Fulgent Genetics, Inc. (NASDAQ:FLGT) Short Interest Up 9.7% in December

Fulgent Genetics, Inc. (NASDAQ:FLGT) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 821,300 shares, an increase of 9.7% from the November 30th total of 748,900 shares. Based on an average daily volume of 225,000 shares, the days-to-cover ratio is currently 3.7 days. Currently, 4.1% of the shares of the company are short sold.

Insider Activity

In related news, CEO Ming Hsieh sold 2,227 shares of the stock in a transaction that occurred on 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 owns 703,711 shares in the company, valued at $12,849,762.86. This represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 3,413 shares of company stock valued at $62,321 over the last ninety days. 31.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fulgent Genetics

Several hedge funds and other institutional investors have recently modified their holdings of FLGT. Asset Dedication LLC bought a new stake in Fulgent Genetics during the second quarter valued at about $33,000. nVerses Capital LLC bought a new position in shares of Fulgent Genetics during the 2nd quarter valued at approximately $43,000. Signaturefd LLC increased its holdings in 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 acquiring an additional 1,132 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Fulgent Genetics during the 3rd quarter worth approximately $46,000. Finally, Canada Pension Plan Investment Board purchased a new position in Fulgent Genetics during the second quarter valued at approximately $63,000. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Fulgent Genetics Trading Up 0.3 %

Shares of NASDAQ FLGT opened at $18.42 on Tuesday. Fulgent Genetics has a 12-month low of $16.56 and a 12-month high of $29.91. The firm has a market capitalization of $563.41 million, a price-to-earnings ratio of -3.34 and a beta of 1.42. The firm has a 50 day moving average of $19.28 and a 200 day moving average of $20.85.

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.