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

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) was the recipient of a large 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. Currently, 6.5% of the company's shares are short sold. Based on an average trading volume of 255,400 shares, the short-interest ratio is currently 5.1 days.

Insider Buying and Selling

In related news, CFO Paul Kim purchased 100,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $15.96 per share, for a total transaction of $1,596,000.00. Following the acquisition, the chief financial officer now directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 31.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new position in Fulgent Genetics during the 3rd quarter worth approximately $5,854,000. Millennium Management LLC grew its stake in Fulgent Genetics by 20.6% during the 4th quarter. Millennium Management LLC now owns 1,531,801 shares of the company's stock worth $28,292,000 after buying an additional 261,152 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Fulgent Genetics by 113.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 338,044 shares of the company's stock worth $7,346,000 after buying an additional 179,477 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Fulgent Genetics by 40.8% during the 4th quarter. Ameriprise Financial Inc. now owns 501,809 shares of the company's stock worth $9,268,000 after buying an additional 145,518 shares during the last quarter. Finally, Invenomic Capital Management LP grew its stake in Fulgent Genetics by 98.9% during the 3rd quarter. Invenomic Capital Management LP now owns 249,747 shares of the company's stock worth $5,427,000 after buying an additional 124,185 shares during the last quarter. Hedge funds and other institutional investors own 48.06% of the company's stock.

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Fulgent Genetics Price Performance

Shares of FLGT traded up $0.69 during mid-day trading on Friday, reaching $18.59. The company's stock had a trading volume of 813,378 shares, compared to its average volume of 202,350. Fulgent Genetics has a 12-month low of $14.57 and a 12-month high of $25.11. The stock has a market cap of $573.11 million, a PE ratio of -3.37 and a beta of 1.54. The company's 50 day moving average is $17.14 and its 200 day moving average is $19.26.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler cut their price target on 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 report on Wednesday.

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.