Peapod Lane Capital LLC Takes Position in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Peapod Lane Capital LLC purchased a new position in Fulgent Genetics, Inc. (NASDAQ:FLGT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 109,459 shares of the company’s stock, valued at approximately $2,022,000. Fulgent Genetics accounts for 2.0% of Peapod Lane Capital LLC’s investment portfolio, making the stock its 18th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp grew its stake in Fulgent Genetics by 1.4% during the third quarter. State Street Corp now owns 793,545 shares of the company’s stock worth $17,244,000 after buying an additional 10,868 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Fulgent Genetics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 502,869 shares of the company’s stock worth $10,930,000 after acquiring an additional 13,320 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Fulgent Genetics by 113.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock worth $7,346,000 after acquiring an additional 179,477 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Fulgent Genetics in the third quarter valued at approximately $5,854,000. Finally, Invenomic Capital Management LP raised its position in Fulgent Genetics by 98.9% during the third quarter. Invenomic Capital Management LP now owns 249,747 shares of the company’s stock valued at $5,427,000 after purchasing an additional 124,185 shares in the last quarter. Institutional investors and hedge funds own 48.06% of the company’s stock.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $18.26, for a total value of $40,665.02. Following the completion of the transaction, the chief executive officer now directly owns 703,711 shares in the company, valued at approximately $12,849,762.86. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 3,413 shares of company stock worth $62,321 over the last quarter. Corporate insiders own 31.76% of the company’s stock.

Fulgent Genetics Stock Down 0.3 %

Shares of Fulgent Genetics stock opened at $16.22 on Thursday. The firm’s 50 day moving average is $18.14 and its 200 day moving average is $20.11. Fulgent Genetics, Inc. has a 1 year low of $15.99 and a 1 year high of $26.36.

Analyst Ratings Changes

FLGT has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. StockNews.com lowered Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

Fulgent Genetics Company Profile

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.