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

Fulgent Genetics, Inc. (NASDAQ:FLGT) was the recipient of a large increase in short interest in 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 trading volume of 225,000 shares, the short-interest ratio is presently 3.7 days. Currently, 4.1% of the shares of the company are short sold.

Insider Activity

In other news, CEO Ming Hsieh sold 2,227 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $18.26, for a total transaction of $40,665.02. Following the completion of the sale, the chief executive officer now owns 703,711 shares of the company’s stock, valued at $12,849,762.86. The trade was a 0.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 3,413 shares of company stock valued at $62,321 in the last 90 days. Company insiders own 31.76% of the company’s stock.

Institutional Trading of Fulgent Genetics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of Fulgent Genetics during the third quarter worth approximately $5,854,000. Millennium Management LLC increased its position in shares of Fulgent Genetics by 34.3% during the second quarter. Millennium Management LLC now owns 958,852 shares of the company’s stock worth $18,813,000 after acquiring an additional 244,981 shares during the period. JPMorgan Chase & Co. increased its position in shares of Fulgent Genetics by 113.2% during the third quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company’s stock worth $7,346,000 after acquiring an additional 179,477 shares during the period. Divisadero Street Capital Management LP increased its position in shares of Fulgent Genetics by 46.4% during the second quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock worth $9,912,000 after acquiring an additional 160,212 shares during the period. Finally, Invenomic Capital Management LP increased its position in shares of Fulgent Genetics by 98.9% during the third quarter. Invenomic Capital Management LP now owns 249,747 shares of the company’s stock worth $5,427,000 after acquiring an additional 124,185 shares during the period. 48.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on FLGT shares. Piper Sandler dropped their target price 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 downgraded shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

Fulgent Genetics Trading Up 0.3 %

Shares of NASDAQ FLGT opened at $18.47 on Thursday. Fulgent Genetics has a 12-month low of $16.56 and a 12-month high of $29.91. The stock has a market capitalization of $564.94 million, a price-to-earnings ratio of -3.35 and a beta of 1.42. The firm’s 50-day moving average price is $19.24 and its 200-day moving average price is $20.83.

Fulgent Genetics Company Profile

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.