Fulgent Genetics (FLGT) Surges 5.8%: Is This an Indication of Further Gains?

Company Overview - Fulgent Genetics, Inc. (FLGT) shares increased by 5.8% to close at $21.45, supported by higher trading volume compared to normal sessions, following a 4.1% decline over the past four weeks [1][2] Financial Performance Expectations - The company is anticipated to report a quarterly loss of $0.19 per share, reflecting a year-over-year change of +51.3%, with expected revenues of $71.42 million, down 15.7% from the previous year [3] - The Zacks Consensus Estimate for the third quarter earnings indicates a growth of 51.2%, with results scheduled for release on November 8, 2024 [2][3] Earnings Estimate Trends - The consensus EPS estimate for Fulgent Genetics has remained unchanged over the last 30 days, suggesting that stock price movements may not sustain without trends in earnings estimate revisions [4] - The stock currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook [4] Industry Context - Fulgent Genetics is part of the Zacks Medical Info Systems industry, where another company, SOPHiA GENETICS SA (SOPH), saw a 6.2% increase in its stock price, closing at $3.58, despite a -4.5% return over the past month [4]