Squarepoint Ops LLC Cuts Stake in Fulgent Genetics, Inc. $FLGT

Squarepoint Ops LLC decreased its position in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 69.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,478 shares of the company’s stock after selling 60,707 shares during the period. Squarepoint Ops LLC’s holdings in Fulgent Genetics were worth $526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC lifted its position in Fulgent Genetics by 124.0% in the first quarter. Acadian Asset Management LLC now owns 805,941 shares of the company’s stock valued at $13,611,000 after purchasing an additional 446,076 shares during the period. Millennium Management LLC raised its stake in shares of Fulgent Genetics by 28.6% during the 1st quarter. Millennium Management LLC now owns 1,969,433 shares of the company’s stock worth $33,283,000 after buying an additional 437,632 shares in the last quarter. Diametric Capital LP acquired a new stake in shares of Fulgent Genetics in the 2nd quarter valued at approximately $3,359,000. Cubist Systematic Strategies LLC boosted its stake in shares of Fulgent Genetics by 299.4% in the first quarter. Cubist Systematic Strategies LLC now owns 221,221 shares of the company’s stock valued at $3,739,000 after buying an additional 165,828 shares in the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new stake in shares of Fulgent Genetics in the second quarter valued at approximately $2,678,000. 48.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Hanlin Gao sold 1,075 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $28.33, for a total transaction of $30,454.75. Following the completion of the transaction, the insider directly owned 952,890 shares of the company’s stock, valued at $26,995,373.70. This trade represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jian Xie sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $29.10, for a total value of $291,000.00. Following the completion of the sale, the chief operating officer directly owned 349,768 shares in the company, valued at approximately $10,178,248.80. The trade was a 2.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 15,572 shares of company stock valued at $454,112. Corporate insiders own 31.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on FLGT. Wall Street Zen cut Fulgent Genetics from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Raymond James Financial reiterated an “outperform” rating and issued a $36.00 price objective on shares of Fulgent Genetics in a research note on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fulgent Genetics in a report on Wednesday, October 8th. Finally, Piper Sandler upped their target price on shares of Fulgent Genetics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fulgent Genetics has a consensus rating of “Hold” and a consensus price target of $32.00.

Fulgent Genetics Stock Down 0.5%

NASDAQ:FLGT opened at $27.04 on Thursday. Fulgent Genetics, Inc. has a 52-week low of $14.57 and a 52-week high of $31.04. The stock has a fifty day simple moving average of $26.67 and a 200-day simple moving average of $22.87. The company has a market capitalization of $835.65 million, a PE ratio of -19.45 and a beta of 0.65.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.36. Fulgent Genetics had a negative net margin of 13.62% and a negative return on equity of 2.55%. The firm had revenue of $84.07 million for the quarter, compared to analysts’ expectations of $81.43 million. Fulgent Genetics has set its FY 2025 guidance at 0.300-0.300 EPS. As a group, equities analysts anticipate that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Fulgent Genetics Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.