GAMMA Investing LLC Takes Position in Illumina, Inc. (NASDAQ:ILMN)

GAMMA Investing LLC bought a new position in Illumina, Inc. (NASDAQ:ILMN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,153 shares of the life sciences company’s stock, valued at approximately $308,000.

Several other large investors have also recently bought and sold shares of ILMN. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Illumina in the 3rd quarter valued at about $29,558,000. abrdn plc increased its position in Illumina by 764.9% during the 4th quarter. abrdn plc now owns 339,023 shares of the life sciences company’s stock valued at $47,206,000 after purchasing an additional 299,827 shares during the period. International Assets Investment Management LLC raised its holdings in Illumina by 210.5% during the 4th quarter. International Assets Investment Management LLC now owns 48,194 shares of the life sciences company’s stock worth $6,711,000 after purchasing an additional 32,672 shares during the last quarter. Aquila Investment Management LLC lifted its position in shares of Illumina by 150.0% in the 4th quarter. Aquila Investment Management LLC now owns 25,000 shares of the life sciences company’s stock worth $3,481,000 after purchasing an additional 15,000 shares during the period. Finally, Weil Company Inc. boosted its stake in shares of Illumina by 59.2% in the 3rd quarter. Weil Company Inc. now owns 22,963 shares of the life sciences company’s stock valued at $3,152,000 after purchasing an additional 8,539 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors.

Insider Activity at Illumina

In other news, CEO Jacob Thaysen bought 7,330 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was acquired at an average cost of $135.29 per share, with a total value of $991,675.70. Following the completion of the transaction, the chief executive officer now directly owns 14,861 shares of the company’s stock, valued at approximately $2,010,544.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. OTR Global reaffirmed a “mixed” rating on shares of Illumina in a research report on Wednesday, March 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $253.00 price target on shares of Illumina in a research note on Tuesday, April 9th. Stephens reaffirmed an “overweight” rating and set a $170.00 price objective on shares of Illumina in a research report on Wednesday, April 10th. StockNews.com raised shares of Illumina from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Finally, TD Cowen lowered shares of Illumina from an “outperform” rating to a “market perform” rating and set a $144.00 price objective on the stock. in a report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $167.70.

Illumina Price Performance

Shares of NASDAQ:ILMN opened at $122.87 on Thursday. The company has a market capitalization of $19.57 billion, a P/E ratio of -16.74 and a beta of 1.19. The company’s 50-day moving average is $132.44 and its 200 day moving average is $127.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.66. Illumina, Inc. has a fifty-two week low of $89.00 and a fifty-two week high of $228.13.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, February 8th. The life sciences company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.13. Illumina had a negative net margin of 25.78% and a positive return on equity of 2.20%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $0.14 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts forecast that Illumina, Inc. will post 0.91 earnings per share for the current year.

Illumina Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.