Short Interest in Illumina, Inc. (NASDAQ:ILMN) Grows By 6.2%

Illumina, Inc. (NASDAQ:ILMN) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 4,470,000 shares, a growth of 6.2% from the August 15th total of 4,210,000 shares. Based on an average daily trading volume, of 2,440,000 shares, the short-interest ratio is presently 1.8 days.

Hedge Funds Weigh In On Illumina

A number of large investors have recently made changes to their positions in the stock. Trivant Custom Portfolio Group LLC boosted its stake in shares of Illumina by 166.7% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock worth $27,000 after purchasing an additional 125 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Illumina by 86.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after buying an additional 132 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in Illumina during the second quarter valued at approximately $34,000. Versant Capital Management Inc lifted its position in Illumina by 292.9% during the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Illumina during the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Stock Up 0.6 %

ILMN traded up $0.76 during trading hours on Wednesday, hitting $130.97. 2,219,940 shares of the company’s stock were exchanged, compared to its average volume of 2,041,640. Illumina has a 12-month low of $89.00 and a 12-month high of $148.19. The firm has a 50 day moving average of $124.26 and a 200 day moving average of $120.54. The firm has a market cap of $20.86 billion, a P/E ratio of -15.98 and a beta of 1.15. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.12 by $0.24. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. Analysts predict that Illumina will post 3.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup upped their target price on shares of Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Scotiabank dropped their price objective on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. TD Cowen raised shares of Illumina from a “hold” rating to a “buy” rating and increased their price objective for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. Evercore ISI decreased their target price on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 11th. Finally, Piper Sandler decreased their target price on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.05.

About Illumina

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.