Diametric Capital LP Makes New Investment in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Diametric Capital LP bought a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 38,818 shares of the company’s stock, valued at approximately $717,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in Fulgent Genetics by 45.5% in the fourth quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock worth $39,000 after purchasing an additional 667 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Fulgent Genetics by 5.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 35,324 shares of the company’s stock valued at $652,000 after buying an additional 1,689 shares in the last quarter. Centiva Capital LP grew its position in shares of Fulgent Genetics by 16.5% in the 3rd quarter. Centiva Capital LP now owns 12,538 shares of the company’s stock worth $272,000 after buying an additional 1,774 shares during the period. Point72 DIFC Ltd bought a new position in shares of Fulgent Genetics in the 3rd quarter worth about $46,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Fulgent Genetics during the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Price Performance

Shares of NASDAQ:FLGT opened at $16.90 on Tuesday. The business has a fifty day moving average price of $16.80 and a 200-day moving average price of $18.61. The company has a market capitalization of $521.64 million, a PE ratio of -3.06 and a beta of 1.54. Fulgent Genetics, Inc. has a 1-year low of $14.57 and a 1-year high of $25.11.

Insider Activity at Fulgent Genetics

In other news, CFO Paul Kim acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought 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 directly owns 348,282 shares in the company, valued at approximately $5,558,580.72. The trade was 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 insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FLGT shares. StockNews.com upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Piper Sandler cut their price target on Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th.

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.