Short Interest in Fulgent Genetics, Inc. (NASDAQ:FLGT) Increases By 29.3%

Fulgent Genetics, Inc. (NASDAQ:FLGT - Get Free Report) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 748,900 shares, a growth of 29.3% from the November 15th total of 579,100 shares. Based on an average daily trading volume, of 203,600 shares, the days-to-cover ratio is presently 3.7 days. Approximately 3.8% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FLGT shares. Piper Sandler cut their price target on shares of Fulgent Genetics from $26.00 to $22.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. StockNews.com downgraded shares of Fulgent Genetics from a "hold" rating to a "sell" rating in a report on Wednesday, November 27th.

Insider Activity

In related news, CEO Ming Hsieh sold 2,227 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $18.26, for a total transaction of $40,665.02. Following the transaction, the chief executive officer now directly owns 703,711 shares in the company, valued at approximately $12,849,762.86. This represents a 0.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 3,413 shares of company stock worth $62,321. 31.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fulgent Genetics

A number of hedge funds have recently added to or reduced their stakes in FLGT. Price T Rowe Associates Inc. MD grew its stake in Fulgent Genetics by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,261 shares of the company's stock worth $310,000 after acquiring an additional 3,458 shares in the last quarter. SG Americas Securities LLC grew its stake in Fulgent Genetics by 36.4% in the 2nd quarter. SG Americas Securities LLC now owns 12,826 shares of the company's stock worth $252,000 after acquiring an additional 3,425 shares in the last quarter. TCW Group Inc. lifted its position in shares of Fulgent Genetics by 3.0% in the 2nd quarter. TCW Group Inc. now owns 120,100 shares of the company's stock worth $2,356,000 after purchasing an additional 3,500 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Fulgent Genetics by 37.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 201,201 shares of the company's stock worth $3,948,000 after purchasing an additional 55,020 shares during the period. Finally, Signaturefd LLC lifted its position in shares of Fulgent Genetics by 103.6% in the 2nd quarter. Signaturefd LLC now owns 2,225 shares of the company's stock worth $44,000 after purchasing an additional 1,132 shares during the period. 48.06% of the stock is currently owned by institutional investors.

Fulgent Genetics Price Performance

FLGT stock traded down $0.66 during mid-day trading on Friday, reaching $19.58. The company had a trading volume of 219,579 shares, compared to its average volume of 189,610. The company has a market capitalization of $598.95 million, a PE ratio of -3.55 and a beta of 1.42. The firm has a 50 day moving average of $19.56 and a 200 day moving average of $20.99. Fulgent Genetics has a 12 month low of $16.56 and a 12 month high of $30.68.

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.

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