Stock Alert: Fulgent Genetics Rises 16%

Shares of Fulgent Genetics, Inc. (FLGT) are climbing more than 16% Tuesday morning after the genetic testing services provider announced the launch of a Next Generation Sequencing based test for the Coronavirus Disease (COVID-19), one of the market's first diagnostic tests for the COVID-19 virus developed based on NGS technology.

Fulgent and MedScan will begin accepting specimens for testing this week from healthcare providers, clinics and reference labs. MedScan Laboratories is a CLIA certified lab that will collect samples on behalf of Fulgent and extract RNA for processing.

The stock is currently trading at $7.79. It has traded in the range of $4.71- $20.60 in the last 52-weeks.

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