Geode Capital Management LLC Grows Stock Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Geode Capital Management LLC boosted its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 2.7% during the third quarter, Holdings Channel.com reports. The fund owned 502,869 shares of the company’s stock after acquiring an additional 13,320 shares during the period. Geode Capital Management LLC’s holdings in Fulgent Genetics were worth $10,930,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Asset Dedication LLC acquired a new stake in shares of Fulgent Genetics in the second quarter valued at approximately $33,000. nVerses Capital LLC purchased a new stake in Fulgent Genetics in the 2nd quarter valued at approximately $43,000. Signaturefd LLC grew its holdings in Fulgent Genetics by 103.6% during the 2nd 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 last quarter. Point72 DIFC Ltd purchased a new position in Fulgent Genetics during the third quarter worth $46,000. Finally, Canada Pension Plan Investment Board purchased a new position in Fulgent Genetics during the second quarter worth $63,000. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

Fulgent Genetics Stock Performance

Shares of NASDAQ FLGT opened at $18.47 on Wednesday. The firm has a market cap of $564.94 million, a P/E ratio of -3.35 and a beta of 1.42. Fulgent Genetics, Inc. has a 1 year low of $16.56 and a 1 year high of $29.91. The firm’s 50 day moving average price is $19.26 and its 200 day moving average price is $20.85.

Insiders Place Their Bets

In related news, CEO Ming Hsieh sold 2,227 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.26, for a total value of $40,665.02. Following the completion of the transaction, the chief executive officer now directly owns 703,711 shares in the company, valued at approximately $12,849,762.86. This represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 3,413 shares of company stock valued at $62,321 in the last quarter. 31.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on FLGT. Piper Sandler decreased their price objective 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 lowered shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

Fulgent Genetics Company 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.