Peapod Lane Capital LLC Buys Shares of 109,459 Fulgent Genetics, Inc. (NASDAQ:FLGT)

Peapod Lane Capital LLC purchased a new position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) during the fourth quarter, according to the company in its most recent disclosure 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 about 2.0% of Peapod Lane Capital LLC’s investment portfolio, making the stock its 18th biggest holding. Peapod Lane Capital LLC owned 0.36% of Fulgent Genetics at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FLGT. State Street Corp raised its holdings in Fulgent Genetics by 1.4% during the 3rd 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 during the period. Geode Capital Management LLC raised its holdings in shares of Fulgent Genetics by 2.7% during the third 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 during the period. JPMorgan Chase & Co. raised its holdings in shares of Fulgent Genetics by 113.2% during the third 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 during the period. Point72 Asset Management L.P. bought a new stake in Fulgent Genetics in the 3rd quarter valued at $5,854,000. Finally, Invenomic Capital Management LP boosted its stake in Fulgent Genetics by 98.9% in the 3rd quarter. Invenomic Capital Management LP now owns 249,747 shares of the company’s stock worth $5,427,000 after purchasing an additional 124,185 shares during the period. Institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Price Performance

Shares of FLGT stock opened at $16.22 on Thursday. Fulgent Genetics, Inc. has a 12 month low of $15.99 and a 12 month high of $26.36. The company’s fifty day simple moving average is $18.14 and its 200-day simple moving average is $20.11.

Insider Transactions at Fulgent Genetics

In other news, CEO Ming Hsieh sold 2,227 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.26, for a total transaction of $40,665.02. Following the sale, the chief executive officer now owns 703,711 shares in the company, valued at $12,849,762.86. This represents a 0.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 3,413 shares of company stock worth $62,321 in the last three months. Insiders own 31.76% of the company’s stock.

Analysts Set New Price Targets

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

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.