Park West Asset Management LLC Reduces Stake in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Park West Asset Management LLC lowered its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 10.1% in the 4th quarter, HoldingsChannel reports. The fund owned 641,682 shares of the company’s stock after selling 71,902 shares during the period. Park West Asset Management LLC’s holdings in Fulgent Genetics were worth $11,852,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FLGT. JPMorgan Chase & Co. boosted its holdings in Fulgent Genetics by 113.2% during 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 period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Fulgent Genetics by 803.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,957 shares of the company’s stock worth $2,326,000 after purchasing an additional 112,011 shares during the period. Peapod Lane Capital LLC purchased a new stake in Fulgent Genetics in the fourth quarter worth $2,022,000. Trexquant Investment LP increased its stake in Fulgent Genetics by 47.0% in the fourth quarter. Trexquant Investment LP now owns 128,606 shares of the company’s stock worth $2,375,000 after purchasing an additional 41,147 shares during the period. Finally, ExodusPoint Capital Management LP increased its stake in Fulgent Genetics by 75.3% in the fourth quarter. ExodusPoint Capital Management LP now owns 92,197 shares of the company’s stock worth $1,703,000 after purchasing an additional 39,618 shares during the period. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Piper Sandler reduced their target price on 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 Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th.

Fulgent Genetics Price Performance

FLGT stock opened at $18.53 on Tuesday. The business has a 50-day moving average price of $17.32 and a 200 day moving average price of $18.12. The company has a market capitalization of $571.95 million, a P/E ratio of -3.36 and a beta of 1.36. Fulgent Genetics, Inc. has a 1-year low of $14.57 and a 1-year high of $25.11.

Insider Activity at Fulgent Genetics

In other news, CFO Paul Kim bought 100,000 shares of Fulgent Genetics stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the acquisition, the chief financial officer now owns 348,282 shares of the company’s stock, valued at $5,558,580.72. This trade represents a 40.28 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 31.76% of the stock is currently owned by corporate insiders.

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.