Principal Financial Group Inc. Sells 6,020 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Principal Financial Group Inc. lowered its position in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 94,311 shares of the company’s stock after selling 6,020 shares during the quarter. Principal Financial Group Inc. owned about 0.32% of Fulgent Genetics worth $2,049,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Dedication LLC bought a new stake in shares of Fulgent Genetics during the 2nd quarter valued at about $33,000. nVerses Capital LLC purchased a new position in Fulgent Genetics in the 2nd quarter worth approximately $43,000. Signaturefd LLC increased its holdings in shares of Fulgent Genetics by 103.6% in the 2nd quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock worth $44,000 after buying an additional 1,132 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Fulgent Genetics in the 2nd quarter worth $63,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Fulgent Genetics during the 1st quarter valued at $178,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Stock Up 5.4 %

Shares of NASDAQ FLGT opened at $17.87 on Friday. The company has a market cap of $546.59 million, a price-to-earnings ratio of -3.24 and a beta of 1.51. The firm’s fifty day moving average is $20.22 and its 200 day moving average is $21.23. Fulgent Genetics, Inc. has a 52 week low of $16.56 and a 52 week high of $30.68.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FLGT. StockNews.com upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Tuesday. Piper Sandler cut their target price on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, November 11th.

Insider Activity

In related news, CEO Ming Hsieh sold 2,313 shares of Fulgent Genetics stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $22.83, for a total value of $52,805.79. Following the sale, the chief executive officer now owns 707,275 shares in the company, valued at $16,147,088.25. The trade was a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 4,324 shares of company stock valued at $98,717. Insiders own 31.76% of the company’s stock.

Fulgent Genetics 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.