Campbell & CO Investment Adviser LLC Acquires 9,217 Shares of Fulgent Genetics, Inc. $FLGT

Campbell & CO Investment Adviser LLC lifted its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 51.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 27,061 shares of the company’s stock after purchasing an additional 9,217 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Fulgent Genetics were worth $538,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Millennium Management LLC increased its stake in Fulgent Genetics by 28.6% during the 1st quarter. Millennium Management LLC now owns 1,969,433 shares of the company’s stock worth $33,283,000 after acquiring an additional 437,632 shares during the period. Acadian Asset Management LLC increased its position in shares of Fulgent Genetics by 124.0% in the first quarter. Acadian Asset Management LLC now owns 805,941 shares of the company’s stock worth $13,611,000 after purchasing an additional 446,076 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Fulgent Genetics by 22.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 305,180 shares of the company’s stock valued at $6,067,000 after purchasing an additional 55,521 shares in the last quarter. Deutsche Bank AG lifted its position in Fulgent Genetics by 105.3% during the first quarter. Deutsche Bank AG now owns 269,770 shares of the company’s stock worth $4,559,000 after purchasing an additional 138,340 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Fulgent Genetics by 16.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 243,979 shares of the company’s stock worth $4,123,000 after purchasing an additional 33,768 shares during the period. Institutional investors and hedge funds own 48.06% of the company’s stock.

Fulgent Genetics Stock Performance

FLGT stock opened at $29.10 on Friday. The company has a market capitalization of $899.54 million, a P/E ratio of -17.53 and a beta of 0.92. The company has a fifty day moving average price of $23.34 and a 200-day moving average price of $21.24. Fulgent Genetics, Inc. has a 52-week low of $14.57 and a 52-week high of $30.59.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings data on Friday, November 7th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.36. The business had revenue of $84.07 million during the quarter, compared to the consensus estimate of $81.43 million. Fulgent Genetics had a negative return on equity of 2.26% and a negative net margin of 16.83%. Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. As a group, sell-side analysts forecast that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Jian Xie sold 1,199 shares of Fulgent Genetics stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $21.48, for a total value of $25,754.52. Following the transaction, the chief operating officer directly owned 365,249 shares of the company’s stock, valued at $7,845,548.52. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 5,577 shares of company stock worth $121,024 in the last ninety days. 31.76% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Fulgent Genetics in a report on Wednesday, October 8th. UBS Group upgraded shares of Fulgent Genetics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $20.00 to $30.00 in a research report on Tuesday, August 5th. Piper Sandler boosted their price objective on shares of Fulgent Genetics from $21.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Raymond James Financial restated an “outperform” rating and set a $36.00 target price on shares of Fulgent Genetics in a research note on Friday. Finally, Wall Street Zen upgraded Fulgent Genetics from a “hold” rating to a “buy” rating in a research note on Saturday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Fulgent Genetics presently has an average rating of “Hold” and a consensus price target of $32.00.

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.