Amundi Grows Stake in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Amundi raised its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 143.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,816 shares of the company’s stock after purchasing an additional 5,199 shares during the quarter. Amundi’s holdings in Fulgent Genetics were worth $166,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Aigen Investment Management LP purchased a new position in Fulgent Genetics in the fourth quarter valued at about $217,000. Proficio Capital Partners LLC purchased a new position in Fulgent Genetics in the fourth quarter valued at about $411,000. Wealthspire Advisors LLC purchased a new position in Fulgent Genetics in the fourth quarter valued at about $186,000. TCW Group Inc. raised its position in Fulgent Genetics by 2.7% in the fourth quarter. TCW Group Inc. now owns 123,400 shares of the company’s stock valued at $2,279,000 after purchasing an additional 3,300 shares during the period. Finally, Principal Financial Group Inc. raised its position in Fulgent Genetics by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 97,926 shares of the company’s stock valued at $1,809,000 after purchasing an additional 3,615 shares during the period. 48.06% of the stock is owned by hedge funds and other institutional investors.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock opened at $17.09 on Friday. The business has a 50-day moving average of $16.84 and a 200-day moving average of $18.84. The company has a market capitalization of $526.87 million, a PE ratio of -3.10 and a beta of 1.54. Fulgent Genetics, Inc. has a 1-year low of $14.57 and a 1-year high of $25.11.

Analyst Ratings Changes

FLGT has been the topic of several research reports. StockNews.com raised Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Piper Sandler lowered their target price on Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th.

Insider Activity

In other Fulgent Genetics news, CFO Paul Kim bought 100,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the purchase, the chief financial officer now directly owns 348,282 shares of the company’s stock, valued at approximately $5,558,580.72. The trade was a 40.28 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 31.76% of the company’s stock.

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.