Franklin Resources Inc. Acquires Shares of 10,548 Fulgent Genetics, Inc. (NASDAQ:FLGT)

Franklin Resources Inc. bought a new position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 10,548 shares of the company’s stock, valued at approximately $215,000.

A number of other large investors have also recently made changes to their positions in the stock. Caxton Associates LP purchased a new stake in shares of Fulgent Genetics in the second quarter valued at approximately $492,000. BNP Paribas Financial Markets raised its position in Fulgent Genetics by 220.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 43,813 shares of the company’s stock valued at $952,000 after purchasing an additional 30,160 shares in the last quarter. Divisadero Street Capital Management LP lifted its holdings in shares of Fulgent Genetics by 46.4% in the 2nd quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock worth $9,912,000 after buying an additional 160,212 shares during the period. Algert Global LLC grew its position in shares of Fulgent Genetics by 46.1% during the 2nd quarter. Algert Global LLC now owns 81,440 shares of the company’s stock worth $1,598,000 after buying an additional 25,680 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Fulgent Genetics by 593.5% during the second quarter. Acadian Asset Management LLC now owns 62,724 shares of the company’s stock valued at $1,227,000 after buying an additional 53,680 shares during the period. 48.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fulgent Genetics

In other news, CEO Ming Hsieh sold 2,227 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.26, for a total value of $40,665.02. Following the sale, the chief executive officer now directly owns 703,711 shares in the company, valued at approximately $12,849,762.86. This trade represents a 0.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 3,413 shares of company stock valued at $62,321. Corporate insiders own 31.76% of the company’s stock.

Fulgent Genetics Stock Down 0.3 %

Fulgent Genetics stock opened at $18.42 on Friday. The firm has a market cap of $563.41 million, a P/E ratio of -3.34 and a beta of 1.42. The business has a fifty day moving average of $19.23 and a two-hundred day moving average of $20.81. Fulgent Genetics, Inc. has a twelve month low of $16.56 and a twelve month high of $29.30.

Wall Street Analyst Weigh In

FLGT has been the subject of a number of research reports. StockNews.com lowered shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Piper Sandler reduced their price target on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, November 11th.

Fulgent Genetics Company 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.