Fulgent Genetics, Inc. (NASDAQ:FLGT) Short Interest Update

Fulgent Genetics, Inc. (NASDAQ:FLGT) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 821,300 shares, an increase of 9.7% from the November 30th total of 748,900 shares. Based on an average daily trading volume, of 225,000 shares, the short-interest ratio is currently 3.7 days. Currently, 4.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FLGT. Piper Sandler decreased their price target on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, November 11th. StockNews.com cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock opened at $18.47 on Thursday. The firm has a fifty day moving average price of $19.24 and a 200 day moving average price of $20.83. Fulgent Genetics has a 1 year low of $16.56 and a 1 year high of $29.91. The stock has a market cap of $564.94 million, a PE ratio of -3.35 and a beta of 1.42.

Insiders Place Their Bets

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $18.26, for a total value of $40,665.02. Following the completion of the transaction, the chief executive officer now owns 703,711 shares of the company’s stock, valued at approximately $12,849,762.86. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 3,413 shares of company stock valued at $62,321. Insiders own 31.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Fulgent Genetics by 37.6% in the second quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company’s stock valued at $3,948,000 after buying an additional 55,020 shares in the last quarter. Signaturefd LLC increased its holdings in Fulgent Genetics by 103.6% in the second quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock valued at $44,000 after buying an additional 1,132 shares in the last quarter. nVerses Capital LLC purchased a new position in Fulgent Genetics in the second quarter valued at $43,000. Rhumbline Advisers increased its holdings in Fulgent Genetics by 0.9% in the second quarter. Rhumbline Advisers now owns 68,210 shares of the company’s stock valued at $1,338,000 after buying an additional 637 shares in the last quarter. Finally, Acuitas Investments LLC purchased a new position in Fulgent Genetics in the second quarter valued at $962,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

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.