Cinctive Capital Management LP Acquires 84,655 Shares of Illumina, Inc. (NASDAQ:ILMN)

Cinctive Capital Management LP increased its holdings in Illumina, Inc. (NASDAQ:ILMN) by 188.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,510 shares of the life sciences company’s stock after buying an additional 84,655 shares during the period. Illumina comprises approximately 0.9% of Cinctive Capital Management LP’s investment portfolio, making the stock its 21st biggest holding. Cinctive Capital Management LP owned about 0.08% of Illumina worth $16,889,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in shares of Illumina by 51.2% in the first quarter. Tidal Investments LLC now owns 9,901 shares of the life sciences company’s stock worth $1,361,000 after buying an additional 3,352 shares during the last quarter. Comerica Bank boosted its position in Illumina by 22.2% in the first quarter. Comerica Bank now owns 32,070 shares of the life sciences company’s stock valued at $4,404,000 after buying an additional 5,819 shares during the last quarter. Virtu Financial LLC acquired a new position in Illumina in the 1st quarter worth approximately $271,000. Cetera Investment Advisers increased its holdings in Illumina by 361.1% in the 1st quarter. Cetera Investment Advisers now owns 14,617 shares of the life sciences company’s stock worth $2,007,000 after buying an additional 11,447 shares during the period. Finally, Cetera Advisors LLC purchased a new position in Illumina during the 1st quarter worth approximately $610,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $144.15 on Monday. The stock has a market capitalization of $22.86 billion, a P/E ratio of -14.47 and a beta of 1.13. The firm’s 50-day moving average price is $141.88 and its two-hundred day moving average price is $126.03. Illumina, Inc. has a 52-week low of $99.23 and a 52-week high of $156.66. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.88 by $0.26. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. As a group, sell-side analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ILMN. Robert W. Baird boosted their target price on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Thursday, October 17th. Piper Sandler reduced their price target on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Daiwa America upgraded Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Finally, UBS Group lifted their target price on shares of Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.00.

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.