Fulgent Genetics, Inc. (NASDAQ:FLGT) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 803.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 125,957 shares of the company’s stock after purchasing an additional 112,011 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.41% of Fulgent Genetics worth $2,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in FLGT. Point72 Asset Management L.P. bought a new stake in shares of Fulgent Genetics during the third quarter valued at approximately $5,854,000. JPMorgan Chase & Co. raised its stake in Fulgent Genetics by 113.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock valued at $7,346,000 after acquiring an additional 179,477 shares in the last quarter. Invenomic Capital Management LP boosted its position in Fulgent Genetics by 98.9% during the 3rd 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 period. Peapod Lane Capital LLC bought a new position in shares of Fulgent Genetics in the fourth quarter worth $2,022,000. Finally, Barclays PLC grew its stake in shares of Fulgent Genetics by 22.6% in the third quarter. Barclays PLC now owns 174,855 shares of the company’s stock worth $3,800,000 after purchasing an additional 32,250 shares in the last quarter. Institutional investors own 48.06% of the company’s stock.

Insider Buying and Selling at Fulgent Genetics

In other news, CFO Paul Kim bought 100,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $15.96 per share, with a total value of $1,596,000.00. Following the completion of the purchase, the chief financial officer now owns 348,282 shares of the company’s stock, valued at approximately $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 SEC, which is available at the SEC website. Insiders own 31.76% of the company’s stock.

Wall Street Analyst Weigh In

FLGT has been the topic of a number of research reports. Piper Sandler dropped their target price on shares of Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating on the stock in a 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.

Fulgent Genetics Stock Down 1.4 %

NASDAQ:FLGT opened at $17.13 on Wednesday. Fulgent Genetics, Inc. has a 12-month low of $14.57 and a 12-month high of $25.11. The stock’s fifty day simple moving average is $16.95 and its 200-day simple moving average is $18.91. The firm has a market capitalization of $528.10 million, a P/E ratio of -3.10 and a beta of 1.54.

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.