Fulgent Genetics, Inc. (NASDAQ:FLGT) Short Interest Up 19.6% in March

Fulgent Genetics, Inc. (NASDAQ:FLGT) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 1,650,000 shares, a growth of 19.6% from the February 28th total of 1,380,000 shares. Approximately 8.3% of the company’s stock are short sold. Based on an average trading volume of 407,500 shares, the short-interest ratio is currently 4.0 days.

Wall Street Analysts Forecast Growth

FLGT has been the subject of several research analyst reports. Piper Sandler reduced their target price on Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. StockNews.com upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th.

Insider Activity

In other Fulgent Genetics news, CFO Paul Kim purchased 100,000 shares of Fulgent Genetics stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $15.96 per share, with a total value of $1,596,000.00. Following the completion of the acquisition, the chief financial officer now owns 348,282 shares of the company’s stock, valued at approximately $5,558,580.72. This trade represents a 40.28 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 32.66% of the company’s stock.

Institutional Trading of Fulgent Genetics

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Fulgent Genetics by 45.5% during the 4th quarter. GAMMA Investing LLC now owns 2,133 shares of the company’s stock valued at $39,000 after buying an additional 667 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Fulgent Genetics during the 3rd quarter worth approximately $46,000. Russell Investments Group Ltd. lifted its holdings in shares of Fulgent Genetics by 267.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,693 shares of the company’s stock worth $50,000 after purchasing an additional 1,960 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Fulgent Genetics during the 4th quarter valued at approximately $57,000. Finally, State of Wyoming bought a new position in shares of Fulgent Genetics during the fourth quarter worth about $57,000. Institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Stock Performance

Shares of NASDAQ FLGT traded up $0.31 during trading on Wednesday, reaching $17.62. The stock had a trading volume of 395,583 shares, compared to its average volume of 246,192. The stock has a market cap of $543.86 million, a PE ratio of -3.19 and a beta of 1.54. Fulgent Genetics has a one year low of $14.57 and a one year high of $25.11. The firm’s 50 day moving average price is $16.80 and its two-hundred day moving average price is $18.57.

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.