Magnetar Financial LLC Acquires Shares of 16,977 Fulgent Genetics, Inc. (NASDAQ:FLGT)

Magnetar Financial LLC bought a new stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,977 shares of the company’s stock, valued at approximately $314,000.

Other hedge funds also recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in shares of Fulgent Genetics in the 3rd quarter valued at about $46,000. GAMMA Investing LLC boosted its stake in shares of Fulgent Genetics by 45.5% in the 4th quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock valued at $39,000 after purchasing an additional 667 shares during the last quarter. R Squared Ltd bought a new position in shares of Fulgent Genetics in the 4th quarter valued at about $74,000. Amundi boosted its stake in shares of Fulgent Genetics by 143.7% in the 4th quarter. Amundi now owns 8,816 shares of the company’s stock valued at $166,000 after purchasing an additional 5,199 shares during the last quarter. Finally, Wealthspire Advisors LLC bought a new position in shares of Fulgent Genetics in the 4th quarter valued at about $186,000. Institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Price Performance

Fulgent Genetics stock opened at $17.09 on Friday. The company’s 50 day simple moving average is $16.84 and its 200 day simple moving average is $18.82. Fulgent Genetics, Inc. has a fifty-two week low of $14.57 and a fifty-two week high of $25.11. The firm has a market capitalization of $526.87 million, a price-to-earnings ratio of -3.10 and a beta of 1.54.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com raised shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Piper Sandler reduced their price objective on shares of Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th.

Insider Buying and Selling

In related news, CFO Paul Kim bought 100,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the acquisition, the chief financial officer now owns 348,282 shares of the company’s stock, valued at approximately $5,558,580.72. This represents a 40.28 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 31.76% of the stock is owned by insiders.

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.