Empowered Funds LLC Buys 4,609 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Empowered Funds LLC raised its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,011 shares of the company’s stock after purchasing an additional 4,609 shares during the period. Empowered Funds LLC owned 0.31% of Fulgent Genetics worth $1,755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FLGT. JPMorgan Chase & Co. lifted its holdings in shares of Fulgent Genetics by 113.2% in 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 during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Fulgent Genetics by 220.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 43,813 shares of the company’s stock valued at $952,000 after acquiring an additional 30,160 shares during the last quarter. State Street Corp lifted its holdings in shares of Fulgent Genetics by 1.4% in the 3rd quarter. State Street Corp now owns 793,545 shares of the company’s stock valued at $17,244,000 after acquiring an additional 10,868 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Fulgent Genetics in the 3rd quarter valued at about $215,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Fulgent Genetics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 502,869 shares of the company’s stock valued at $10,930,000 after acquiring an additional 13,320 shares during the last quarter. Institutional investors own 48.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Piper Sandler decreased their price objective on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, November 11th.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now directly owns 703,711 shares of the company’s stock, valued at approximately $12,849,762.86. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 3,413 shares of company stock valued at $62,321 over the last 90 days. Insiders own 31.76% of the company’s stock.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT opened at $16.90 on Friday. The company has a market cap of $516.97 million, a P/E ratio of -3.06 and a beta of 1.39. Fulgent Genetics, Inc. has a 1 year low of $15.99 and a 1 year high of $26.36. The firm has a 50-day simple moving average of $17.94 and a two-hundred day simple moving average of $19.99.

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.