Illumina ILMN shares are trading lower on Monday following a report that the company will acquire privately-held life sciences firm Grail for $7.1 billion in cash and stock.
Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates revenue from sequencing tools and dedicated consumables (73% of 2019 sales). Illumina's high-throughput technology enables whole genome sequencing in humans and other large organisms. Its lower throughput tools enable applications that require smaller data outputs, such as viral and cancer tumor screening.
Illumina shares were trading down 8.4% at $270.66 on Monday during the time of publication. The stock has a 52-week high of $404.20 and a 52-week low of $196.78.
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