Y Intercept Hong Kong Ltd Invests $1.08 Million in Fulgent Genetics, Inc. $FLGT

Y Intercept Hong Kong Ltd acquired a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 67,697 shares of the company’s stock, valued at approximately $1,076,000. Y Intercept Hong Kong Ltd owned about 0.23% of Fulgent Genetics as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Fulgent Genetics by 2,984,354.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock worth $39,985,000 after buying an additional 1,522,021 shares during the period. Millennium Management LLC boosted its holdings in Fulgent Genetics by 1.8% in the third quarter. Millennium Management LLC now owns 1,468,844 shares of the company’s stock valued at $33,196,000 after acquiring an additional 26,582 shares during the last quarter. Vanguard Group Inc. increased its position in Fulgent Genetics by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,179,254 shares of the company’s stock valued at $26,651,000 after purchasing an additional 13,295 shares during the period. RTW Investments LP acquired a new stake in Fulgent Genetics during the 4th quarter valued at approximately $18,521,000. Finally, Geode Capital Management LLC raised its holdings in Fulgent Genetics by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 508,224 shares of the company’s stock worth $13,353,000 after purchasing an additional 6,553 shares during the last quarter. 48.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Jian Xie sold 2,146 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $38,391.94. Following the completion of the sale, the chief operating officer owned 367,605 shares in the company, valued at $6,576,453.45. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hanlin Gao sold 1,688 shares of Fulgent Genetics stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $30,198.32. Following the completion of the sale, the insider directly owned 990,374 shares of the company’s stock, valued at approximately $17,717,790.86. The trade was a 0.17% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,980 shares of company stock valued at $106,360 in the last three months. Insiders own 36.18% of the company’s stock.

Analyst Ratings Changes

FLGT has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. Piper Sandler reiterated a “neutral” rating and set a $15.00 price target (down from $30.00) on shares of Fulgent Genetics in a report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Fulgent Genetics in a research report on Monday, July 6th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.00.

Fulgent Genetics Price Performance

Shares of FLGT traded down $0.33 during trading hours on Friday, hitting $20.55. The stock had a trading volume of 211,591 shares, compared to its average volume of 261,862. The firm has a 50 day simple moving average of $18.13 and a 200-day simple moving average of $19.98. The firm has a market capitalization of $583.62 million, a P/E ratio of -8.60 and a beta of 0.89. Fulgent Genetics, Inc. has a 1-year low of $13.46 and a 1-year high of $31.04.

Fulgent Genetics Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.