Alpha Paradigm Partners LLC Takes Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Alpha Paradigm Partners LLC purchased a new stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) in the second quarter, HoldingsChannel.com reports. The fund purchased 3,163 shares of the company’s stock, valued at approximately $292,000.

Several other institutional investors and hedge funds have also modified their holdings of FLGT. BlackRock Inc. increased its stake in shares of Fulgent Genetics by 18.2% during the 2nd quarter. BlackRock Inc. now owns 3,057,315 shares of the company’s stock worth $281,976,000 after purchasing an additional 471,185 shares in the last quarter. Morgan Stanley increased its stake in shares of Fulgent Genetics by 110.4% during the 1st quarter. Morgan Stanley now owns 558,200 shares of the company’s stock worth $53,934,000 after purchasing an additional 292,953 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Fulgent Genetics by 21.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,279,559 shares of the company’s stock worth $118,013,000 after purchasing an additional 228,044 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Fulgent Genetics by 97.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 332,257 shares of the company’s stock worth $30,645,000 after purchasing an additional 163,907 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Fulgent Genetics by 36.5% during the 1st quarter. Geode Capital Management LLC now owns 267,908 shares of the company’s stock worth $25,885,000 after purchasing an additional 71,596 shares in the last quarter. 36.07% of the stock is owned by institutional investors and hedge funds.

FLGT stock opened at $83.18 on Thursday. The stock has a market capitalization of $2.46 billion, a P/E ratio of 4.82 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.66 and a current ratio of 4.66. Fulgent Genetics, Inc. has a one year low of $30.05 and a one year high of $189.89. The company has a 50 day moving average price of $90.53 and a two-hundred day moving average price of $85.47.

Fulgent Genetics (NASDAQ:FLGT) last released its earnings results on Monday, August 9th. The company reported $2.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.54 by ($0.07). Fulgent Genetics had a return on equity of 78.71% and a net margin of 54.24%. The firm had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $197.34 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The firm’s revenue was up 789.4% on a year-over-year basis.

A number of research analysts have recently weighed in on FLGT shares. Credit Suisse Group raised their price objective on shares of Fulgent Genetics from $55.00 to $65.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 10th. Zacks Investment Research raised shares of Fulgent Genetics from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fulgent Genetics presently has a consensus rating of “Hold” and an average price target of $107.25.

In related news, COO Jian Xie sold 1,223 shares of Fulgent Genetics stock in a transaction on Monday, August 16th. The shares were sold at an average price of $95.12, for a total transaction of $116,331.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hanlin Gao sold 314 shares of Fulgent Genetics stock in a transaction on Monday, August 16th. The shares were sold at an average price of $95.12, for a total transaction of $29,867.68. The disclosure for this sale can be found here. Insiders have sold a total of 5,384 shares of company stock valued at $505,630 over the last three months. Corporate insiders own 31.00% of the company’s stock.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc is a technology company, which engages in the provision of gene testing and sequencing solutions. It offers genes and panels, known mutation, hereditary cancer, carrier screening, and tumor profiling solutions. The company was founded on May 13, 2016 and is headquartered in Temple City, CA.

Featured Story: Why does the United States have a lingering trade deficit?

Want to see what other hedge funds are holding FLGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fulgent Genetics, Inc. (NASDAQ:FLGT).

Institutional Ownership by Quarter for Fulgent Genetics (NASDAQ:FLGT)

Receive News & Ratings for Fulgent Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fulgent Genetics and related companies with MarketBeat.com's FREE daily email newsletter.