Quest Partners LLC Sells 9,179 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Quest Partners LLC cut its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 51.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,607 shares of the company’s stock after selling 9,179 shares during the period. Quest Partners LLC’s holdings in Fulgent Genetics were worth $187,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FLGT. Asset Dedication LLC purchased a new position in shares of Fulgent Genetics during the second quarter valued at approximately $33,000. nVerses Capital LLC purchased a new position in shares of Fulgent Genetics during the second quarter valued at approximately $43,000. Signaturefd LLC increased its stake in shares of Fulgent Genetics by 103.6% during the second quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock valued at $44,000 after buying an additional 1,132 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Fulgent Genetics during the second quarter valued at approximately $63,000. Finally, Gladius Capital Management LP purchased a new position in shares of Fulgent Genetics during the third quarter valued at approximately $81,000. 48.06% of the stock is owned by hedge funds and other institutional investors.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock opened at $18.07 on Thursday. Fulgent Genetics, Inc. has a 1 year low of $16.56 and a 1 year high of $30.68. The firm has a market cap of $552.76 million, a price-to-earnings ratio of -3.27 and a beta of 1.51. The company has a 50-day moving average of $19.96 and a 200 day moving average of $21.16.

Insiders Place Their Bets

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of Fulgent Genetics stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.26, for a total transaction of $40,665.02. Following the completion of the transaction, the chief executive officer now owns 703,711 shares in the company, valued at approximately $12,849,762.86. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 3,413 shares of company stock worth $62,321. 32.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FLGT shares. Piper Sandler reduced their target price on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. StockNews.com cut Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday.

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.