Comerica Bank acquired a new stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,253 shares of the company’s stock, valued at approximately $439,000. Comerica Bank owned approximately 0.06% of Fulgent Genetics as of its most recent SEC filing.
Several other large investors also recently modified their holdings of FLGT. Captrust Financial Advisors purchased a new stake in shares of Fulgent Genetics in the second quarter valued at $32,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Fulgent Genetics in the third quarter valued at $58,000. UBS Group AG lifted its position in Fulgent Genetics by 392.1% during the second quarter. UBS Group AG now owns 4,001 shares of the company’s stock worth $64,000 after buying an additional 3,188 shares during the period. American International Group Inc. purchased a new position in Fulgent Genetics during the second quarter worth about $95,000. Finally, NEXT Financial Group Inc purchased a new position in Fulgent Genetics during the third quarter worth about $109,000. Institutional investors and hedge funds own 61.08% of the company’s stock.
FLGT stock opened at $43.00 on Friday. Fulgent Genetics, Inc. has a 1 year low of $6.70 and a 1 year high of $52.47. The firm has a market cap of $1.04 billion, a P/E ratio of 358.36 and a beta of 1.75. The stock has a 50-day simple moving average of $38.69 and a 200-day simple moving average of $28.48.
Fulgent Genetics (NASDAQ:FLGT) last posted its earnings results on Monday, November 9th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $1.69. Fulgent Genetics had a return on equity of 5.05% and a net margin of 5.78%. As a group, research analysts expect that Fulgent Genetics, Inc. will post 1.07 EPS for the current fiscal year.
In related news, CFO Paul Kim sold 100,000 shares of the stock in a transaction dated Monday, November 16th. The stock was sold at an average price of $46.17, for a total value of $4,617,000.00. Following the completion of the transaction, the chief financial officer now owns 235,899 shares of the company’s stock, valued at $10,891,456.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jian Xie sold 3,706 shares of the stock in a transaction dated Tuesday, November 17th. The shares were sold at an average price of $45.34, for a total value of $168,030.04. Following the completion of the transaction, the chief operating officer now directly owns 447,585 shares of the company’s stock, valued at approximately $20,293,503.90. The disclosure for this sale can be found here. Insiders sold 109,142 shares of company stock valued at $5,013,199 in the last three months. 45.00% of the stock is currently owned by company insiders.
FLGT has been the topic of several recent analyst reports. Piper Sandler increased their target price on Fulgent Genetics from $73.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 10th. CSFB upped their price target on Fulgent Genetics from $13.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, September 25th. Oppenheimer restated a “buy” rating and set a $75.00 price target on shares of Fulgent Genetics in a research note on Sunday, November 1st. BidaskClub lowered Fulgent Genetics from a “buy” rating to a “hold” rating in a research note on Monday, October 19th. Finally, TheStreet upgraded Fulgent Genetics from a “c+” rating to a “b-” rating in a research note on Friday, November 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $53.83.
Fulgent Genetics Company Profile
Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, adaptive learning software, and genetic diagnostics tools and integrated laboratory processes.
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