AlphaQuest LLC Acquires 27,085 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

AlphaQuest LLC increased its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 314.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,692 shares of the company’s stock after acquiring an additional 27,085 shares during the period. AlphaQuest LLC owned approximately 0.12% of Fulgent Genetics worth $659,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in Fulgent Genetics during the third quarter worth about $46,000. GAMMA Investing LLC lifted its stake in shares of Fulgent Genetics by 45.5% in the fourth quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock worth $39,000 after buying an additional 667 shares in the last quarter. Gladius Capital Management LP bought a new position in shares of Fulgent Genetics in the third quarter worth approximately $81,000. R Squared Ltd bought a new position in shares of Fulgent Genetics in the fourth quarter worth approximately $74,000. Finally, Amundi lifted its stake in shares of Fulgent Genetics by 143.7% in the fourth quarter. Amundi now owns 8,816 shares of the company’s stock worth $166,000 after buying an additional 5,199 shares in the last quarter. Institutional investors own 48.06% of the company’s stock.

Insider Activity

In related news, CFO Paul Kim acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $15.96 per share, with a total value of $1,596,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 348,282 shares of the company’s stock, valued at approximately $5,558,580.72. This trade represents a 40.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 31.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FLGT has been the topic of several analyst reports. Piper Sandler dropped their target price on shares of Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. StockNews.com upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th.

Fulgent Genetics Stock Up 3.4 %

FLGT opened at $17.45 on Wednesday. The firm has a 50 day moving average price of $17.09 and a 200-day moving average price of $19.11. Fulgent Genetics, Inc. has a twelve month low of $14.57 and a twelve month high of $25.11. The stock has a market capitalization of $537.97 million, a price-to-earnings ratio of -3.16 and a beta of 1.54.

Fulgent Genetics 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.