Citigroup Inc. Sells 6,418 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

Citigroup Inc. cut its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 40.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,538 shares of the company’s stock after selling 6,418 shares during the quarter. Citigroup Inc.’s holdings in Fulgent Genetics were worth $255,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of Fulgent Genetics by 318.5% during the first quarter. JPMorgan Chase & Co. now owns 78,457 shares of the company’s stock valued at $4,896,000 after buying an additional 59,711 shares during the period. Raymond James & Associates raised its stake in shares of Fulgent Genetics by 42.9% during the first quarter. Raymond James & Associates now owns 14,944 shares of the company’s stock valued at $933,000 after acquiring an additional 4,486 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Fulgent Genetics by 25.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 24,905 shares of the company’s stock valued at $1,554,000 after acquiring an additional 5,106 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Fulgent Genetics by 7.6% during the first quarter. Bank of Montreal Can now owns 6,551 shares of the company’s stock valued at $410,000 after acquiring an additional 461 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Fulgent Genetics by 58.5% during the first quarter. MetLife Investment Management LLC now owns 11,756 shares of the company’s stock valued at $734,000 after acquiring an additional 4,339 shares in the last quarter. 48.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on FLGT. UBS Group began coverage on shares of Fulgent Genetics in a research note on Thursday, December 7th. They issued a “neutral” rating and a $35.00 price objective for the company. Piper Sandler reduced their price target on Fulgent Genetics from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th.

Fulgent Genetics Price Performance

NASDAQ FLGT opened at $21.69 on Thursday. The stock’s fifty day moving average price is $24.17 and its 200 day moving average price is $26.19. Fulgent Genetics, Inc. has a 1 year low of $21.23 and a 1 year high of $44.09. The company has a market cap of $645.93 million, a price-to-earnings ratio of -3.85 and a beta of 1.45.

Fulgent Genetics (NASDAQ:FLGT) last released its earnings results on Wednesday, February 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.61. The firm had revenue of $70.51 million for the quarter, compared to the consensus estimate of $67.14 million. Fulgent Genetics had a negative return on equity of 3.04% and a negative net margin of 58.03%. Research analysts expect that Fulgent Genetics, Inc. will post -2.04 earnings per share for the current year.

Fulgent Genetics 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.