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

Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 908,500 shares, a growth of 5.9% from the February 13th total of 857,800 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average trading volume of 239,200 shares, the short-interest ratio is currently 3.8 days.

Institutional Trading of Fulgent Genetics

Several institutional investors have recently added to or reduced their stakes in FLGT. JPMorgan Chase & Co. increased its stake in Fulgent Genetics by 318.5% during the first quarter. JPMorgan Chase & Co. now owns 78,457 shares of the company’s stock valued at $4,896,000 after purchasing an additional 59,711 shares during the last quarter. Raymond James & Associates grew its position in shares of Fulgent Genetics by 42.9% during the first quarter. Raymond James & Associates now owns 14,944 shares of the company’s stock worth $933,000 after acquiring an additional 4,486 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Fulgent Genetics by 25.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 24,905 shares of the company’s stock worth $1,554,000 after acquiring an additional 5,106 shares during the last quarter. Citigroup Inc. grew its position in shares of Fulgent Genetics by 3.6% during the first quarter. Citigroup Inc. now owns 20,152 shares of the company’s stock worth $1,258,000 after acquiring an additional 702 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of Fulgent Genetics by 7.6% during the first quarter. Bank of Montreal Can now owns 6,551 shares of the company’s stock worth $410,000 after acquiring an additional 461 shares during the last quarter. Institutional investors own 43.22% of the company’s stock.

Fulgent Genetics Price Performance

FLGT stock opened at $30.84 on Friday. Fulgent Genetics has a 1-year low of $28.53 and a 1-year high of $65.32. The firm has a fifty day moving average price of $32.68 and a two-hundred day moving average price of $35.37. The firm has a market cap of $910.37 million, a price-to-earnings ratio of 6.76 and a beta of 1.61.

Fulgent Genetics (NASDAQ:FLGT – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.07. Fulgent Genetics had a net margin of 23.17% and a return on equity of 11.93%. The firm had revenue of $67.70 million during the quarter, compared to analyst estimates of $59.44 million. As a group, analysts expect that Fulgent Genetics will post -2.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FLGT has been the topic of several recent analyst reports. Raymond James initiated coverage on shares of Fulgent Genetics in a report on Friday, November 18th. They issued an “outperform” rating and a $45.00 price target on the stock. StockNews.com initiated coverage on shares of Fulgent Genetics in a report on Thursday. They issued a “hold” rating on the stock. Piper Sandler cut their price target on shares of Fulgent Genetics from $40.00 to $35.00 in a report on Monday, March 13th. Finally, Credit Suisse Group cut their price target on shares of Fulgent Genetics from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, March 2nd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.67.

Fulgent Genetics Company Profile

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Fulgent Genetics, Inc is a technology company, which engages in the provision of gene testing and sequencing solutions. It offers genes and panels, known mutation, hereditary cancer, carrier screening, and tumor profiling solutions. The company was founded by Ming Hsieh on May 13, 2016 and is headquartered in Temple City, CA.