Invenomic Capital Management LP Has $5.43 Million Stock Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Invenomic Capital Management LP raised its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 98.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,747 shares of the company’s stock after acquiring an additional 124,185 shares during the quarter. Invenomic Capital Management LP owned about 0.82% of Fulgent Genetics worth $5,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLGT. Vanguard Group Inc. increased its position in Fulgent Genetics by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,424,448 shares of the company’s stock valued at $30,911,000 after acquiring an additional 8,257 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Fulgent Genetics by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,261 shares of the company’s stock valued at $310,000 after purchasing an additional 3,458 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Fulgent Genetics by 36.4% in the 2nd quarter. SG Americas Securities LLC now owns 12,826 shares of the company’s stock valued at $252,000 after purchasing an additional 3,425 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Fulgent Genetics by 3.0% in the 2nd quarter. TCW Group Inc. now owns 120,100 shares of the company’s stock valued at $2,356,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Fulgent Genetics by 37.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company’s stock valued at $3,948,000 after purchasing an additional 55,020 shares during the last quarter. Institutional investors and hedge funds own 48.06% of the company’s stock.

Insider Activity

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $18.26, for a total value of $40,665.02. Following the transaction, the chief executive officer now directly owns 703,711 shares in the company, valued at $12,849,762.86. The trade was a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 3,413 shares of company stock worth $62,321 over the last ninety days. Insiders own 32.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FLGT shares. Piper Sandler reduced their target price on shares of 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 research note on Wednesday, November 27th.

Fulgent Genetics Stock Up 6.9 %

Shares of FLGT opened at $19.57 on Tuesday. Fulgent Genetics, Inc. has a twelve month low of $16.56 and a twelve month high of $30.68. The firm’s 50 day moving average price is $19.74 and its two-hundred day moving average price is $21.07.

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.