Short Interest in Fulgent Genetics, Inc. (NASDAQ:FLGT) Drops By 11.5%

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 640,100 shares, a drop of 11.5% from the September 15th total of 723,200 shares. Approximately 3.2% of the company's shares are sold short. Based on an average trading volume of 166,300 shares, the short-interest ratio is currently 3.8 days.

Fulgent Genetics Price Performance

NASDAQ FLGT traded down $0.09 during mid-day trading on Tuesday, hitting $20.26. The company's stock had a trading volume of 148,174 shares, compared to its average volume of 178,015. Fulgent Genetics has a 52-week low of $18.91 and a 52-week high of $30.68. The stock's fifty day simple moving average is $22.11 and its two-hundred day simple moving average is $21.51. The firm has a market capitalization of $606.26 million, a P/E ratio of -3.64 and a beta of 1.50.

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

Insider Buying and Selling

In related news, CEO Ming Hsieh sold 2,313 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 4,324 shares of company stock valued at $98,717. Insiders own 31.76% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FLGT. Rhumbline Advisers lifted its position in shares of Fulgent Genetics by 0.9% during the second quarter. Rhumbline Advisers now owns 68,210 shares of the company's stock worth $1,338,000 after purchasing an additional 637 shares in the last quarter. Signaturefd LLC lifted its position in shares of Fulgent Genetics by 103.6% during the second quarter. Signaturefd LLC now owns 2,225 shares of the company's stock worth $44,000 after purchasing an additional 1,132 shares in the last quarter. Marquette Asset Management LLC lifted its position in shares of Fulgent Genetics by 13.7% during the third quarter. Marquette Asset Management LLC now owns 9,908 shares of the company's stock worth $215,000 after purchasing an additional 1,191 shares in the last quarter. Asset Dedication LLC acquired a new position in shares of Fulgent Genetics during the second quarter worth $33,000. Finally, nVerses Capital LLC acquired a new position in shares of Fulgent Genetics during the second quarter worth $43,000. Hedge funds and other institutional investors own 48.06% of the company's stock.

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.