Ameriprise Financial Inc. Raises Stock Holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Ameriprise Financial Inc. boosted its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 40.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 501,809 shares of the company’s stock after purchasing an additional 145,518 shares during the period. Ameriprise Financial Inc.’s holdings in Fulgent Genetics were worth $9,268,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Almitas Capital LLC purchased a new position in Fulgent Genetics during the fourth quarter worth approximately $296,000. Northern Trust Corp raised its holdings in shares of Fulgent Genetics by 5.8% during the fourth quarter. Northern Trust Corp now owns 225,362 shares of the company’s stock valued at $4,162,000 after acquiring an additional 12,291 shares during the last quarter. Aquatic Capital Management LLC raised its holdings in shares of Fulgent Genetics by 157.4% during the fourth quarter. Aquatic Capital Management LLC now owns 12,869 shares of the company’s stock valued at $238,000 after acquiring an additional 7,869 shares during the last quarter. Nebula Research & Development LLC acquired a new position in shares of Fulgent Genetics during the fourth quarter valued at approximately $609,000. Finally, Syon Capital LLC acquired a new position in shares of Fulgent Genetics during the fourth quarter valued at approximately $287,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Stock Performance

NASDAQ:FLGT opened at $21.22 on Wednesday. Fulgent Genetics, Inc. has a one year low of $14.57 and a one year high of $25.11. The stock has a market cap of $646.02 million, a PE ratio of -3.84 and a beta of 1.00. The stock has a 50 day moving average price of $18.22 and a 200 day moving average price of $18.07.

Fulgent Genetics (NASDAQ:FLGT) last posted its earnings results on Friday, May 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.22. Fulgent Genetics had a negative return on equity of 1.81% and a negative net margin of 59.39%. The company had revenue of $73.46 million during the quarter, compared to analysts’ expectations of $71.26 million. During the same quarter last year, the firm earned ($0.01) earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, analysts predict that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FLGT has been the subject of a number of research analyst reports. Raymond James reissued an “outperform” rating and set a $25.00 target price (up previously from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th. StockNews.com raised Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Piper Sandler reissued a “neutral” rating and set a $23.00 target price (up previously from $16.00) on shares of Fulgent Genetics in a report on Tuesday, May 6th.

Insiders Place Their Bets

In other news, CFO Paul Kim purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the acquisition, the chief financial officer now directly owns 348,282 shares in the company, valued at approximately $5,558,580.72. The trade was a 40.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 31.76% of the stock is owned by company 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.