Park West Asset Management LLC Lowers Stake in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Park West Asset Management LLC lowered its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 641,682 shares of the company’s stock after selling 71,902 shares during the quarter. Park West Asset Management LLC owned 2.10% of Fulgent Genetics worth $11,852,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Fulgent Genetics by 45.5% during the 4th quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock valued at $39,000 after purchasing an additional 667 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Fulgent Genetics by 267.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company’s stock valued at $50,000 after purchasing an additional 1,960 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Fulgent Genetics during the 4th quarter valued at about $57,000. R Squared Ltd purchased a new position in Fulgent Genetics during the 4th quarter valued at about $74,000. Finally, Headlands Technologies LLC purchased a new position in Fulgent Genetics during the 4th quarter valued at about $120,000. Institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Stock Performance

NASDAQ FLGT opened at $18.53 on Tuesday. The company has a market capitalization of $571.95 million, a PE ratio of -3.36 and a beta of 1.36. The business’s fifty day moving average is $17.32 and its 200 day moving average is $18.12. Fulgent Genetics, Inc. has a fifty-two week low of $14.57 and a fifty-two week high of $25.11.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FLGT. Piper Sandler decreased their target price 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. StockNews.com upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th.

Insider Activity at Fulgent Genetics

In other Fulgent Genetics news, CFO Paul Kim purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were 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 directly owns 348,282 shares in the company, valued at $5,558,580.72. The trade was a 40.28 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 31.76% of the stock is owned by company insiders.

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.