AlphaCentric Advisors LLC has acquired a new stake in Fulgent Genetics, Inc. (Nasdaq: FLGT – Get the rating) in the third quarter, according to the latest 13F filing with the Securities and Exchange Commission. The fund acquired 30,500 shares of the company’s stock, with an estimated value of $1,163,000. Fulgent Genetics makes up 1.2% of the holdings of AlphaCentric Advisors LLC, making the stock the 20th largest holding. AlphaCentric Advisors LLC owns 0.10% of Fulgent Genetics as of its most recent SEC filings.
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A number of institutional investors and hedge funds have also made changes to their positions in FLGT. Los Angeles Capital Management LLC increased its position in shares of Fulgent Genetics by 74.7% during the second quarter. Los Angeles Capital Management LLC now owns 19,614 shares of the company’s stock valued at $1,070,000 after purchasing an additional 8,388 shares last quarter. Victory Capital Management boosted its position in shares of Fulgent Genetics by 20.6% during the second quarter. Victory Capital Management now owns 27,514 shares of the company’s stock valued at $1,500,000 after purchasing an additional 4,693 shares last quarter. Ronald Blue Trust, Inc. increased its position in shares of Fulgent Genetics by 1,114.0% during the third quarter. The Ronald Blue Trust now owns 607 shares of the company’s stock, valued at $33,000, after purchasing an additional 557 shares last quarter. The Texas Permanent Schools Fund increased its position in shares of Fulgent Genetics by 2.4% during the third quarter. The Texas Permanent School Fund now owns 14,587 shares of the company’s stock worth $556,000 after purchasing an additional 339 shares last quarter. Finally, Pavadi Capital LLC strengthened its position in shares of Fulgent Genetics up 18.9% during the second quarter. Pavadi Capital LLC now owns 81,277 shares of the company’s stock valued at $4,432,000 after purchasing an additional 12,944 shares last quarter. 43.22% of the shares are currently held by hedge funds and other institutional investors.
Wall Street analyst forecasts for growth
Several analysts have issued reports on the company. Piper Sandler downgraded Fulgent Genetics from an “overweight” rating to a “neutral” rating and cut the company’s price target from $65.00 to $40.00 in a report on Thursday, December 8th. Raymond James covered Fulgent Genetics in a report on Friday, November 18th. They issued a “Superior” rating and a price target of $45.00 for the company. StockNews.com Coverage of Fulgent Genetics is assumed in a report on Wednesday, October 12th. They issued a “comment” rating for the company. Finally, Credit Suisse lowered its price target on Fulgent Genetics from $65.00 to $50.00 and put an “outperform” rating on the stock in a research note on Monday, November 14th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.
Gene stock performance
FLGT stock It traded as high as $1.52 during mid-day trading on Thursday, to reach $36.27. The company’s trading volume amounted to 93,338 shares, compared to an average trading volume of 201,029. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 3.99 and a beta of 1.58. The company has a 50-day simple moving average of $32.74 and a 200-day simple moving average of $40.10. Register Fulgent Genetics, Inc. The 52-week low is at $28.53 and the 52-week high is at $73.47.
Fulgent Genetics (Nasdaq: FLGT – Get the rating) last released its quarterly earnings data on Monday, November 7th. The company reported $0.11 earnings per share for the quarter, beating analyst estimates of ($0.02) by $0.13. The company had revenue of $105.66 million for the quarter, compared to a consensus estimate of $103.70 million. Fulgent Genetics had a return on equity of 22.10% and a net margin of 33.82%. As a group, analysts expect Fulgent Genetics, Inc. 4.93 earnings per share for the current year.
Fulgent Genetics Company Profile
Fulgent Genetics, Inc. is a technology company engaged in providing gene testing and sequencing solutions. Offers genes and panels, known mutations, hereditary cancer, carrier screening, and tumor diagnostics solutions. The company was incorporated on May 13, 2016 and is headquartered in Temple City, California.
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