Point72 DIFC Ltd Takes $46,000 Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Point72 DIFC Ltd acquired a new position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,114 shares of the company’s stock, valued at approximately $46,000.

A number of other institutional investors also recently bought and sold shares of the company. Millennium Management LLC raised its position 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 buying an additional 244,981 shares during the period. Divisadero Street Capital Management LP increased its stake in Fulgent Genetics by 46.4% during the second quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock worth $9,912,000 after acquiring an additional 160,212 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Fulgent Genetics in the third quarter valued at $5,854,000. Invenomic Capital Management LP lifted its stake in shares of Fulgent Genetics by 98.9% in the 3rd quarter. Invenomic Capital Management LP now owns 249,747 shares of the company’s stock valued at $5,427,000 after purchasing an additional 124,185 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Fulgent Genetics by 37.6% during the 2nd 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 period. 48.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FLGT shares. Piper Sandler dropped their price target on shares of 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 downgraded shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

Fulgent Genetics Trading Up 4.4 %

FLGT opened at $20.97 on Tuesday. The stock’s 50-day moving average price is $19.63 and its 200 day moving average price is $21.02. Fulgent Genetics, Inc. has a 12-month low of $16.56 and a 12-month high of $30.68. The firm has a market cap of $641.47 million, a price-to-earnings ratio of -3.80 and a beta of 1.42.

Insider Transactions at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,227 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $18.26, for a total transaction of $40,665.02. Following the sale, the chief executive officer now directly owns 703,711 shares of the company’s stock, valued at $12,849,762.86. This represents a 0.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 3,413 shares of company stock valued at $62,321. 32.66% of the stock is currently owned by corporate insiders.

Fulgent Genetics Profile

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.