37,088 Shares in Fulgent Genetics, Inc. (NASDAQ:FLGT) Purchased by Inlight Wealth Management LLC

Inlight Wealth Management LLC purchased a new stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 37,088 shares of the company’s stock, valued at approximately $685,000. Inlight Wealth Management LLC owned 0.12% of Fulgent Genetics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of Fulgent Genetics by 113.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock worth $7,346,000 after purchasing an additional 179,477 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised 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 buying an additional 112,011 shares in the last quarter. Peapod Lane Capital LLC purchased a new stake in Fulgent Genetics in the fourth quarter worth about $2,022,000. Trexquant Investment LP boosted its position in Fulgent Genetics by 47.0% during the 4th quarter. Trexquant Investment LP now owns 128,606 shares of the company’s stock valued at $2,375,000 after acquiring an additional 41,147 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its holdings in shares of Fulgent Genetics by 75.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 92,197 shares of the company’s stock worth $1,703,000 after acquiring an additional 39,618 shares during the period. Institutional investors own 48.06% of the company’s stock.

Insider Transactions at Fulgent Genetics

In related news, CFO Paul Kim acquired 100,000 shares of Fulgent Genetics 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 transaction, the chief financial officer now directly owns 348,282 shares in the company, valued at approximately $5,558,580.72. This represents a 40.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 31.76% of the company’s stock.

Analysts Set New Price Targets

FLGT has been the subject of a number of research analyst reports. StockNews.com upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Piper Sandler lowered their price objective on Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th.

Fulgent Genetics Price Performance

NASDAQ:FLGT opened at $17.33 on Friday. The firm has a market capitalization of $534.91 million, a P/E ratio of -3.14 and a beta of 1.36. Fulgent Genetics, Inc. has a one year low of $14.57 and a one year high of $25.11. The company’s 50-day simple moving average is $16.85 and its 200 day simple moving average is $18.31.

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.