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

Fulgent Genetics, Inc. (NASDAQ:FLGT) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 1,300,000 shares, an increase of 23.8% from the January 31st total of 1,050,000 shares. Approximately 6.5% of the company’s shares are sold short. Based on an average trading volume of 255,400 shares, the short-interest ratio is presently 5.1 days.

Insider Activity at Fulgent Genetics

In other news, CFO Paul Kim acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the acquisition, the chief financial officer now owns 348,282 shares in the company, valued at $5,558,580.72. This trade represents a 40.28 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.76% of the stock is currently owned by company insiders.

Institutional Trading of Fulgent Genetics

Several institutional investors have recently bought and sold shares of the company. Creative Planning lifted its stake in shares of Fulgent Genetics by 45.1% in the third quarter. Creative Planning now owns 25,999 shares of the company’s stock worth $565,000 after buying an additional 8,075 shares in the last quarter. Easterly Investment Partners LLC purchased a new position in Fulgent Genetics in the 3rd quarter worth approximately $208,000. Empowered Funds LLC lifted its position in Fulgent Genetics by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 90,402 shares of the company’s stock valued at $1,964,000 after acquiring an additional 4,556 shares in the last quarter. Gladius Capital Management LP purchased a new stake in Fulgent Genetics during the 3rd quarter valued at $81,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Fulgent Genetics during the 3rd quarter valued at $303,000. 48.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on FLGT. Piper Sandler cut their price objective on shares of Fulgent Genetics from $22.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday. StockNews.com upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday.

Fulgent Genetics Price Performance

Shares of NASDAQ:FLGT opened at $17.90 on Friday. The business has a fifty day moving average price of $17.14 and a 200-day moving average price of $19.29. The company has a market capitalization of $547.51 million, a PE ratio of -3.24 and a beta of 1.39. Fulgent Genetics has a 1-year low of $14.57 and a 1-year high of $25.11.

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.