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

Fulgent Genetics, Inc. (NASDAQ:FLGT) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 579,100 shares, a decrease of 10.3% from the October 31st total of 645,600 shares. Currently, 2.9% of the shares of the stock are sold short. Based on an average daily volume of 179,100 shares, the short-interest ratio is presently 3.2 days.

Wall Street Analyst Weigh In

A number of research firms recently commented on FLGT. StockNews.com lowered Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Piper Sandler lowered their price target on shares of Fulgent Genetics from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, November 11th.

Fulgent Genetics Trading Down 0.1 %

FLGT stock traded down $0.02 during mid-day trading on Tuesday, reaching $19.55. The company’s stock had a trading volume of 326,968 shares, compared to its average volume of 186,618. Fulgent Genetics has a 12 month low of $16.56 and a 12 month high of $30.68. The business’s 50 day moving average price is $19.71 and its 200 day moving average price is $21.05. The company has a market cap of $598.03 million, a price-to-earnings ratio of -3.54 and a beta of 1.42.

Insider Activity at Fulgent Genetics

In other news, CEO Ming Hsieh sold 2,227 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $18.26, for a total transaction of $40,665.02. Following the sale, the chief executive officer now directly owns 703,711 shares in the company, valued at approximately $12,849,762.86. The trade was a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 3,413 shares of company stock valued at $62,321 in the last quarter. Insiders own 32.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Asset Dedication LLC bought a new position in shares of Fulgent Genetics during the 2nd quarter worth about $33,000. nVerses Capital LLC bought a new position in Fulgent Genetics in the second quarter worth approximately $43,000. Signaturefd LLC grew its stake in Fulgent Genetics by 103.6% in the second quarter. Signaturefd LLC now owns 2,225 shares of the company’s stock valued at $44,000 after acquiring an additional 1,132 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Fulgent Genetics during the third quarter valued at approximately $46,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Fulgent Genetics during the second quarter worth approximately $63,000. 48.06% of the stock is owned by institutional investors.

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.