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

Fulgent Genetics, Inc. (NASDAQ:FLGT) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 783,400 shares, a growth of 8.7% from the May 31st total of 720,900 shares. Based on an average daily volume of 159,300 shares, the short-interest ratio is currently 4.9 days. Approximately 4.1% of the company’s shares are short sold.

Institutional Investors Weigh In On Fulgent Genetics

Several institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Fulgent Genetics by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,261 shares of the company’s stock valued at $310,000 after acquiring an additional 3,458 shares during the period. EntryPoint Capital LLC grew its stake in shares of Fulgent Genetics by 15,067.0% in the first quarter. EntryPoint Capital LLC now owns 15,622 shares of the company’s stock worth $339,000 after purchasing an additional 15,519 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Fulgent Genetics by 11.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,103 shares of the company’s stock valued at $631,000 after purchasing an additional 2,879 shares during the period. Acadian Asset Management LLC bought a new position in Fulgent Genetics during the 1st quarter valued at approximately $195,000. Finally, Vanguard Group Inc. lifted its holdings in Fulgent Genetics by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,424,448 shares of the company’s stock worth $30,911,000 after buying an additional 8,257 shares during the period. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their target price on shares of Fulgent Genetics from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th.

Fulgent Genetics Trading Down 0.8 %

Shares of NASDAQ FLGT traded down $0.17 during midday trading on Tuesday, reaching $19.87. The company had a trading volume of 27,831 shares, compared to its average volume of 186,719. Fulgent Genetics has a one year low of $18.91 and a one year high of $44.09. The firm’s fifty day moving average price is $20.82 and its 200-day moving average price is $23.36.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings data on Friday, May 3rd. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.20. The firm had revenue of $64.49 million during the quarter, compared to the consensus estimate of $65.74 million. Fulgent Genetics had a negative return on equity of 2.92% and a negative net margin of 57.72%. As a group, sell-side analysts forecast that Fulgent Genetics will post -2.12 EPS for the current 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.