Fulgent Genetics, Inc. (NASDAQ:FLGT) Sees Significant Growth in Short Interest

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

Fulgent Genetics Stock Up 0.3 %

FLGT traded up $0.05 on Wednesday, hitting $18.47. The company had a trading volume of 178,885 shares, compared to its average volume of 194,712. The company has a market cap of $564.94 million, a PE ratio of -3.35 and a beta of 1.42. Fulgent Genetics has a 12-month low of $16.56 and a 12-month high of $29.91. The business’s fifty day simple moving average is $19.26 and its 200 day simple moving average is $20.85.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FLGT. Piper Sandler decreased their price target on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. StockNews.com cut Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

Insider Transactions at Fulgent Genetics

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,227 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 directly owns 703,711 shares in the company, valued at $12,849,762.86. This represents a 0.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 3,413 shares of company stock worth $62,321 in the last three months. Corporate insiders own 31.76% of the company’s stock.

Institutional Trading of Fulgent Genetics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of Fulgent Genetics by 0.9% during 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 during the last quarter. Signaturefd LLC boosted its stake in shares of Fulgent Genetics by 103.6% during 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. Marquette Asset Management LLC grew its position in shares of Fulgent Genetics by 13.7% during the 3rd quarter. Marquette Asset Management LLC now owns 9,908 shares of the company’s stock valued at $215,000 after acquiring an additional 1,191 shares during the period. Asset Dedication LLC purchased a new position in shares of Fulgent Genetics in the 2nd quarter valued at about $33,000. Finally, Centiva Capital LP raised its holdings in Fulgent Genetics by 16.5% in the 3rd quarter. Centiva Capital LP now owns 12,538 shares of the company’s stock worth $272,000 after purchasing an additional 1,774 shares during the period. 48.06% of the stock is currently owned by 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.