Fulgent Genetics, Inc. (NASDAQ:FLGT) Short Interest Up 5.6% in October

Fulgent Genetics, Inc. (NASDAQ:FLGT) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 676,100 shares, an increase of 5.6% from the September 30th total of 640,100 shares. Based on an average daily trading volume, of 145,900 shares, the days-to-cover ratio is presently 4.6 days. Currently, 3.4% of the company’s stock are sold short.

Insider Activity

In other Fulgent Genetics news, CEO Ming Hsieh sold 2,313 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $22.83, for a total value of $52,805.79. Following the transaction, the chief executive officer now owns 707,275 shares in the company, 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 through the SEC website. Over the last quarter, insiders sold 4,324 shares of company stock worth $98,717. 31.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Easterly Investment Partners LLC acquired a new stake in shares of Fulgent Genetics during the 3rd quarter worth approximately $208,000. Creative Planning grew its stake in Fulgent Genetics by 45.1% during 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 increased its position in Fulgent Genetics by 13.7% in the third quarter. Marquette Asset Management LLC now owns 9,908 shares of the company’s stock worth $215,000 after buying an additional 1,191 shares during the period. SG Americas Securities LLC increased 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 buying an additional 4,626 shares during the period. Finally, Algert Global LLC lifted its stake in Fulgent Genetics by 46.1% in the second quarter. Algert Global LLC now owns 81,440 shares of the company’s stock valued at $1,598,000 after buying an additional 25,680 shares during the last quarter. 48.06% of the stock is currently owned by institutional investors.

Fulgent Genetics Stock Performance

Shares of FLGT stock opened at $21.61 on Friday. The stock has a market capitalization of $654.78 million, a price-to-earnings ratio of -3.94 and a beta of 1.50. Fulgent Genetics has a one year low of $18.76 and a one year high of $30.68. The company’s 50-day simple moving average is $21.15 and its 200-day simple moving average is $21.39.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.45. The business had revenue of $71.03 million for the quarter, compared to analyst estimates of $69.07 million. Fulgent Genetics had a negative return on equity of 2.75% and a negative net margin of 56.22%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.33) EPS. As a group, research analysts forecast that Fulgent Genetics will post -1.46 EPS for the current 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.