Fulgent Genetics, Inc. (NASDAQ:FLGT) CFO Purchases $1,596,000.00 in Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) CFO Paul Kim purchased 100,000 shares of Fulgent Genetics stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the transaction, the chief financial officer now owns 348,282 shares in the company, valued at approximately $5,558,580.72. This trade represents a 40.28 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Fulgent Genetics Stock Up 3.9 %

Shares of NASDAQ FLGT opened at $18.59 on Friday. The firm has a market cap of $568.61 million, a price-to-earnings ratio of -3.37 and a beta of 1.39. Fulgent Genetics, Inc. has a 52-week low of $14.57 and a 52-week high of $25.11. The business’s 50 day moving average is $17.14 and its two-hundred day moving average is $19.26.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FLGT shares. Piper Sandler reduced their price target on shares of Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday. StockNews.com raised Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Wednesday.

Institutional Trading of Fulgent Genetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Fulgent Genetics by 113.2% in the third quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock valued at $7,346,000 after purchasing an additional 179,477 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Fulgent Genetics by 220.9% in the third quarter. BNP Paribas Financial Markets now owns 43,813 shares of the company’s stock worth $952,000 after acquiring an additional 30,160 shares in the last quarter. State Street Corp grew its stake in shares of Fulgent Genetics by 1.4% in the third quarter. State Street Corp now owns 793,545 shares of the company’s stock worth $17,244,000 after acquiring an additional 10,868 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Fulgent Genetics in the third quarter worth $215,000. Finally, Geode Capital Management LLC grew its stake in shares of Fulgent Genetics by 2.7% in the third quarter. Geode Capital Management LLC now owns 502,869 shares of the company’s stock worth $10,930,000 after acquiring an additional 13,320 shares in the last quarter. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Company 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.