Fulgent Genetics, Inc. (NASDAQ:FLGT) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its position in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 245,188 shares of the company’s stock after selling 24,068 shares during the period. Charles Schwab Investment Management Inc. owned 0.81% of Fulgent Genetics worth $5,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in FLGT. Asset Dedication LLC acquired a new stake in shares of Fulgent Genetics in the second quarter valued at about $33,000. nVerses Capital LLC acquired a new stake in shares of Fulgent Genetics during the second quarter valued at about $43,000. Signaturefd LLC lifted its stake in Fulgent Genetics by 103.6% during the second quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock worth $44,000 after purchasing an additional 1,132 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Fulgent Genetics in the second quarter valued at $63,000. Finally, Gladius Capital Management LP purchased a new position in Fulgent Genetics in the third quarter worth approximately $81,000. 48.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FLGT shares. Piper Sandler reduced 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 cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

Fulgent Genetics Stock Up 0.5 %

FLGT opened at $20.24 on Friday. Fulgent Genetics, Inc. has a fifty-two week low of $16.56 and a fifty-two week high of $30.68. The company’s 50-day moving average price is $19.59 and its 200 day moving average price is $21.01. The firm has a market cap of $619.08 million, a price-to-earnings ratio of -3.67 and a beta of 1.42.

Insider Transactions at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,227 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $18.26, for a total transaction of $40,665.02. Following the completion of the sale, the chief executive officer now directly owns 703,711 shares in the company, valued at approximately $12,849,762.86. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 3,413 shares of company stock valued at $62,321 in the last quarter. Insiders own 31.76% of the company’s stock.

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.