Intech Investment Management LLC Acquires Shares of 12,502 Fulgent Genetics, Inc. (NASDAQ:FLGT)

Intech Investment Management LLC acquired a new stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,502 shares of the company’s stock, valued at approximately $272,000.

Other institutional investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Fulgent Genetics in the third quarter valued at approximately $303,000. Gladius Capital Management LP bought a new position in shares of Fulgent Genetics in the third quarter valued at approximately $81,000. Empowered Funds LLC raised its stake in shares of Fulgent Genetics by 5.3% in the third quarter. Empowered Funds LLC now owns 90,402 shares of the company’s stock valued at $1,964,000 after acquiring an additional 4,556 shares during the last quarter. Easterly Investment Partners LLC bought a new position in shares of Fulgent Genetics in the third quarter valued at approximately $208,000. Finally, Creative Planning raised its stake in shares of Fulgent Genetics by 45.1% in the third quarter. Creative Planning now owns 25,999 shares of the company’s stock valued at $565,000 after acquiring an additional 8,075 shares during the last quarter. 48.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fulgent Genetics

In other news, CEO Ming Hsieh sold 2,227 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $18.26, for a total value of $40,665.02. Following the completion of the transaction, the chief executive officer now owns 703,711 shares of the company’s stock, valued at $12,849,762.86. The trade was a 0.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 3,413 shares of company stock worth $62,321. Insiders own 32.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FLGT. Piper Sandler cut their target price 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. StockNews.com cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

Fulgent Genetics Stock Performance

Shares of Fulgent Genetics stock opened at $20.20 on Thursday. The firm has a fifty day moving average of $19.69 and a two-hundred day moving average of $21.05. The stock has a market capitalization of $617.86 million, a price-to-earnings ratio of -3.66 and a beta of 1.42. Fulgent Genetics, Inc. has a 52 week low of $16.56 and a 52 week high of $30.68.

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.