AlphaQuest LLC Increases Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

AlphaQuest LLC lifted its position in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 314.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,692 shares of the company’s stock after purchasing an additional 27,085 shares during the period. AlphaQuest LLC’s holdings in Fulgent Genetics were worth $659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLGT. Point72 Asset Management L.P. purchased a new stake in shares of Fulgent Genetics in the third quarter worth $5,854,000. JPMorgan Chase & Co. boosted 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. Invenomic Capital Management LP boosted its position in shares of Fulgent Genetics by 98.9% during the third quarter. Invenomic Capital Management LP now owns 249,747 shares of the company’s stock worth $5,427,000 after acquiring an additional 124,185 shares during the last quarter. Peapod Lane Capital LLC bought a new position in shares of Fulgent Genetics during the fourth quarter worth $2,022,000. Finally, Barclays PLC boosted its position in shares of Fulgent Genetics by 22.6% during the third quarter. Barclays PLC now owns 174,855 shares of the company’s stock worth $3,800,000 after acquiring an additional 32,250 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, CFO Paul Kim acquired 100,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the transaction, the chief financial officer now directly owns 348,282 shares of the company’s stock, valued at $5,558,580.72. This trade represents a 40.28 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.76% of the stock is owned by company insiders.

Fulgent Genetics Stock Up 3.4 %

FLGT stock opened at $17.45 on Wednesday. Fulgent Genetics, Inc. has a 52 week low of $14.57 and a 52 week high of $25.11. The company has a fifty day simple moving average of $17.09 and a two-hundred day simple moving average of $19.11. The firm has a market capitalization of $537.97 million, a P/E ratio of -3.16 and a beta of 1.54.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FLGT. Piper Sandler dropped their target price on shares of 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 upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th.

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.