its holdings in Fulgent Genetics by 103.6% during the 2nd quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock worth $44,000 after purchasing an additional 1,132 shares during the last quarter. Marquette Asset Management LLC raised its position 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 in the last quarter. Asset Dedication LLC purchased a new position in shares of Fulgent Genetics during the 2nd quarter valued at approximately $33,000. Finally, Centiva Capital LP increased its stake in shares of Fulgent Genetics by 16.5% in the third quarter. Centiva Capital LP now owns 12,538 shares of the company’s stock worth $272,000 after buying an additional 1,774 shares during the last quarter. 48.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of Fulgent Genetics 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. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 3,413 shares of company stock worth $62,321 over the last 90 days. Insiders own 31.76% of the company’s stock.

Analysts Set New Price Targets

FLGT has been the topic of a number of research analyst reports. Piper Sandler reduced their price objective on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. StockNews.com cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

Fulgent Genetics Trading Up 2.0 %

Shares of NASDAQ FLGT opened at $20.09 on Monday. The company has a market capitalization of $614.49 million, a price-to-earnings ratio of -3.64 and a beta of 1.42. Fulgent Genetics, Inc. has a twelve month low of $16.56 and a twelve month high of $30.68. The business has a 50 day simple moving average of $19.65 and a 200-day simple moving average of $21.02.

Fulgent Genetics Company 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.