Gladius Capital Management LP Buys New Holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Gladius Capital Management LP purchased a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 3,746 shares of the company’s stock, valued at approximately $81,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Fulgent Genetics by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,424,448 shares of the company’s stock worth $30,911,000 after acquiring an additional 8,257 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Fulgent Genetics by 34.3% during the 2nd quarter. Millennium Management LLC now owns 958,852 shares of the company’s stock valued at $18,813,000 after purchasing an additional 244,981 shares during the last quarter. Divisadero Street Capital Management LP grew its position in shares of Fulgent Genetics by 46.4% during the second quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock valued at $9,912,000 after purchasing an additional 160,212 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Fulgent Genetics by 37.6% in the second quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company’s stock worth $3,948,000 after purchasing an additional 55,020 shares during the last quarter. Finally, TCW Group Inc. lifted its position in shares of Fulgent Genetics by 3.0% in the second quarter. TCW Group Inc. now owns 120,100 shares of the company’s stock worth $2,356,000 after buying an additional 3,500 shares in the last quarter. 48.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,313 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $22.83, for a total value of $52,805.79. Following the sale, the chief executive officer now directly owns 707,275 shares of the company’s stock, valued at $16,147,088.25. This represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 4,324 shares of company stock worth $98,717. Company insiders own 31.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler lowered their target price on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. StockNews.com lowered shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th.

Fulgent Genetics Price Performance

Shares of FLGT stock opened at $17.31 on Friday. The company has a market cap of $529.51 million, a PE ratio of -3.14 and a beta of 1.51. The stock’s 50 day simple moving average is $20.68 and its two-hundred day simple moving average is $21.38. Fulgent Genetics, Inc. has a 1 year low of $17.31 and a 1 year high of $30.68.

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.