Acadian Asset Management LLC Acquires 53,680 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Acadian Asset Management LLC boosted its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 593.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,724 shares of the company’s stock after acquiring an additional 53,680 shares during the quarter. Acadian Asset Management LLC owned approximately 0.21% of Fulgent Genetics worth $1,227,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLGT. Asset Dedication LLC bought a new position in Fulgent Genetics during the second quarter valued at approximately $33,000. nVerses Capital LLC bought a new position in Fulgent Genetics during the second quarter valued at approximately $43,000. Signaturefd LLC raised its position in Fulgent Genetics by 103.6% during the second quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock valued at $44,000 after acquiring an additional 1,132 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Fulgent Genetics in the first quarter valued at approximately $178,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Fulgent Genetics in the first quarter worth $213,000. Institutional investors own 48.06% of the company’s stock.

Insider Activity at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,313 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $22.83, for a total transaction of $52,805.79. Following the completion of the transaction, the chief executive officer now directly owns 707,275 shares in the company, valued at approximately $16,147,088.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 4,324 shares of company stock worth $98,717 in the last ninety days. 31.76% of the stock is currently owned by insiders.

Fulgent Genetics Trading Up 1.5 %

Shares of Fulgent Genetics stock opened at $22.35 on Monday. The firm has a fifty day simple moving average of $22.67 and a 200-day simple moving average of $21.71. Fulgent Genetics, Inc. has a 1-year low of $18.91 and a 1-year high of $30.68. The stock has a market capitalization of $677.21 million, a price-to-earnings ratio of -4.01 and a beta of 1.50.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.45. Fulgent Genetics had a negative net margin of 56.22% and a negative return on equity of 2.75%. The business had revenue of $71.03 million during the quarter, compared to analysts’ expectations of $69.07 million. During the same period in the previous year, the company earned ($0.33) earnings per share. Fulgent Genetics’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts predict that Fulgent Genetics, Inc. will post -1.46 earnings per share for the current year.

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.