Short Interest in Fulgent Genetics, Inc. (NASDAQ:FLGT) Rises By 5.6%

Fulgent Genetics, Inc. (NASDAQ:FLGT) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 676,100 shares, a growth of 5.6% from the September 30th total of 640,100 shares. Based on an average trading volume of 145,900 shares, the short-interest ratio is currently 4.6 days. Approximately 3.4% of the company’s shares are short sold.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock traded down $0.09 during trading on Friday, hitting $21.36. 21,158 shares of the stock were exchanged, compared to its average volume of 176,089. The firm’s 50-day moving average price is $21.20 and its 200 day moving average price is $21.39. Fulgent Genetics has a 12-month low of $18.76 and a 12-month high of $30.68.

Fulgent Genetics (NASDAQ:FLGT) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.45. Fulgent Genetics had a negative net margin of 56.22% and a negative return on equity of 2.75%. The company had revenue of $71.03 million for the quarter, compared to analysts’ expectations of $69.07 million. During the same quarter last year, the company earned ($0.33) earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts expect that Fulgent Genetics will post -1.46 EPS for the current fiscal year.

Insider Activity at Fulgent Genetics

In other news, CEO Ming Hsieh sold 2,313 shares of Fulgent Genetics stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $22.83, for a total value of $52,805.79. Following the completion of the sale, the chief executive officer now directly owns 707,275 shares of the company’s stock, valued at approximately $16,147,088.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 4,324 shares of company stock worth $98,717. Insiders own 31.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Fulgent Genetics by 98.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,792 shares of the company’s stock worth $1,883,000 after buying an additional 42,998 shares in the last quarter. Caxton Associates LP purchased a new position in Fulgent Genetics in the 2nd quarter valued at approximately $492,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Fulgent Genetics during the 1st quarter worth $213,000. Divisadero Street Capital Management LP lifted its stake in Fulgent Genetics by 46.4% in the 2nd quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock valued at $9,912,000 after buying an additional 160,212 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in Fulgent Genetics by 46.1% in the 2nd quarter. Algert Global LLC now owns 81,440 shares of the company’s stock valued at $1,598,000 after purchasing an additional 25,680 shares in the last quarter. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

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.