PNC Financial Services Group Inc. Sells 2,046 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

PNC Financial Services Group Inc. decreased its position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 56.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,599 shares of the company’s stock after selling 2,046 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Fulgent Genetics were worth $30,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in Fulgent Genetics during the third quarter worth about $46,000. GAMMA Investing LLC grew its holdings in shares of Fulgent Genetics by 45.5% during the fourth quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock worth $39,000 after purchasing an additional 667 shares in the last quarter. R Squared Ltd bought a new position in shares of Fulgent Genetics in the fourth quarter worth approximately $74,000. Wealthspire Advisors LLC purchased a new stake in Fulgent Genetics in the fourth quarter valued at approximately $186,000. Finally, Franklin Resources Inc. bought a new stake in Fulgent Genetics during the third quarter valued at approximately $215,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FLGT. Piper Sandler reduced their target price on Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. StockNews.com upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th.

Fulgent Genetics Trading Down 0.3 %

NASDAQ:FLGT opened at $16.85 on Friday. The company has a 50-day moving average price of $16.81 and a 200-day moving average price of $18.71. The stock has a market cap of $519.47 million, a price-to-earnings ratio of -3.05 and a beta of 1.54. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $25.11.

Insiders Place Their Bets

In other news, CFO Paul Kim bought 100,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price 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 owns 348,282 shares in the company, valued at approximately $5,558,580.72. This represents a 40.28 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 31.76% of the company’s stock.

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.