Fulgent Genetics, Inc. $FLGT Stake Lowered by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 78.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,000 shares of the company’s stock after selling 64,864 shares during the quarter. Renaissance Technologies LLC’s holdings in Fulgent Genetics were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in Fulgent Genetics by 69.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock valued at $35,000 after purchasing an additional 548 shares during the period. Kestra Advisory Services LLC bought a new stake in Fulgent Genetics in the fourth quarter valued at $35,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Fulgent Genetics by 214.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock valued at $48,000 after acquiring an additional 1,251 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Fulgent Genetics during the second quarter valued at $49,000. Finally, Quantbot Technologies LP bought a new position in shares of Fulgent Genetics during the third quarter worth about $61,000. Institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Stock Up 6.3%

FLGT stock opened at $19.74 on Thursday. The company has a 50-day simple moving average of $19.40 and a 200 day simple moving average of $18.36. The company has a market capitalization of $543.05 million, a P/E ratio of -7.00 and a beta of 0.90. Fulgent Genetics, Inc. has a fifty-two week low of $13.46 and a fifty-two week high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.12). The company had revenue of $85.39 million for the quarter, compared to the consensus estimate of $94.00 million. Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%.Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. Equities analysts anticipate that Fulgent Genetics, Inc. will post -3.48 EPS for the current year.

Insiders Place Their Bets

In other news, insider Hanlin Gao sold 1,688 shares of Fulgent Genetics stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $30,198.32. Following the transaction, the insider directly owned 990,374 shares in the company, valued at approximately $17,717,790.86. This trade represents a 0.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $38,391.94. Following the completion of the sale, the chief operating officer directly owned 367,605 shares in the company, valued at $6,576,453.45. This represents a 0.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 5,980 shares of company stock valued at $106,360. 36.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FLGT. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fulgent Genetics in a research report on Monday, July 6th. Wall Street Zen cut shares of Fulgent Genetics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Piper Sandler raised their price target on shares of Fulgent Genetics from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.50.

Fulgent Genetics Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.