Fmr LLC Cuts Stake in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Fmr LLC cut its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 28.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,456 shares of the company’s stock after selling 953 shares during the quarter. Fmr LLC’s holdings in Fulgent Genetics were worth $53,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Caxton Associates LP purchased a new stake in shares of Fulgent Genetics in the 2nd quarter worth approximately $492,000. Divisadero Street Capital Management LP raised its stake in Fulgent Genetics by 46.4% in the second quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock worth $9,912,000 after buying an additional 160,212 shares in the last quarter. Algert Global LLC lifted its holdings in Fulgent Genetics by 46.1% during the second quarter. Algert Global LLC now owns 81,440 shares of the company’s stock worth $1,598,000 after buying an additional 25,680 shares during the period. Acadian Asset Management LLC boosted its position in Fulgent Genetics by 593.5% during the 2nd quarter. Acadian Asset Management LLC now owns 62,724 shares of the company’s stock valued at $1,227,000 after acquiring an additional 53,680 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Fulgent Genetics by 34.3% during the 2nd quarter. Millennium Management LLC now owns 958,852 shares of the company’s stock valued at $18,813,000 after acquiring an additional 244,981 shares in the last quarter. 48.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FLGT has been the subject of several recent research reports. StockNews.com lowered Fulgent Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. Piper Sandler reduced their target price on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, November 11th.

Insider Buying and Selling

In related news, CEO Ming Hsieh sold 2,227 shares of Fulgent Genetics stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 703,711 shares in the company, valued at $12,849,762.86. This trade represents a 0.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 3,413 shares of company stock worth $62,321 in the last ninety days. 32.66% of the stock is owned by insiders.

Fulgent Genetics Stock Down 0.4 %

NASDAQ:FLGT opened at $18.51 on Wednesday. The firm has a 50 day moving average of $19.41 and a 200 day moving average of $20.90. Fulgent Genetics, Inc. has a 52 week low of $16.56 and a 52 week high of $30.60. The stock has a market capitalization of $566.17 million, a price-to-earnings ratio of -3.35 and a beta of 1.42.

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.