Why Shares of Fulgent Genetics Fell 20% in April

Why Shares of Fulgent Genetics Fell 20% in April
·2 min read

Shares of genetic testing company Fulgent Genetics (NASDAQ: FLGT) fell 20% in April, according to data from S&P Global Market Intelligence. The success in rolling out COVID-19 vaccines has been the driver of Fulgent's continued sell-off this past month. In the fourth quarter, nearly 90% of revenue came from COVID-19 testing as opposed to Fulgent's core genetic testing.

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