Fulgent Genetics, Inc. $FLGT Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 3,217.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,739 shares of the company’s stock after buying an additional 32,722 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.11% of Fulgent Genetics worth $536,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Fulgent Genetics by 2,984,354.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock valued at $39,985,000 after purchasing an additional 1,522,021 shares during the period. RTW Investments LP acquired a new position in shares of Fulgent Genetics in the 4th quarter worth $18,521,000. JPMorgan Chase & Co. increased its position in shares of Fulgent Genetics by 767.0% in the third quarter. JPMorgan Chase & Co. now owns 299,014 shares of the company’s stock worth $6,758,000 after acquiring an additional 264,524 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Fulgent Genetics by 89.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 348,533 shares of the company’s stock worth $9,156,000 after acquiring an additional 164,535 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Fulgent Genetics by 261.1% during the 4th quarter. Wells Fargo & Company MN now owns 120,781 shares of the company’s stock valued at $3,173,000 after acquiring an additional 87,329 shares in the last quarter. 48.06% of the stock is currently owned by institutional investors.

Fulgent Genetics Stock Performance

Shares of NASDAQ FLGT opened at $18.55 on Wednesday. The stock has a market cap of $510.31 million, a PE ratio of -6.58 and a beta of 0.90. The business has a fifty day moving average of $19.33 and a two-hundred day moving average of $19.04. Fulgent Genetics, Inc. has a 52-week low of $13.46 and a 52-week high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.12). Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%.The business had revenue of $85.39 million for the quarter, compared to the consensus estimate of $94.00 million. Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. Analysts predict that Fulgent Genetics, Inc. will post -2.81 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wall Street Zen upgraded Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fulgent Genetics in a research report on Monday, July 6th. Finally, Piper Sandler lifted their price target on Fulgent Genetics from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.50.

Insider Activity at Fulgent Genetics

In other news, insider Hanlin Gao sold 1,688 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $30,198.32. Following the completion of the sale, the insider directly owned 990,374 shares of the company’s stock, valued at $17,717,790.86. This represents a 0.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $38,391.94. Following the completion of the sale, the chief operating officer owned 367,605 shares in the company, valued at $6,576,453.45. This represents a 0.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,980 shares of company stock worth $106,360 over the last 90 days. 36.18% of the stock is currently owned by company insiders.

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.