Stock Alert: Fulgent Genetics Up 20% On COVID-19 Testing Deal For NY Schools

(RTTNews) - Shares of Fulgent Genetics Inc. (FLGT) are currently gaining nearly 20% on Thursday morning. The other day, the genetic testing services company said it would supply COVID-19 testing to hundreds of thousands of students in collaboration with New York City Health and Hospitals at nearly 1,600 locations.

FLGT is currently trading at $34.52, up $6.14 or 21.28%, on the Nasdaq.

The California-based company will supply its RT-PCR at-home test, approved under US FDA emergency use authorization, for students, as they return to school beginning September.

Separately, Fulgent also announced that beginning September 28th, all patients tested for COVID-19 by Fulgent Genetics will also receive results for Influenzas A and B.