11150 Santa Monica Boulevard, Suite 350 And investors were only beginning to take note of the company, sending the share price above the $15 threshold for the first time ever in November 2019. One of the tests hit the market in April. Management is (very) well aligned and has an admirable track. Taking a look at previous quarters, the . But amid another major surge in demand for testing over the holidays this year, the county announced its expanding its testing services once more. Results typically take 2-7 days, thoughdue to the current volume of test processing, your test results may take longer than expected. It is impossible to predict how fast Covid testing revenues will decline going forward. With the stock looking like it is building a base here, I took a small 'watch item' holding in Fulgent this week using covered call orders as options in the name are both liquid and lucrative.". A fresh set of data points will be out shortly as Fulgent reports fourth quarter results in the coming week. Fulgent COVID-19 Test by RT-PCR. Since third quarter results posted, both Credit Suisse ($50 price target) and Raymond James ($45 price target) have reissued Buy ratings on the stock. I/we have a beneficial long position in the shares of FLGT either through stock ownership, options, or other derivatives. Fulgent Genetics On Nov. 9, genetic-testing specialist stock Fulgent Genetics also saw an irrational share price decline of over 22%. If possible, put on a cloth face covering before medical help arrives. An alternative location is a safe parking lot to deploy the health departments Emergency Response Vehicle, which could serve as the base for pop-up testing that day. Medicare: Bring your red, white, and blue Medicare card to a pharmacy to get your free tests. The team will be equipped to conduct up to 50 tests per hour or roughly 300 tests per day. Thursday, Nov 24, 2022 . The pop-up team will include 5-10 members depending on the districts population. Test to Treat Locations in the City of Long Beach: CVS Pharmacy #8876233 East Willow StreetLong Beach, CA 90806(562) 989-9868, Healthcare in Action3800 Kilroy Airport Way Suite 100Long Beach, CA, The Children's Clinic - SMTF455 E Columbia St, Ste 201Long Beach, CA 90806(562) 264-3558, Worksite Labs - Long Beach4133 E Donald Douglas DriveLong Beach, CA. 2525 Grand Avenue Long Beach, CA 90815 Phone: (562) 570-4000, 1301 West 12th Street Long Beach, CA 90813 Phone: (562) 570-4500 Fax: (562) 570-8234, 6335 Myrtle Avenue Long Beach, CA 90805 Phone: (562) 570-3300 Fax: (562) 570-3306. TEMPLE CITY, Calif., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Fulgent Genetics, Inc. (NASDAQ: FLGT) ("Fulgent Genetics" or the "company"), a technology company providing comprehensive testing. Apollo Medical Acquires Clinics in Nevada and Texas, Terasaki Institute Opens New Biomedical Incubator on L.A.s Westside, Accountability today for a Sustainable Tomorrow. Six years ago, Fulgent Pharma and Fulgent Genetics were both part of a company called Fulgent Therapeutics, which was co-founded in 2011 by then-billionaire Ming Hsieh with proceeds from his $940 million sale the previous year of biometric security company Cogent to IBM. The company had just unveiled a home-based testing line and was hoping for steady growth. We provide a pre-paid overnight shipping label with the test kit. And Fulgents 2021 revenue soared to $992 million, a 30-fold increase over 2019. Just two years ago, Temple City-based Fulgent Genetics Inc. was a small but promising genetic testing company with $32 million in revenue for all of 2019.Today, Fulgent is a testing juggernaut . It is targeting head & neck cancer, which could potential just over a $2 billion target market opportunity. Yes, you should only order this test if you intend to use it within 3-5 days. Combine this uncertainty with what Nierengarten termed a year-long meltdown in biotech and life sciences stocks, and the result is the plunge in Fulgent stock. Howard Fine is a 23-year veteran of the Los Angeles Business Journal. It is taken with a swab in the mouth, nose or throat. These One-Stop Test to Treat locationsareavailable at hundreds of locations nationwide,including pharmacy-based clinics,federally-qualifiedcommunity health centers (FQHCs), and long-termcare facilities. They also expect to begin Phase 2 and 3 trials in two to three additional target indications in the next one to two years, with data readouts over the next three to four years. hb``f``z` All of the steps below must be done on the same day. With these new and additional labs processing hundreds of thousands of tests per quarter, billable test volume skyrocketed from just under 60,000 in 2019 to nearly 10 million in 2021. But this year, Fulgent Genetics Covid test volume has dropped off considerably; the company has sought to diversify, but investors have been wary and sent the stock down nearly 60% to the mid-$30 range. Types of Testing. We think investors underestimate how strong of a position Fulgent is in with now more than $900 million in cash, David Westenberg, senior research analyst with Minneapolis, Minnesota-based Piper Sandler & Co., said in an August research note. Management guided fourth quarter sales to $60 million which was far under the consensus. Using a long nasal swab to get a fluid sample, some antigen tests can produce results in minutes. Appointments are not required. Clinical Molecular Genetics test for COVID-19 disease for SARS-CoV-2 using RNA analysis, RT-PCR offered by Fulgent Genetics. Equating for Fulgent's massive amount of cash, the company is selling at less than one times core revenues. This is an archived article and the information in the article may be outdated. boxes and you must have an email account to sign up. UC Santa Cruz Main Campus. I am not receiving compensation for it (other than from Seeking Alpha). Multi-Service Center for the Homeless 1301 West 12th Street Long Beach, CA 90813 Phone: (562) 570-4500 Fax: (562) 570-8234. %%EOF Detects proteins (or antigens) on the surface of the COVID-19 virus. L.A. County recorded nearly 45,000 new coronavirus cases over the holiday weekend as the omicron variant continued its relentless spread. What type of test are you using for the LA County Home Test Collection? If you have an ad-blocker enabled you may be blocked from proceeding. This account will be linked to their own email address. For investors of Temple City-based Fulgent Genetics Inc., the wind down from the Covid-induced high has finally come and its meant very rough times so far this year. 1 injured after shooting on 110 Fwy in Carson, RFK assassin Sirhan Sirhan denied parole by California, Home Depot has open positions for L.A. residents, Teen stabbed to death at Northern California school, Why Im not celebrating Lillys insulin price cut, Cat spends 6 days alone in Vegas hotel room, Fraudster extradited to U.S. after more than a year, LAPD may stop responding to these 28 calls, Burger King brings back fan-favorite item, San Bernardino Co. leaders address mountain snow, Do Not Sell or Share My Personal Information, Collect your own sample from your nose and wash your hands, Package your sample in the prepaid overnight envelope. The lab will send you a link to your results via email. Others may be sent to a lab for analysis. However, that business makes up more than 90% of revenues currently; the rest of Fulgent is rather small. (at Del Amo)Long Beach, CA 90805, 1250 East Pacific Coast Highway (between Orange and Walnut)Long Beach, CA 90806. Over 20% of those getting tested are positive for the virus, county officials said Monday. This trend is being seen across the industry as the pandemic has ebbed along with testing for it. All appointments are for PCR tests. Fulgent Genetics, meanwhile, has gone on a wild ride. A group of NYC school parents and teachers are asking a judge to suspend mandatory coronavirus testing -- until the city can guarantee that tests won't be used to collect their DNA. How long do I have to send the sample back? The sites will utilize self-swab nasal tests overseen by Rite Aid pharmacists and will operate weekdays from 10 a.m to 8 p.m., and weekends from 10 a.m. to 5 p.m. You have 3-5 days after you receive the test kit to collect and return the sample to the lab via FedEx. People will also continue to be able to be tested and treated by their own health careproviders who can appropriately prescribe these oral antivirals at locations where they are beingdistributed. Piper Sandler downgraded