PNC Financial Services Group Inc. Sells 2,046 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

PNC Financial Services Group Inc. lessened its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 56.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,599 shares of the company’s stock after selling 2,046 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Fulgent Genetics were worth $30,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FLGT. Point72 Asset Management L.P. bought a new stake in Fulgent Genetics during the 3rd quarter valued at approximately $5,854,000. JPMorgan Chase & Co. raised its position in shares of Fulgent Genetics by 113.2% during the third quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock valued at $7,346,000 after buying an additional 179,477 shares during the last quarter. Invenomic Capital Management LP lifted its holdings in shares of Fulgent Genetics by 98.9% in the third quarter. Invenomic Capital Management LP now owns 249,747 shares of the company’s stock worth $5,427,000 after buying an additional 124,185 shares in the last quarter. Peapod Lane Capital LLC bought a new position in shares of Fulgent Genetics during the fourth quarter worth $2,022,000. Finally, Barclays PLC grew its stake in Fulgent Genetics by 22.6% during the third quarter. Barclays PLC now owns 174,855 shares of the company’s stock valued at $3,800,000 after acquiring an additional 32,250 shares in the last quarter. 48.06% of the stock is owned by institutional investors.

Insider Activity at Fulgent Genetics

In other Fulgent Genetics news, CFO Paul Kim acquired 100,000 shares of Fulgent Genetics stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $15.96 per share, with a total value 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. This represents a 40.28 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on FLGT shares. StockNews.com raised shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Piper Sandler decreased their target price on Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT opened at $16.85 on Friday. Fulgent Genetics, Inc. has a 1 year low of $14.57 and a 1 year high of $25.11. The firm has a 50-day simple moving average of $16.81 and a two-hundred day simple moving average of $18.71. The company has a market cap of $519.47 million, a P/E ratio of -3.05 and a beta of 1.54.

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.