Public Employees Retirement System of Ohio Invests $1.13 Million in Fulgent Genetics, Inc. $FLGT

Public Employees Retirement System of Ohio acquired a new stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 55,247 shares of the company’s stock, valued at approximately $1,134,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FLGT. Allworth Financial LP bought a new stake in Fulgent Genetics during the second quarter worth about $25,000. Kestra Advisory Services LLC acquired a new position in shares of Fulgent Genetics during the 4th quarter worth approximately $35,000. Legal & General Group Plc acquired a new position in shares of Fulgent Genetics during the 2nd quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Fulgent Genetics by 214.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock worth $48,000 after purchasing an additional 1,251 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Fulgent Genetics during the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

Insiders Place Their Bets

In other Fulgent Genetics news, insider Hanlin Gao sold 1,673 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total value of $32,891.18. Following the transaction, the insider directly owned 986,117 shares in the company, valued at $19,387,060.22. The trade was a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,127 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $19.66, for a total transaction of $41,816.82. Following the completion of the transaction, the chief operating officer directly owned 359,924 shares in the company, valued at $7,076,105.84. The trade was a 0.59% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 5,932 shares of company stock worth $117,156. 36.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FLGT shares. Weiss Ratings raised shares of Fulgent Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 27th. Wall Street Zen raised shares of Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. Finally, Piper Sandler increased 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 research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.50.

Fulgent Genetics Stock Up 2.4%

Shares of NASDAQ FLGT opened at $20.20 on Wednesday. The business’s 50 day moving average price is $19.68 and its two-hundred day moving average price is $17.94. The company has a market cap of $555.70 million, a PE ratio of -7.16 and a beta of 0.93. Fulgent Genetics, Inc. has a twelve month low of $13.46 and a twelve month high of $31.04.

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

Fulgent Genetics Company 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.