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

Fulgent Genetics, Inc. (NASDAQ:FLGT) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 640,100 shares, a decline of 11.5% from the September 15th total of 723,200 shares. Currently, 3.2% of the shares of the company are sold short. Based on an average daily volume of 166,300 shares, the days-to-cover ratio is currently 3.8 days.

Insider Buying and Selling

In related news, CEO Ming Hsieh sold 2,313 shares of Fulgent Genetics stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $22.83, for a total value of $52,805.79. Following the completion of the sale, the chief executive officer now owns 707,275 shares of the company’s stock, valued at approximately $16,147,088.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 4,324 shares of company stock valued at $98,717. 31.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Fulgent Genetics by 0.6% during the first 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 in the last quarter. Millennium Management LLC raised its stake in Fulgent Genetics by 34.3% in the second quarter. Millennium Management LLC now owns 958,852 shares of the company’s stock valued at $18,813,000 after purchasing an additional 244,981 shares in the last quarter. Divisadero Street Capital Management LP raised its stake in Fulgent Genetics by 46.4% in the second quarter. Divisadero Street Capital Management LP now owns 505,212 shares of the company’s stock valued at $9,912,000 after purchasing an additional 160,212 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Fulgent Genetics by 37.6% during the second quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company’s stock valued at $3,948,000 after purchasing an additional 55,020 shares during the last quarter. Finally, TCW Group Inc. grew its stake in Fulgent Genetics by 3.0% in the 2nd quarter. TCW Group Inc. now owns 120,100 shares of the company’s stock worth $2,356,000 after buying an additional 3,500 shares in the last quarter. Institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Stock Down 1.7 %

Shares of NASDAQ:FLGT traded down $0.35 during midday trading on Thursday, reaching $19.75. 19,181 shares of the company traded hands, compared to its average volume of 176,883. Fulgent Genetics has a 12 month low of $18.91 and a 12 month high of $30.68. The firm’s fifty day moving average price is $22.04 and its two-hundred day moving average price is $21.50. The firm has a market capitalization of $591.00 million, a price-to-earnings ratio of -3.61 and a beta of 1.50.

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