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Old West Investment Management Is Betting on Fulgent Genetics (FLGT) Stock

Alex Smith
·3 min read

Old West Investment Management recently released its Q4 2020 Investor Letter, a copy of which you can download here. In 2020, the fund's LP strategies returned an average of 65% and its SMA strategies returned an average of 66%. You should check out Old West Investment Management's top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q4 2020 Investor Letter, Old West Investment Management highlighted a few stocks and Fulgent Genetics Inc. (NASDAQ:FLGT) is one of them. Fulgent Genetics Inc. (NASDAQ:FLGT) operates as a technology company, which provides genetic testing and next generation sequencing solutions. In the last three months, Fulgent Genetics Inc. (NASDAQ:FLGT) stock gained 88.9% and on January 13th it had a closing price of $69.84. Here is what Old West Investment Management said:

"In our investor letter last July, Old West partner Chad Cook gave a bullish presentation of Fulgent Genetics (FLGT). We first purchased FLGT at $4 per share. At the time of the letter it was trading at $20 and it finished the year at $55. This Southern California based company is one of the fastest growers in the field of genetic testing, but their quick and nimble move into Covid testing has seen the company grow at 300% year over year."

biotech research company, bio-technology companies
biotech research company, bio-technology companies

Copyright: mikkolem / 123RF Stock Photo

Old West Investment Management has been a long time Fulgent Genetics Inc. (NASDAQ:FLGT) bull. In August 2020, we shared the hedge fund’s bullish Fulgent Genetics Inc. (NASDAQ:FLGT) thesis in this article.

In Q3 2020, the number of bullish hedge fund positions on Fulgent Genetics Inc. (NASDAQ:FLGT) stock increased by about 100% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in FLGT's growth potential. Our calculations showed that Fulgent Genetics Inc. (NASDAQ:FLGT) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.