Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.20, read 2026-10-24
Ethical does not pass the values gate
Price20.10 USD
Fair value18.50
Ethical score70.0/100
Our investment reviews on this name
2026-10-18Read Distribution21.06-4.6% to today ✓Markup gives way to Distribution
2026-10-11Read Markup21.69-7.3% to today Accumulation gives way to Markup first Markup read since August
2026-10-02Read Accumulation21.69-7.3% to today Markup gives way to Accumulation after a 16% rise in 13 weeks
2026-07-02Read Markup18.68+7.6% to today ✓First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Fulgent Genetics Inc holds its Distribution at $20.10. The statistical read favours the sellers, held for 36 days.
As held on the ledger · 2026-10-23
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 36 days
Price at the screen
$20.10
Valuation
N/A trailing · -13.20 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.89
The Workings
Five Screens, Shown in Full
Does not pass. Revenue purity
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.63%
Below 33%
Interest-bearing debt is just 0.6% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
30.43%
Below 33%
Cash held in interest-bearing accounts and securities is 30.4% of assets, under the one-third limit.
Pass
Receivables
11.12%
Below 49%
Money owed to the company is 11.1% of assets, under the 49% limit.
Pass
Revenue purity
9.58%
Below 5%
9.6% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Fulgent Genetics clears the business-activity screen, and its debt is near-nil. Where it falls short is income purity: around 10% of its income right now is interest earned on a large cash position, against a roughly 5% ceiling, so it does not pass. That reflects what it earns today, not the business itself, and it could clear the screen if its operating revenue grows and the interest share falls.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when FLGT's ethical verdict changes
Today FLGT does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. The price runs 8.0% above the base estimate.
Third-party analyst targets: 2 covering, consensus None. The average target sits −8% from the screen price.
Reading the gap · Both our model and the Street see limited upside at this price.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
FLGT trades on NASDAQ. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-29Distribution$20.10-4.6%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 4.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $18. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Distribution$21.06+0.0%Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $18.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 2.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $18.
2026-10-11Markup · changed$21.69+0.0%Entry 7
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $18.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 7.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $18.
2026-08-29Markup$20.16+0.0%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $18.
2026-07-30Markup$20.16+7.9%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 7.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $18.
2026-07-18Markup$18.68+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $18.
2026-07-03Markup$18.68+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Markup$18.68Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.