Centiva Capital LP Purchases 4,872 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Centiva Capital LP boosted its position in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 38.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,410 shares of the company’s stock after buying an additional 4,872 shares during the period. Centiva Capital LP’s holdings in Fulgent Genetics were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Caxton Associates LP boosted its stake in Fulgent Genetics by 249.3% in the 4th quarter. Caxton Associates LP now owns 39,934 shares of the company’s stock valued at $738,000 after purchasing an additional 28,502 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Fulgent Genetics during the 4th quarter valued at $486,000. BNP Paribas Financial Markets lifted its position in shares of Fulgent Genetics by 10.8% during the 4th quarter. BNP Paribas Financial Markets now owns 48,527 shares of the company’s stock valued at $896,000 after acquiring an additional 4,714 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Fulgent Genetics by 40.8% during the 4th quarter. Ameriprise Financial Inc. now owns 501,809 shares of the company’s stock valued at $9,268,000 after acquiring an additional 145,518 shares during the period. Finally, Almitas Capital LLC acquired a new position in shares of Fulgent Genetics during the 4th quarter worth $296,000. 48.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Paul Kim purchased 100,000 shares of the firm’s stock in a transaction dated 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 owns 348,282 shares in the company, valued at approximately $5,558,580.72. This represents a 40.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 31.76% of the company’s stock.

Fulgent Genetics Trading Up 5.3%

Shares of FLGT stock opened at $19.55 on Monday. The stock has a market cap of $595.18 million, a price-to-earnings ratio of -3.54 and a beta of 1.00. The stock has a 50-day moving average of $17.80 and a 200-day moving average of $18.05. Fulgent Genetics, Inc. has a 1-year low of $14.57 and a 1-year high of $25.11.

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

Analysts Set New Price Targets

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

Fulgent Genetics 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.