Short Interest in Fulgent Genetics, Inc. (NASDAQ:FLGT) Rises By 38.7%

Fulgent Genetics, Inc. (NASDAQ:FLGT) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 2,135,898 shares, a growth of 38.7% from the February 26th total of 1,540,495 shares. Based on an average trading volume of 976,923 shares, the short-interest ratio is presently 2.2 days. Currently, 10.2% of the company’s stock are sold short.

Analyst Ratings Changes

FLGT has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulgent Genetics in a report on Thursday, January 22nd. Zacks Research cut Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Wall Street Zen downgraded Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.00.

Fulgent Genetics Stock Down 4.8%

Shares of Fulgent Genetics stock traded down $0.78 during midday trading on Friday, hitting $15.59. The company had a trading volume of 599,271 shares, compared to its average volume of 1,012,894. The company has a fifty day simple moving average of $20.84 and a 200 day simple moving average of $23.92. The stock has a market cap of $486.89 million, a price-to-earnings ratio of -7.95 and a beta of 0.94. Fulgent Genetics has a 12-month low of $13.46 and a 12-month high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last released its earnings results on Friday, February 27th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.14. The company had revenue of $83.34 million for the quarter, compared to the consensus estimate of $85.38 million. Fulgent Genetics had a negative net margin of 18.75% and a negative return on equity of 2.22%. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. As a group, analysts expect that Fulgent Genetics will post -0.85 EPS for the current year.

Institutional Trading of Fulgent Genetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLGT. Farther Finance Advisors LLC grew its stake in Fulgent Genetics by 69.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock valued at $35,000 after purchasing an additional 548 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Fulgent Genetics during the fourth quarter worth about $35,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Fulgent Genetics by 214.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock worth $48,000 after purchasing an additional 1,251 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Fulgent Genetics in the fourth quarter valued at approximately $56,000. Finally, Raymond James Financial Inc. purchased a new stake in Fulgent Genetics in the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 48.06% of the company’s stock.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.