Fulgent Genetics, Inc. (NASDAQ:FLGT) Short Interest Up 5.6% in October

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 676,100 shares, an increase of 5.6% from the September 30th total of 640,100 shares. Approximately 3.4% of the company's shares are short sold. Based on an average daily trading volume, of 145,900 shares, the days-to-cover ratio is presently 4.6 days.

Fulgent Genetics Price Performance

Shares of NASDAQ:FLGT traded up $1.18 during mid-day trading on Thursday, hitting $21.45. The company had a trading volume of 298,812 shares, compared to its average volume of 176,823. The company has a market capitalization of $641.87 million, a PE ratio of -3.64 and a beta of 1.50. Fulgent Genetics has a one year low of $18.76 and a one year high of $30.68. The firm has a fifty day moving average price of $21.23 and a 200 day moving average price of $21.39.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.15 earnings per share 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 in the prior year, the business earned ($0.33) earnings per share. The business's quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts expect that Fulgent Genetics will post -1.46 earnings per share for the current fiscal year.

Insider Transactions at Fulgent Genetics

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

Hedge Funds Weigh In On Fulgent Genetics

A number of institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Fulgent Genetics by 98.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,792 shares of the company's stock valued at $1,883,000 after acquiring an additional 42,998 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Fulgent Genetics by 43.0% during the first quarter. BNP Paribas Financial Markets now owns 16,779 shares of the company's stock valued at $364,000 after buying an additional 5,043 shares during the last quarter. Quantbot Technologies LP grew its holdings in Fulgent Genetics by 165.0% during the first quarter. Quantbot Technologies LP now owns 16,071 shares of the company's stock worth $349,000 after buying an additional 10,007 shares in the last quarter. Empowered Funds LLC grew its holdings in Fulgent Genetics by 8.1% during the first quarter. Empowered Funds LLC now owns 109,167 shares of the company's stock worth $2,369,000 after buying an additional 8,225 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Fulgent Genetics in the 1st quarter valued at $213,000. 48.06% of the stock is owned by institutional investors and hedge funds.

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.