VIR - Fulgent Genetics: Growth Is Returning

2024-06-06 11:36:47 ET

Summary

• Today, we put diagnostic company Fulgent Genetics, Inc. back in the spotlight as sales growth is returning after navigating a "Covid Cliff."
• While the company is still losing money, the stock is trading for less than the net cash on Fulgent's balance sheet.
• This should put a hard floor under the stock near current trading levels. An updated analysis around Fulgent Genetics follows in the paragraphs below.

It has been just over six months since our last look at Fulgent Genetics, Inc. ( FLGT ) . This diagnostic company, like so many others in the space, is navigating through a rough patch triggered by Covid going from being a pandemic to being endemic. The company fortunately has a rock-solid balance sheet rich in cash to get through this challenge. The company reported its first quarter results in early May. Therefore, it makes it a good time to take our first look at Fulgent in 2024. An updated analysis follows below....

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