Principal Financial Group Inc. Cuts Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Principal Financial Group Inc. lowered its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,311 shares of the company’s stock after selling 6,020 shares during the period. Principal Financial Group Inc. owned about 0.31% of Fulgent Genetics worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLGT. Caxton Associates LP purchased a new stake in shares of Fulgent Genetics during the 2nd quarter worth approximately $492,000. BNP Paribas Financial Markets boosted its position in Fulgent Genetics by 220.9% during the third quarter. BNP Paribas Financial Markets now owns 43,813 shares of the company’s stock worth $952,000 after purchasing an additional 30,160 shares in the last quarter. Divisadero Street Capital Management LP grew its holdings 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 valued at $9,912,000 after purchasing an additional 160,212 shares during the last quarter. Algert Global LLC increased its position in shares of Fulgent Genetics by 46.1% in the second quarter. Algert Global LLC now owns 81,440 shares of the company’s stock valued at $1,598,000 after buying an additional 25,680 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Fulgent Genetics by 593.5% during the 2nd quarter. Acadian Asset Management LLC now owns 62,724 shares of the company’s stock worth $1,227,000 after buying an additional 53,680 shares during the last quarter. 48.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FLGT shares. Piper Sandler dropped 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. StockNews.com cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

Insider Activity

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of the 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 owns 703,711 shares of the company’s stock, valued at $12,849,762.86. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 3,413 shares of company stock valued at $62,321 in the last three months. Corporate insiders own 31.76% of the company’s stock.

Fulgent Genetics Stock Up 1.8 %

Shares of Fulgent Genetics stock opened at $18.76 on Friday. Fulgent Genetics, Inc. has a fifty-two week low of $16.56 and a fifty-two week high of $29.30. The business’s fifty day moving average is $19.21 and its two-hundred day moving average is $20.81. The firm has a market cap of $573.81 million, a PE ratio of -3.40 and a beta of 1.40.

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.