Intech Investment Management LLC Increases Holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Intech Investment Management LLC boosted its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 248.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,539 shares of the company’s stock after purchasing an additional 31,037 shares during the period. Intech Investment Management LLC owned approximately 0.14% of Fulgent Genetics worth $804,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Fulgent Genetics in the third quarter valued at about $303,000. Dynamic Technology Lab Private Ltd purchased a new position in Fulgent Genetics in the 3rd quarter worth approximately $286,000. BNP Paribas Financial Markets grew its position in Fulgent Genetics by 220.9% in the third quarter. BNP Paribas Financial Markets now owns 43,813 shares of the company’s stock valued at $952,000 after acquiring an additional 30,160 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Fulgent Genetics by 15.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,668 shares of the company’s stock valued at $971,000 after purchasing an additional 5,898 shares during the period. Finally, Centiva Capital LP lifted its position in shares of Fulgent Genetics by 16.5% during the third quarter. Centiva Capital LP now owns 12,538 shares of the company’s stock worth $272,000 after purchasing an additional 1,774 shares in the last quarter. 48.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Paul Kim purchased 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the purchase, the chief financial officer now owns 348,282 shares of the company’s stock, valued at approximately $5,558,580.72. This trade represents a 40.28 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 31.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FLGT shares. 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 dropped their target price on Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th.

Fulgent Genetics Stock Up 1.2 %

Shares of FLGT opened at $17.09 on Monday. The firm has a market cap of $526.87 million, a price-to-earnings ratio of -3.10 and a beta of 1.54. The business’s 50 day moving average is $16.84 and its two-hundred day moving average is $18.81. Fulgent Genetics, Inc. has a 52-week low of $14.57 and a 52-week high of $25.11.

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.