Fulgent Genetics Stock Price, News & Analysis

Fulgent Genetics (NASDAQ: FLGT) announced its RT-PCR test for SARS-CoV-2 can detect the Omicron variant, indicating strong testing capabilities. The Omicron variant, identified in South Africa, has mutations that do not impact Fulgent's testing assays. The company has conducted over 12 million COVID-19 tests since the pandemic began. According to CCO Brandon Perthuis, Fulgent remains committed to providing reliable test solutions amidst ongoing challenges posed by new variants.

Fulgent Genetics (FLGT) reported a robust 124% year-over-year revenue growth, reaching $227.9 million for Q3 2021. Core Revenue surged 292% to $40.1 million, with gross margin improving by 7 percentage points.

GAAP income stood at $122.5 million ($3.93/share), while Non-GAAP income was $126.3 million ($4.05/share). The company raised its full-year revenue guidance to $930 million from $800 million, driven by strong core and COVID-19 testing performance. By year-end, FLGT expects total revenue of approximately $930 million and core revenue of $115 million.

Fulgent Genetics (NASDAQ: FLGT), a technology-driven genetic testing company, has announced participation in two upcoming investor conferences. The company will present at the Credit Suisse 30th Annual Healthcare Conference on November 10, 2021, at 4:20 p.m. ET, and at the Piper Jaffray 33rd Annual Healthcare Conference on December 1, 2021. Webcasts of these presentations will be accessible on the Fulgent Genetics Investor Relations website. The company specializes in genetic testing for oncology, infectious diseases, and reproductive health, emphasizing high accuracy and competitive turnaround times.

On November 8, 2021, Helio Health and Fulgent Genetics announced at AASLD new data on HelioLiver, a blood test for early detection of hepatocellular carcinoma (HCC). HelioLiver demonstrated 91% specificity, with 76% sensitivity for early-stage HCC and 85% overall. This performance surpasses alpha-fetoprotein (AFP) and the GALAD model. The test, using cfDNA methylation and protein markers, can potentially revolutionize early liver cancer detection, improving patient outcomes by enabling timely treatment interventions.

Helio Health and Fulgent Genetics announced a late-breaking poster presentation on HelioLiver, a blood test for detecting hepatocellular carcinoma (HCC), at The Liver Meeting® 2021, scheduled for November 12-15, 2021. The test uses cell-free DNA methylation patterns and protein markers to improve early cancer detection. The presentation will feature David J. Taggart, PhD, and aims to highlight significant advancements in liver cancer screening. Helio Health focuses on AI-driven cancer detection, while Fulgent Genetics specializes in genetic testing innovations.

Fulgent Genetics (NASDAQ: FLGT) has launched a new antibody test for COVID-19 that targets neutralizing antibodies. This consumer-initiated test can be performed via a finger prick at home without needing a physician visit. The test aims to empower individuals with data on their immunity levels, helping to assess vaccine effectiveness and herd immunity. Fulgent has conducted over 12 million COVID-19 tests since the pandemic began, and this new offering enhances its existing testing capabilities.

Fulgent Genetics (NASDAQ: FLGT) will release its third quarter 2021 financial results on November 9, 2021, after market close. The company specializes in genetic testing for oncology, infectious diseases, and reproductive health. A conference call hosted by key executives will take place at 4:30 PM ET to discuss results and answer questions. Investors can access the call via audio webcast or by dialing in. Fulgent Genetics combines NGS technology with an extensive test menu, providing a comprehensive suite of services tailored to client needs.

Fulgent Genetics (NASDAQ: FLGT) announced a partnership with the Houston Health Department and local public schools to conduct COVID-19 testing for students this school year. Aiming to combat rising COVID-19 cases among school-age children, the initiative will utilize RT-PCR testing with parental consent. Participating districts include Houston ISD and Aldine ISD, with daily sample deliveries to Fulgent's Houston lab, ensuring results are available the next school day. The company's certified lab capabilities position it as a trusted provider for COVID-19 testing services.

Fulgent Genetics (FLGT) reported remarkable financial results for Q2 2021, with revenue soaring to $153.6 million, a 790% year-over-year increase. The company delivered around 1.6 million billable tests, significantly up from the previous year. Gross margin improved by 21 percentage points, and GAAP income reached $79.8 million, or $2.59 per share. Fulgent also made strategic investments including acquiring CSI Laboratories and boosting its position in FF Gene Biotech. For Q3 2021, it expects revenue between $125 million and $150 million, anticipating growth amid changing testing demands.