Why Illumina Stock Mashed the Market on Monday
Gene-sequencing stock (NASDAQ: ILMN) was a standout in the biotech sector Monday, with its share-price rise convincingly beating the S 500 index. Investors were cheered by a stock buy made by a high-profile insider. As a result, its shares closed the day almost 3% higher, while the bellwether index slid by almost 0.4%.
The insider doing the buying was none other than Illumina's CEO Jacob Thaysen. According to a regulatory document filed on Monday, Thaysen made three stock purchases the previous Thursday. All told, the CEO picked up 7,300 shares of the biotech at prices ranging from $134.91 to $137.18 apiece. That purchase more than doubled his holdings. According to the regulatory document, he now owns 14,861 shares.
None of these figures are immense when compared to Illumina's position on the stock market. At the moment, the biotech has nearly 159 million shares outstanding, and its market cap approaches $22 billion.
Source Fool.com
Illumina Inc. Stock
Currently there is a rather positive sentiment for Illumina Inc. with 17 Buy predictions and 4 Sell predictions.
With a target price of 177 € there is a hugely positive potential of 53.01% for Illumina Inc. compared to the current price of 115.68 €.
