JPMorgan Chase & Co. Increases Position in Fulgent Genetics, Inc. $FLGT

JPMorgan Chase & Co. lifted its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 767.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 299,014 shares of the company’s stock after acquiring an additional 264,524 shares during the quarter. JPMorgan Chase & Co. owned 0.97% of Fulgent Genetics worth $6,758,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Rhumbline Advisers boosted its position in Fulgent Genetics by 2.4% in the second quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock worth $659,000 after purchasing an additional 785 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Fulgent Genetics by 11.2% during the 3rd quarter. Mackenzie Financial Corp now owns 12,155 shares of the company’s stock worth $275,000 after purchasing an additional 1,220 shares during the period. Peapod Lane Capital LLC raised its stake in shares of Fulgent Genetics by 1.1% during the 3rd quarter. Peapod Lane Capital LLC now owns 164,579 shares of the company’s stock worth $3,720,000 after purchasing an additional 1,810 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Fulgent Genetics by 2.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 87,318 shares of the company’s stock worth $1,736,000 after buying an additional 2,128 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Fulgent Genetics in the 2nd quarter worth about $49,000. 48.06% of the stock is currently owned by institutional investors.

Fulgent Genetics Stock Performance

Shares of FLGT opened at $15.90 on Wednesday. The business has a 50-day moving average of $20.35 and a 200 day moving average of $23.84. Fulgent Genetics, Inc. has a fifty-two week low of $13.46 and a fifty-two week high of $31.04. The firm has a market cap of $496.57 million, a P/E ratio of -8.11 and a beta of 0.94.

Fulgent Genetics (NASDAQ:FLGT) last released its quarterly earnings data on Friday, February 27th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.02 by $0.14. The business had revenue of $83.34 million for the quarter, compared to the consensus estimate of $85.38 million. Fulgent Genetics had a negative net margin of 18.75% and a negative return on equity of 2.22%. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. As a group, research analysts predict that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on FLGT. Zacks Research downgraded shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Wall Street Zen cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.00.

About Fulgent Genetics

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.