Proficio Capital Partners LLC Purchases New Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Proficio Capital Partners LLC purchased a new stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 22,238 shares of the company’s stock, valued at approximately $411,000. Proficio Capital Partners LLC owned approximately 0.07% of Fulgent Genetics as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in shares of Fulgent Genetics in the 3rd quarter valued at about $46,000. GAMMA Investing LLC increased its stake in Fulgent Genetics by 45.5% during the 4th quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock worth $39,000 after buying an additional 667 shares in the last quarter. Gladius Capital Management LP purchased a new stake in Fulgent Genetics during the 3rd quarter worth approximately $81,000. R Squared Ltd purchased a new stake in Fulgent Genetics during the 4th quarter worth approximately $74,000. Finally, Wealthspire Advisors LLC purchased a new stake in Fulgent Genetics during the 4th quarter worth approximately $186,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Stock Performance

FLGT opened at $16.88 on Tuesday. Fulgent Genetics, Inc. has a one year low of $14.57 and a one year high of $25.11. The stock has a market capitalization of $520.39 million, a PE ratio of -3.06 and a beta of 1.54. The business’s 50 day moving average price is $17.11 and its 200 day moving average price is $19.16.

Insider Activity at Fulgent Genetics

In other news, CFO Paul Kim purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the purchase, the chief financial officer now directly 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 Securities & Exchange Commission, which is available at this link. 31.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. StockNews.com upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Piper Sandler cut their price objective on Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th.

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.