Paul Kim Acquires 100,000 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) Stock

Fulgent Genetics, Inc. (NASDAQ:FLGT) CFO Paul Kim purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $15.96 per share, with a total value of $1,596,000.00. Following the completion of the purchase, the chief financial officer now owns 348,282 shares of the company’s stock, valued at $5,558,580.72. The trade was a 40.28 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Fulgent Genetics Price Performance

FLGT stock opened at $16.65 on Thursday. The firm’s fifty day simple moving average is $17.15 and its 200-day simple moving average is $19.30. Fulgent Genetics, Inc. has a 12 month low of $14.57 and a 12 month high of $25.11. The company has a market capitalization of $509.27 million, a P/E ratio of -3.02 and a beta of 1.39.

Institutional Investors Weigh In On Fulgent Genetics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Fulgent Genetics by 13.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,654 shares of the company’s stock worth $936,000 after buying an additional 5,986 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Fulgent Genetics by 178.3% in the fourth quarter. Squarepoint Ops LLC now owns 41,608 shares of the company’s stock valued at $768,000 after acquiring an additional 26,659 shares during the period. Two Sigma Advisers LP boosted its position in Fulgent Genetics by 29.7% in the 4th quarter. Two Sigma Advisers LP now owns 83,000 shares of the company’s stock worth $1,533,000 after purchasing an additional 19,000 shares in the last quarter. State of Wyoming purchased a new position in shares of Fulgent Genetics during the 4th quarter valued at approximately $57,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Fulgent Genetics in the 4th quarter valued at $242,000. 48.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on FLGT. Piper Sandler lowered their price objective on shares of Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday. StockNews.com raised Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Wednesday.

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.