Los Angeles Capital Management LLC cuts stake in Fulgent Genetics, Inc. (NASDAQ:FLGT)
Los Angeles Capital Management LLC reduced its interest in Fulgent Genetics, Inc. (NASDAQ:FLGT – get grade) by 48.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund held 10,183 shares of the company’s share capital after selling 9,431 shares during the period. Los Angeles Capital Management LLC’s holdings in Fulgent Genetics were worth $388,000 as of its most recent filing with the SEC.
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Several other institutional investors have also recently modified their stock holdings. Victory Capital Management Inc. increased its stake in Fulgent Genetics shares by 2.7% in the third quarter. Victory Capital Management Inc. now owns 28,264 shares of the company worth $1,078,000 after acquiring an additional 750 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Fulgent Genetics shares by 19.8% in the third quarter. Great West Life Assurance Co. Can now owns 23,671 shares of the company worth $903,000 after acquiring an additional 3,912 shares during the last quarter. Assetmark Inc. increased its stake in Fulgent Genetics shares by 4.1% in the third quarter. Assetmark Inc. now owns 15,714 shares of the company worth $599,000 after acquiring an additional 615 shares during the last quarter. TCW Group Inc. boosted its position in Fulgent Genetics shares by 6.0% during the third quarter. TCW Group Inc. now owns 93,736 shares of the company valued at $3,573,000 after purchasing an additional 5,346 shares during the last quarter. Finally, Sargent Bickham Lagudis LLC purchased a new share of Fulgent Genetics stock during the third quarter valued at $85,000. 43.22% of the shares are owned by hedge funds and other institutional investors.
Fulgent Genetics Stock Performance
Actions of NASDAQ:FLGT it opened at $33.29 on Friday. The stock has a market capitalization of $979.99 million, a price-earnings ratio of 3.83, and a beta of 1.55. The stock’s 50-day simple moving average is $32.94 and its 200-day simple moving average is $40.88. Fulgent Genetics, Inc. has a 52 week low of $28.53 and a 52 week high of $73.47.
glowing genetics (NASDAQ:FLGT – get grade) last announced its earnings results on Monday, November 7. The company reported earnings per share (EPS) of $0.11 for the quarter, beating the consensus estimate of ($0.02) by $0.13. The business had revenue of $105.66 million in the quarter, compared with analyst expectations of $103.70 million. Fulgent Genetics achieved a return on equity of 22.10% and a net margin of 33.82%. As a group, stock analysts forecast Fulgent Genetics, Inc. to post 4.93 earnings per share for the current fiscal year.
Analysts set new price targets
FLGT has been the subject of several recent analyst reports. Piper Sandler downgraded Fulgent Genetics from an “overweight” rating to a “neutral” rating and lowered her price target for the company from $65.00 to $40.00 in a research report on Thursday, December 8. Credit Suisse Group lowered its price target on Fulgent Genetics from $65.00 to $50.00 and set an “outperform” rating for the stock in a research report on Monday, November 14. Raymond James kicked off the coverage of Fulgent Genetics in an investigative report on Friday, November 18. They set an “outperform” rating and a $45.00 price target on the stock. Finally, stocknews.com kicked off coverage of Fulgent Genetics in an investigative report on Wednesday, October 12. They set a “hold” rating on the stock. Two research analysts gave the stock a Hold rating and two assigned a Buy rating to the stock. Based on data from MarketBeat.com, Fulgent Genetics currently has an average rating of “Moderate Buy” and an average price target of $45.00.
About Fulgent Genetics
Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing, molecular diagnostics, and COVID-19 services to physicians and patients in the United States and internationally. The company offers genetic testing that includes Focus and Comprehensive oncology panel tests; Beacon carrier screening panels test for hereditary conditions; Molecular profiling of solid tumors for somatic cancer testing; rapid genome-wide testing for children in the NICU and PICU; newborn genetic analysis panel; single first-line test to detect ataxia-related variants and repeat expansions using sequencing; genetic imaging, a patient-initiated genetic test; whole exome panel and clinical exome tests; genome-wide, mutation, and repeat expansion testing services, as well as research services testing.
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