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FLGT - Fulgent Genetics: The Good And The Bad Discussed
Fulgent Genetics Inc.
Investors are compressing Fulgent's multiple on the belief that its COVID revenue growth rates will start decelerating in 2022.
Fulgent's NGS segment is not only non-COVID revenues. It also includes COVID revenues amidst its sequencing business unit.
By year-end 2021, Fulgent's balance sheet will hold ~$1 billion in cash. For a company priced at $2.4 billion, that's 40% of its market cap made up of cash.