Fulgent Genetics Stock Price, News & Analysis

Fulgent Genetics, Inc. (NASDAQ: FLGT) announced a share repurchase program allowing the purchase of up to $250 million in its common stock. The program aims to return capital to shareholders amid share price volatility. With over $1.0 billion in cash and investments, the company is well-positioned to pursue growth while implementing this buyback strategy. Repurchases will depend on market conditions and may utilize various methods. Approximately 30.3 million shares were outstanding as of March 7, 2022.

Fulgent Genetics (NASDAQ: FLGT) announced its management team will participate virtually in Oppenheimer’s 32nd Annual Healthcare Conference on March 15, 2022, at approximately 9:20 a.m. Eastern Time. A live webcast of the presentation will be hosted on the company's Investor Relations website, with a replay available one hour after the event.

Fulgent Genetics specializes in technology-driven genetic testing, focusing on patient care in oncology, infectious diseases, rare diseases, and reproductive health. The company offers a flexible test menu and advanced technology for tailored genetic solutions.

Helio Health announced positive results from the ENCORE study, which validated its HelioLiver test for detecting early hepatocellular carcinoma (HCC). The test demonstrated a high specificity of 91% and sensitivity of 76% for early-stage HCC, outperforming standard detection methods like AFP (57%) and ultrasound (47%). The study included 247 participants, with findings published in Hepatology Communications. Helio aims to improve early cancer detection using its ECLIPSE platform, and HelioLiver is now available for order in the U.S. and Canada.

Epic Sciences has partnered with Fulgent Genetics (NASDAQ:FLGT) to provide DefineMBC, a comprehensive profiling test for metastatic breast cancer (MBC) patients. This collaboration integrates Fulgent's certified Next Generation Sequencing services with Epic's advanced cell analysis platform, enhancing patient care when tissue biopsy is unavailable. The dual analysis from a single blood draw includes detection of circulating tumor cells, protein expression assessment, and plasma-based cell-free DNA analysis. This partnership aims to accelerate the clinical launch and improve outcomes for MBC patients.

Fulgent Genetics (NASDAQ: FLGT) announced a strategic investment of up to $40 million in Spatial Genomics, a developer of seqFISH technology, which aims to enhance genomic testing solutions. This investment is part of a $56 million Series A financing round led by Fulgent, promoting integration of seqFISH into Fulgent's lab services. Fulgent's partnership with Spatial seeks to expand multiomic analysis capabilities, targeting advancements in precision medicine and clinical diagnostics.

Fulgent Genetics reported a remarkable 135% year-over-year revenue growth for 2021, totaling $992.6 million. The fourth quarter alone saw revenue of $251.7 million, with core revenue surging 236% to $122.6 million for the full year. GAAP income reached $507.4 million or $16.38 per share. Looking ahead, the company projects total revenue of approximately $600 million for 2022, with core revenue expectations of $120 million. Fulgent's strong cash position of $935.5 million provides a solid foundation for future investments.

Fulgent Genetics (NASDAQ: FLGT) will announce its fourth quarter and full year 2021 financial results on February 23, 2022, after market close. Following this, a conference call with the company's top executives will be held at 4:30 PM ET to discuss the results. Investors can access the call via a live audio webcast on the company’s website or by phone. Fulgent is focused on genetic testing across various sectors, leveraging its technology platform to provide high-quality, flexible, and competitively priced testing services.

Fulgent Genetics (NASDAQ: FLGT) and Helio Health have announced the commercial launch of HelioLiver, a novel blood test designed for detecting hepatocellular carcinoma (HCC) at early stages. This test utilizes cell-free DNA (cfDNA) methylation patterns and serum protein markers, showing a sensitivity of 76% and specificity of 91%. The test aims to improve early detection and treatment options, potentially increasing five-year survival rates significantly. It is now available through healthcare providers, deterring the need for more invasive and less convenient testing methods.

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.