Illumina, Inc. (NASDAQ:ILMN) Sees Large Decrease in Short Interest

by · The Cerbat Gem

Illumina, Inc. (NASDAQ:ILMN – Get Free Report) was the target of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 6,510,000 shares, a decrease of 9.7% from the November 30th total of 7,210,000 shares. Based on an average daily trading volume, of 2,080,000 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA lifted its holdings in shares of Illumina by 462.5% in the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after buying an additional 1,997,010 shares in the last quarter. Millennium Management LLC increased its holdings in Illumina by 305.0% during the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after acquiring an additional 1,118,747 shares during the period. Marshall Wace LLP purchased a new stake in Illumina in the 2nd quarter worth approximately $77,628,000. Massachusetts Financial Services Co. MA boosted its holdings in Illumina by 148.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock valued at $137,735,000 after purchasing an additional 631,294 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Illumina by 40.5% during the 3rd quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock valued at $282,735,000 after purchasing an additional 625,245 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Illumina Stock Performance

Shares of ILMN traded up $0.06 during trading hours on Wednesday, hitting $133.63. The company’s stock had a trading volume of 765,506 shares, compared to its average volume of 2,032,600. The business has a 50 day simple moving average of $142.38 and a two-hundred day simple moving average of $131.02. Illumina has a 52-week low of $100.08 and a 52-week high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The company has a market cap of $21.19 billion, a price-to-earnings ratio of -13.42 and a beta of 1.11.

Illumina (NASDAQ:ILMN – Get Free Report) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities analysts expect that Illumina will post 4.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ILMN shares. JPMorgan Chase & Co. raised their price objective on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. TD Cowen boosted their price target on shares of Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Piper Sandler decreased their price objective on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Canaccord Genuity Group lifted their target price on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Barclays upped their target price on Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $165.95.

Check Out Our Latest Analysis on ILMN

About Illumina

(Get Free Report)

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.

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