Fulgent Genetics, Inc. (NASDAQ:FLGT) Sees Large Increase in Short Interest

Fulgent Genetics, Inc. (NASDAQ:FLGT) was the recipient of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 2,135,898 shares, a growth of 38.7% from the February 26th total of 1,540,495 shares. Based on an average daily volume of 976,923 shares, the short-interest ratio is currently 2.2 days. Approximately 10.2% of the company’s shares are short sold.

Fulgent Genetics Stock Up 0.3%

Shares of NASDAQ:FLGT opened at $15.63 on Tuesday. The firm has a fifty day moving average of $20.59 and a two-hundred day moving average of $23.88. Fulgent Genetics has a 12-month low of $13.46 and a 12-month high of $31.04. The firm has a market capitalization of $488.12 million, a P/E ratio of -7.97 and a beta of 0.94.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings results on Friday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.14. The business had revenue of $83.34 million during the quarter, compared to analyst estimates of $85.38 million. Fulgent Genetics had a negative return on equity of 2.22% and a negative net margin of 18.75%.Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. Equities research analysts expect that Fulgent Genetics will post -0.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Zacks Research downgraded shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulgent Genetics in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered Fulgent Genetics from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Fulgent Genetics has a consensus rating of “Hold” and a consensus price target of $32.00.

Institutional Trading of Fulgent Genetics

A number of institutional investors and hedge funds have recently made changes to their positions in FLGT. Amundi raised its position in shares of Fulgent Genetics by 289.2% in the first quarter. Amundi now owns 34,316 shares of the company’s stock valued at $583,000 after purchasing an additional 25,500 shares during the period. Goldman Sachs Group Inc. raised its holdings in Fulgent Genetics by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock worth $3,428,000 after acquiring an additional 45,279 shares during the period. Geode Capital Management LLC raised its holdings in Fulgent Genetics by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 513,343 shares of the company’s stock worth $10,207,000 after acquiring an additional 8,105 shares during the period. Creative Planning lifted its position in Fulgent Genetics by 146.2% during the 2nd quarter. Creative Planning now owns 40,021 shares of the company’s stock worth $796,000 after acquiring an additional 23,766 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Fulgent Genetics by 14.1% during the second quarter. Legal & General Group Plc now owns 21,025 shares of the company’s stock valued at $418,000 after acquiring an additional 2,599 shares during the period. Institutional investors and hedge funds own 48.06% of the company’s stock.

About Fulgent Genetics

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.