Fulgent Genetics, Inc. (NASDAQ:FLGT) Short Interest Down 11.5% in September

Fulgent Genetics, Inc. (NASDAQ:FLGT) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 640,100 shares, a decline of 11.5% from the September 15th total of 723,200 shares. Approximately 3.2% of the company’s stock are sold short. Based on an average trading volume of 166,300 shares, the short-interest ratio is presently 3.8 days.

Insider Activity at Fulgent Genetics

In related news, CEO Ming Hsieh sold 2,313 shares of the business’s stock in a transaction dated 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 $16,147,088.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 4,324 shares of company stock worth $98,717 in the last quarter. Company insiders own 31.76% of the company’s stock.

Hedge Funds Weigh In On Fulgent Genetics

A number of hedge funds have recently bought and sold shares of the company. Creative Planning boosted its stake in shares of Fulgent Genetics by 45.1% in the 3rd quarter. Creative Planning now owns 25,999 shares of the company’s stock worth $565,000 after buying an additional 8,075 shares during the last quarter. Marquette Asset Management LLC lifted its holdings in Fulgent Genetics by 13.7% during the third quarter. Marquette Asset Management LLC now owns 9,908 shares of the company’s stock worth $215,000 after acquiring an additional 1,191 shares during the period. SG Americas Securities LLC boosted its position in Fulgent Genetics by 36.1% in the third quarter. SG Americas Securities LLC now owns 17,452 shares of the company’s stock worth $379,000 after purchasing an additional 4,626 shares during the last quarter. Algert Global LLC grew its stake 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 during the period. Finally, Millennium Management LLC increased its position in shares of Fulgent Genetics by 34.3% during the 2nd quarter. Millennium Management LLC now owns 958,852 shares of the company’s stock valued at $18,813,000 after purchasing an additional 244,981 shares during the last quarter. 48.06% of the stock is owned by hedge funds and other institutional investors.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT traded down $0.35 during mid-day trading on Thursday, reaching $19.75. 19,181 shares of the company’s stock traded hands, compared to its average volume of 176,883. The business has a 50-day simple moving average of $22.04 and a 200 day simple moving average of $21.50. The stock has a market cap of $591.00 million, a P/E ratio of -3.61 and a beta of 1.50. Fulgent Genetics has a 1-year low of $18.91 and a 1-year high of $30.68.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $71.03 million during the quarter, compared to analyst estimates of $69.07 million. During the same period in the previous year, the company posted ($0.33) EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Fulgent Genetics will post -1.46 earnings per share for the current fiscal year.

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.