Why Fulgent Genetics Stock Is Soaring 11.2% Today
After the company reported top-line and bottom-line third-quarter financials that were significantly better than analysts were expecting, shares in genetic screening company Fulgent Genetics (NASDAQ: FLGT) were skyrocketing 11.2% at 11:48 a.m. EDT on Tuesday.
The healthcare company is enjoying robust growth since pivoting its business earlier this year to include coronavirus testing for governments, businesses, and schools. Contracts to provide testing resulted in third-quarter revenue of $101.7 million, up 883% year over year, which was $53 million better than industry watchers predicted.
Image source: Getty Images.
Source Fool.com
