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

Fulgent Genetics, Inc. (NASDAQ:FLGT) saw a large 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 daily trading volume, of 976,923 shares, the days-to-cover ratio is presently 2.2 days. Approximately 10.2% of the shares of the company are short sold.

Institutional Investors Weigh In On Fulgent Genetics

A number of institutional investors have recently added to or reduced their stakes in FLGT. Allianz Asset Management GmbH boosted its holdings in shares of Fulgent Genetics by 119.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 90,869 shares of the company’s stock worth $2,054,000 after purchasing an additional 49,485 shares during the last quarter. Diametric Capital LP acquired a new stake in shares of Fulgent Genetics in the second quarter valued at approximately $3,359,000. Creative Planning increased its holdings in shares of Fulgent Genetics by 146.2% in the second quarter. Creative Planning now owns 40,021 shares of the company’s stock valued at $796,000 after purchasing an additional 23,766 shares during the last quarter. SG Americas Securities LLC purchased a new position in Fulgent Genetics during the third quarter worth approximately $433,000. Finally, AlphaQuest LLC boosted its stake in Fulgent Genetics by 95.6% during the third quarter. AlphaQuest LLC now owns 25,025 shares of the company’s stock worth $566,000 after buying an additional 12,231 shares during the last quarter. Institutional investors and hedge funds own 48.06% of the company’s stock.

Fulgent Genetics Price Performance

FLGT stock traded down $0.78 during trading on Friday, hitting $15.59. 599,271 shares of the company traded hands, compared to its average volume of 1,012,894. Fulgent Genetics has a 1 year low of $13.46 and a 1 year high of $31.04. The company has a market cap of $486.89 million, a PE ratio of -7.95 and a beta of 0.94. The stock’s 50-day simple moving average is $20.84 and its 200 day simple moving average is $23.92.

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

Analyst Ratings Changes

Several research firms have recently commented on FLGT. Zacks Research downgraded shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Fulgent Genetics in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fulgent Genetics presently has a consensus rating of “Hold” and an average target price of $32.00.

About Fulgent Genetics

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.