Inlight Wealth Management LLC Acquires New Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Inlight Wealth Management LLC bought a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 37,088 shares of the company’s stock, valued at approximately $685,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FLGT. Legal & General Group Plc raised its holdings in Fulgent Genetics by 5.2% in the 4th quarter. Legal & General Group Plc now owns 98,077 shares of the company’s stock worth $1,811,000 after acquiring an additional 4,883 shares during the last quarter. Invesco Ltd. raised its stake in shares of Fulgent Genetics by 14.0% in the fourth quarter. Invesco Ltd. now owns 181,714 shares of the company’s stock worth $3,356,000 after purchasing an additional 22,301 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Fulgent Genetics by 4.4% during the fourth quarter. Federated Hermes Inc. now owns 41,882 shares of the company’s stock valued at $774,000 after purchasing an additional 1,774 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Fulgent Genetics by 267.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company’s stock valued at $50,000 after buying an additional 1,960 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Fulgent Genetics by 15.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 15,129 shares of the company’s stock valued at $280,000 after buying an additional 1,995 shares during the last quarter. Institutional investors own 48.06% of the company’s stock.

Insiders Place Their Bets

In other Fulgent Genetics news, CFO Paul Kim bought 100,000 shares of Fulgent Genetics stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $15.96 per share, with a total value of $1,596,000.00. Following the completion of the acquisition, the chief financial officer now owns 348,282 shares in the company, valued at approximately $5,558,580.72. This represents a 40.28 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 31.76% of the company’s stock.

Fulgent Genetics Price Performance

FLGT stock opened at $17.33 on Friday. The company has a market cap of $534.91 million, a P/E ratio of -3.14 and a beta of 1.36. Fulgent Genetics, Inc. has a 1 year low of $14.57 and a 1 year high of $25.11. The stock’s fifty day moving average price is $16.85 and its 200-day moving average price is $18.31.

Analysts Set New Price Targets

FLGT has been the subject of a number of recent analyst reports. StockNews.com raised Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Piper Sandler decreased their price objective on shares of Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th.

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.