Diametric Capital LP Acquires New Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Diametric Capital LP bought a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 38,818 shares of the company’s stock, valued at approximately $717,000. Diametric Capital LP owned approximately 0.13% of Fulgent Genetics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Point72 DIFC Ltd bought a new stake in shares of Fulgent Genetics in the 3rd quarter worth approximately $46,000. GAMMA Investing LLC lifted its stake in 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 purchasing an additional 667 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Fulgent Genetics during the fourth quarter valued at about $57,000. R Squared Ltd bought a new position in shares of Fulgent Genetics during the fourth quarter valued at about $74,000. Finally, Amundi increased its holdings 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 during the period. 48.06% of the stock is currently owned by institutional investors.

Fulgent Genetics Trading Down 0.9 %

FLGT stock opened at $16.90 on Tuesday. The stock has a market capitalization of $521.64 million, a price-to-earnings ratio of -3.06 and a beta of 1.54. The firm’s 50-day moving average price is $16.80 and its two-hundred day moving average price is $18.61. Fulgent Genetics, Inc. has a 12-month low of $14.57 and a 12-month high of $25.11.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Piper Sandler cut their target price on shares of Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th.

Insider Buying and Selling

In other Fulgent Genetics news, CFO Paul Kim purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought 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 directly 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 filing with the SEC, which is available at this hyperlink. 31.76% of the stock is owned by insiders.

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.