Connor Clark & Lunn Investment Management Ltd. Acquires 112,011 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 803.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 125,957 shares of the company’s stock after buying an additional 112,011 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Fulgent Genetics were worth $2,326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in shares of Fulgent Genetics by 45.5% during the fourth quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock worth $39,000 after acquiring an additional 667 shares in the last quarter. Point72 DIFC Ltd bought a new position in Fulgent Genetics during the 3rd quarter worth about $46,000. R Squared Ltd acquired a new stake in shares of Fulgent Genetics in the 4th quarter valued at about $74,000. Amundi lifted its holdings in shares of Fulgent Genetics by 143.7% in the fourth quarter. Amundi now owns 8,816 shares of the company’s stock valued at $166,000 after purchasing an additional 5,199 shares in the last quarter. Finally, Wealthspire Advisors LLC acquired a new position in shares of Fulgent Genetics during the fourth quarter worth about $186,000. Institutional investors own 48.06% of the company’s stock.

Insider Buying and Selling

In other news, CFO Paul Kim bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost 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 of the company’s stock, valued at $5,558,580.72. This represents a 40.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 31.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLGT. StockNews.com raised Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Piper Sandler lowered their price objective on shares of Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th.

Fulgent Genetics Price Performance

Fulgent Genetics stock opened at $17.13 on Wednesday. The company has a market cap of $528.10 million, a price-to-earnings ratio of -3.10 and a beta of 1.54. The firm has a 50-day moving average of $16.95 and a 200-day moving average of $18.91. Fulgent Genetics, Inc. has a one year low of $14.57 and a one year high of $25.11.

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.