Marquette Asset Management LLC Grows Stake in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Marquette Asset Management LLC boosted its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 59.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,777 shares of the company’s stock after buying an additional 5,869 shares during the quarter. Marquette Asset Management LLC owned approximately 0.05% of Fulgent Genetics worth $291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new stake in shares of Fulgent Genetics during the third quarter worth $5,854,000. Millennium Management LLC grew its stake 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. JPMorgan Chase & Co. raised its holdings in Fulgent Genetics by 113.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock valued at $7,346,000 after acquiring an additional 179,477 shares during the last quarter. Divisadero Street Capital Management LP raised its holdings in Fulgent Genetics by 46.4% in the 2nd quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock valued at $9,912,000 after acquiring an additional 160,212 shares during the last quarter. Finally, Invenomic Capital Management LP lifted its stake in Fulgent Genetics by 98.9% in the 3rd quarter. Invenomic Capital Management LP now owns 249,747 shares of the company’s stock worth $5,427,000 after purchasing an additional 124,185 shares in the last quarter. 48.06% of the stock is owned by hedge funds and other institutional investors.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT opened at $17.13 on Wednesday. The company has a market capitalization of $523.96 million, a P/E ratio of -3.10 and a beta of 1.40. The company has a 50 day simple moving average of $18.85 and a 200-day simple moving average of $20.73. Fulgent Genetics, Inc. has a 1 year low of $16.56 and a 1 year high of $27.56.

Analysts Set New Price Targets

A number of research firms have weighed in on FLGT. Piper Sandler lowered their price objective on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock 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.

Insider Buying and Selling

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of Fulgent Genetics stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.26, for a total value of $40,665.02. Following the sale, the chief executive officer now owns 703,711 shares in the company, valued at $12,849,762.86. The trade was a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 3,413 shares of company stock worth $62,321. Company insiders own 31.76% of the company’s stock.

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.