Avidity Partners Management LP Has $14.66 Million Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Avidity Partners Management LP trimmed its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 62.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,700 shares of the life sciences company's stock after selling 182,300 shares during the period. Avidity Partners Management LP owned 0.07% of Illumina worth $14,659,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ILMN. Versant Capital Management Inc boosted its holdings in shares of Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company's stock worth $32,000 after buying an additional 146 shares during the period. Golden State Wealth Management LLC bought a new stake in Illumina during the fourth quarter valued at about $32,000. Assetmark Inc. grew its position in shares of Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock valued at $44,000 after purchasing an additional 296 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Illumina in the fourth quarter worth about $45,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Illumina during the 4th quarter worth about $48,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Canaccord Genuity Group dropped their price target on Illumina from $115.00 to $92.00 and set a "hold" rating on the stock in a research report on Tuesday, April 29th. Hsbc Global Res cut shares of Illumina from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Morgan Stanley decreased their price target on shares of Illumina from $150.00 to $136.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 11th. TD Cowen lowered shares of Illumina from a "buy" rating to a "hold" rating and cut their price objective for the company from $177.00 to $140.00 in a research report on Friday, February 7th. Finally, Piper Sandler lifted their target price on Illumina from $185.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.55.

Illumina Price Performance

Shares of NASDAQ:ILMN traded down $3.64 during trading on Tuesday, reaching $74.53. The stock had a trading volume of 1,743,653 shares, compared to its average volume of 2,275,946. The stock has a market capitalization of $11.80 billion, a PE ratio of -9.70, a P/E/G ratio of 1.60 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66. The business's 50-day moving average price is $79.46 and its 200 day moving average price is $114.71.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. As a group, equities analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

Illumina Company 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.