Fulgent Genetics, Inc. (NASDAQ:FLGT) Short Interest Up 5.6% in October

Fulgent Genetics, Inc. (NASDAQ:FLGT) was the recipient of a significant growth in short interest in 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 daily volume of 145,900 shares, the short-interest ratio is presently 4.6 days. Approximately 3.4% of the shares of the stock are sold short.

Insiders Place Their Bets

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 transaction of $52,805.79. Following the transaction, the chief executive officer now directly owns 707,275 shares in the company, valued at approximately $16,147,088.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 4,324 shares of company stock worth $98,717 over the last ninety days. Company insiders own 31.76% of the company’s stock.

Hedge Funds Weigh In On Fulgent Genetics

Hedge funds have recently modified their holdings of the stock. Asset Dedication LLC purchased a new position in Fulgent Genetics during the 2nd quarter worth approximately $33,000. nVerses Capital LLC purchased a new position in shares of Fulgent Genetics during the second quarter valued at $43,000. Signaturefd LLC lifted its stake in Fulgent Genetics by 103.6% in the 2nd quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock worth $44,000 after acquiring an additional 1,132 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Fulgent Genetics in the 2nd quarter worth about $63,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Fulgent Genetics during the 1st quarter worth about $178,000. 48.06% of the stock is currently owned by institutional investors and hedge funds.

Fulgent Genetics Price Performance

Shares of FLGT opened at $21.61 on Friday. The firm’s 50 day moving average is $21.15 and its 200-day moving average is $21.39. Fulgent Genetics has a 12-month low of $18.76 and a 12-month high of $30.68. The stock has a market capitalization of $654.78 million, a P/E ratio of -3.94 and a beta of 1.50.

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

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.