Assetmark Inc. Reduces Stake in Fulgent Genetics by 42.3%: SEC Disclosure

On June 2, 2023, Assetmark Inc. disclosed to the Securities and Exchange Commission (SEC) its reduced holding in Fulgent Genetics, Inc. The reduction in holdings amounted to a significant decline of 42.3% during the fourth quarter of the previous year.

According to the disclosure, Assetmark Inc.’s stake in Fulgent Genetics now totals 9,068 shares after selling 6,646 shares. The value of their holdings at the end of last quarter was $270,000.

Investors eager to learn more about the activities of Fulgent Genetics and other hedge funds are encouraged to visit HoldingsChannel.com for up-to-date information on recent insider deals and new filings.

Fulgent Genetics Inc., a company publicly traded under the NASDAQ ticker symbol FLGT, showed an opening share price of $40.70 on Friday. By comparison, its fifty-two-week low is $28.27 while it hit its fifty-two-week high at $65.17.

Market watchers should note that Fulgent Genetic’s 50-day moving average is priced at $33.09 while its 200-day moving average is valued at $32.99.

While assets and stock values ​​are often subject to change depending on various factors such as market sentiment and industry trends, these numbers provide a glimpse into Assetmark’s disposition towards FLGT in recent quarters.

Bottom line, investors should regularly monitor reports of SEC disclosures about companies they trust with their portfolio investments as it could affect their holdings and overall return, a prudent practice for many savvy investors to ensure profitability. long term and the growth potential of their businesses.

FLGT extension

Neutral

Updated on: 03/06/2023

Price target

Current $40.33

Consent $45.00


Bass $40.00

Median $45.00

High $50.00

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Social Feelings

10:00 AM (UTC)

Date: June 02, 2023

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Analyst ratings

Analyst / company Assessment
Piper Sandler Sell
Raymond James Acquire
Credit Suisse Acquire

David Westenberg
Piper Sandler

Acquire

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Institutional Investors, Hedge Funds Increase Holding in Fulgent Genetics Inc. Following Better Than Expected Quarterly Earnings Report


Fulgent Genetics Inc., a California-based technology company, has recently seen an increase in the number of institutional investors and hedge funds buying shares of its stock. This comes after the company reported better-than-expected quarterly earnings on May 5, with revenue topping analyst estimates. Dimensional Fund Advisors LP, BlackRock Inc., Renaissance Technologies LLC, Pacer Advisors Inc. and Goldman Sachs Group Inc. are among institutional investors who recently increased their stake in Fulgent Genetics by purchasing additional shares; collectively, they now own 43.22% of the company’s shares.

As a result of these purchases by hedge funds and other institutional investors, several brokerages have released reports on FLGT, and its consensus price target is currently $42.33. Two investment analysts rated the stock a hold while two others issued a buy rating.

Fulgent Genetics was founded in 2016 by Ming Hsieh and offers genetic testing and sequencing solutions including gene and panel testing, known mutation testing, hereditary cancer screening, carrier screening, and tumor profiling.

As of June 2, Fulgent Genetics had a market cap of $1.02 billion; it will be interesting to see how the recent surge in interest from institutional investors affects its future growth prospects in the rapidly growing field of genetic testing solutions.


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