the shares to a Neutral with a $40 price target. Testing for children under 4 years is available at all City-run sites.Fulgent Genetics, the City's COVID-19 diagnostic testing partner, no longer offers Flu testing. There were several small sales from numerous sales totaling just less than $200,000 in aggregate in the fourth quarter of last year. But you do not need insurance to get a test kit. When you enter this information, Healthvana will send your contacts an anonymous notification. I wrote this article myself, and it expresses my own opinions. Sales from Fulgent's core testing divisions are growing impressively and the company should see overall sales growth return in FY2024. The testing clinic will not provide tests to parents or guardians of students; those who are not students or faculty will be turned away. However, it is asked that you enter your health insurance information so L.A. County can get reimbursed for the cost of the test. You should collect and ship your sample within 3 to 5 days of receiving the test kit. Mondays - Fridays9:30 a.m. - 1 p.m.2:30 - 5 p.m. Martin Luther King Jr. ParkCenter Facilities Center1133 Rhea St. Cabrillo High School2100-2198 Monitor Ave., 90810(Enter on Hill and proceed to small gym across from the football field)- PCR & Rapid tests available, Ramona Park3301 E. 65th St.-Walk-up only- PCR & Rapid tests available, Mondays - Fridays*9:30 a.m. - 1 p.m.2:30 - 5 p.m.*Will be closed on the following Fridays: 2/17, 3/3, 3/17, & 3/31. --Fulgent Genetics , Inc., a technology . Other Facilities Take Your Test Before Your First Class. The City of Long Beach will be opening a no-cost Rapid Assessment Clinic at the Pacific Coast Campus, in addition to staging a field hospital at the Long Beach Sports Arena and establishing mobile hospital tents at local area hospitals, in anticipation to treat a surge in COVID-19 patients. See below for available testing options. 1250 East Pacific Coast Highway (between Orange and Walnut), If you have tested positive for COVID-19, or been told by a clinician that you are presumed to be positive, you are, Regardless of the outcome of your test, if you had close contact with someone who has or is likely to have COVID-19 in the past 14 days, you are, way to rapidly access free lifesaving treatment for COVID-19. California Department of Public Health. If you do not have a primary care doctor, contact the City's Public Health Info Line at (562) 570-INFO (4636). Finding gems in the biotech and small-cap stock sectors, these highly volatile spaces proven hugely successful have empowered Bret Jensen's own investing portfolio. CURRENT FULGENT TESTING SITES Santa Fe Springs Emergency Medical Services 10100 Pioneer Blvd., Ste 200 Santa Fe Springs, CA 90670 Hours: Tues: 11 a.m. - 12 p.m. Castaic 1110 N. Eastern Ave Pitchess Detention Center (Visitor) - -Mobile 29320 The Old Rd Castaic, CA 91384 Hours: Mon: 6 a.m. - 10 a.m. Downey Rancho Los Amigos 7601 Imperial . Howard Fine is a 23-year veteran of the Los Angeles Business Journal. GTR Test ID Help Each Test is a specific, orderable test from a particular laboratory, and is assigned a unique GTR accession number . 107 S. Long Beach Blvd.Compton, CA 902212059 S. Garey Ave.Pomona, CA 91766. Follow the instructions included in the test kit to: You will receive your result within 48 hours after the lab receives your sample. Monday-Friday, 7 a.m. to 7 p.m. Saturday-Sunday, 8 a.m. to 4 p.m. You MUST use this FedEx label to make sure it arrives in time. Learn more about Bret Jensen's Marketplace Offerings: The Insiders Forum | The Biotech Forum | Busted IPO Forum. Anaheim City Hall. testing revenues but had some key things going for it over the longer term. The Covid-19 pandemic has proven a double-edged sword for Temple City-based genetic testing company Fulgent Genetics Inc. On the negative side, the spread of the virus halted much of Fulgents regular genetic testing as stay-at-home orders prevented many customers from coming into labs or clinics for tests. People will also continue to be able to be tested and treated by their own health careproviders who can appropriately prescribe these oral antivirals at locations where they are beingdistributed. 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