Fulgent Genetics, Inc. (NASDAQ:FLGT) Short Interest Up 19.6% in March

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,650,000 shares, an increase of 19.6% from the February 28th total of 1,380,000 shares. Approximately 8.3% of the company's stock are sold short. Based on an average daily trading volume, of 407,500 shares, the days-to-cover ratio is presently 4.0 days.

Fulgent Genetics Stock Up 1.4 %

Shares of FLGT traded up $0.24 during trading hours on Monday, hitting $17.10. The company had a trading volume of 438,873 shares, compared to its average volume of 249,300. The firm has a market cap of $527.81 million, a price-to-earnings ratio of -3.10 and a beta of 1.36. The business has a fifty day moving average of $16.80 and a 200-day moving average of $18.42. Fulgent Genetics has a 12 month low of $14.57 and a 12 month high of $25.11.

Wall Street Analysts Forecast Growth

FLGT has been the topic of a number of recent analyst reports. StockNews.com raised Fulgent Genetics from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. Piper Sandler decreased their target price on Fulgent Genetics from $22.00 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th.

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Insider Activity

In other news, CFO Paul Kim bought 100,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $15.96 per share, with a total value of $1,596,000.00. Following the acquisition, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 31.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Intech Investment Management LLC acquired a new position in shares of Fulgent Genetics in the third quarter valued at approximately $272,000. BNP Paribas Financial Markets grew its holdings in Fulgent Genetics by 220.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 43,813 shares of the company's stock valued at $952,000 after buying an additional 30,160 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Fulgent Genetics by 15.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,668 shares of the company's stock worth $971,000 after buying an additional 5,898 shares during the period. Centiva Capital LP lifted its holdings in shares of Fulgent Genetics by 16.5% during the third quarter. Centiva Capital LP now owns 12,538 shares of the company's stock worth $272,000 after buying an additional 1,774 shares in the last quarter. Finally, Invenomic Capital Management LP boosted its position in shares of Fulgent Genetics by 98.9% in the third quarter. Invenomic Capital Management LP now owns 249,747 shares of the company's stock valued at $5,427,000 after acquiring an additional 124,185 shares during the period. 48.06% of the stock is owned by institutional investors.

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.