William Blair Investment Management LLC Acquires 60,508 Shares of Fulgent Genetic (FLGT)
William Blair Investment Management LLC raised its stake in Fulgent Genetic (NASDAQ:FLGT) by 10.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 640,219 shares of the company’s stock after buying an additional 60,508 shares during the period. William Blair Investment Management LLC owned about 3.62% of Fulgent Genetic worth $4,091,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN boosted its position in shares of Fulgent Genetic by 2,046.0% in the first quarter. Wells Fargo & Company MN now owns 10,730 shares of the company’s stock valued at $118,000 after buying an additional 10,230 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Fulgent Genetic during the first quarter valued at about $122,000. Blair William & Co. IL acquired a new position in shares of Fulgent Genetic during the first quarter valued at about $287,000. Finally, Scholtz & Company LLC boosted its position in shares of Fulgent Genetic by 50.3% in the first quarter. Scholtz & Company LLC now owns 266,705 shares of the company’s stock valued at $2,912,000 after buying an additional 89,205 shares in the last quarter. 20.09% of the stock is currently owned by institutional investors.
Fulgent Genetic (NASDAQ FLGT) opened at 5.22 on Friday. The firm’s market cap is $92.60 million. The stock has a 50 day moving average of $6.12 and a 200 day moving average of $8.38. Fulgent Genetic has a 52 week low of $4.49 and a 52 week high of $13.90.
Fulgent Genetic (NASDAQ:FLGT) last posted its quarterly earnings data on Monday, August 7th. The company reported $0.02 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.02. The company had revenue of $4.64 million for the quarter, compared to analyst estimates of $5.03 million. Fulgent Genetic had a negative return on equity of 0.02% and a negative net margin of 0.42%. Analysts anticipate that Fulgent Genetic will post $0.14 EPS for the current year.
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FLGT has been the topic of several recent research reports. Zacks Investment Research cut shares of Fulgent Genetic from a “hold” rating to a “sell” rating in a research note on Friday, May 12th. Credit Suisse Group lowered their price objective on shares of Fulgent Genetic from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 8th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Fulgent Genetic in a research note on Wednesday, August 9th.
In other Fulgent Genetic news, CFO Paul Kim sold 6,134 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $5.71, for a total value of $35,025.14. Following the transaction, the chief financial officer now directly owns 388,602 shares of the company’s stock, valued at $2,218,917.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ming Hsieh purchased 20,000 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was acquired at an average cost of $5.26 per share, for a total transaction of $105,200.00. Following the completion of the purchase, the insider now owns 6,482,244 shares of the company’s stock, valued at approximately $34,096,603.44. The disclosure for this purchase can be found here.
Fulgent Genetic Company Profile
Fulgent Genetics, Inc is a technology company. The Company offers genetic testing to provide physicians with clinically actionable diagnostic information to improve quality of patient care. The Company has developed a technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes.
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