JPMorgan Chase & Co. Buys 264,524 Shares of Fulgent Genetics, Inc. $FLGT

JPMorgan Chase & Co. increased its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 767.0% in the 3rd quarter, Holdings Channel reports. The fund owned 299,014 shares of the company’s stock after buying an additional 264,524 shares during the quarter. JPMorgan Chase & Co.’s holdings in Fulgent Genetics were worth $6,758,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FLGT. Millennium Management LLC increased its position in shares of Fulgent Genetics by 1.8% during the 3rd quarter. Millennium Management LLC now owns 1,468,844 shares of the company’s stock valued at $33,196,000 after purchasing an additional 26,582 shares during the last quarter. Vanguard Group Inc. boosted its stake in Fulgent Genetics by 1.1% in the third quarter. Vanguard Group Inc. now owns 1,179,254 shares of the company’s stock worth $26,651,000 after buying an additional 13,295 shares in the last quarter. Geode Capital Management LLC grew its position in Fulgent Genetics by 1.6% during the second quarter. Geode Capital Management LLC now owns 513,343 shares of the company’s stock valued at $10,207,000 after acquiring an additional 8,105 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Fulgent Genetics by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock worth $3,428,000 after acquiring an additional 45,279 shares in the last quarter. Finally, Diametric Capital LP purchased a new position in shares of Fulgent Genetics during the second quarter worth approximately $3,359,000. Institutional investors own 48.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FLGT shares. Zacks Research cut shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fulgent Genetics in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.00.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock opened at $15.90 on Wednesday. Fulgent Genetics, Inc. has a one year low of $13.46 and a one year high of $31.04. The business’s 50 day simple moving average is $20.35 and its two-hundred day simple moving average is $23.84. The stock has a market capitalization of $496.57 million, a P/E ratio of -8.11 and a beta of 0.94.

Fulgent Genetics (NASDAQ:FLGT) last released its quarterly earnings data on Friday, February 27th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. Fulgent Genetics had a negative return on equity of 2.22% and a negative net margin of 18.75%.The firm had revenue of $83.34 million during the quarter, compared to analyst estimates of $85.38 million. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. Sell-side analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current fiscal year.

About Fulgent Genetics

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.