Illumina Stock (NASDAQ:ILMN), Trade Ideas

Illumina

Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates over 90% of its revenue from sequencing instruments, consumables, and services. 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 also sells microarrays (9% of 2023 sales) that enable lower-cost, focused genetic screening with primarily consumer and agricultural applications.

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On CNBC’s &#34;Mad Money Lightning Round,&#34; Jim Cramer recommended buying  Uber Technologies, Inc.  (NYSE: UBER).

Jim Cramer Isn&#39;t Going With This Tech Company: &#39;It&#39;s Complicated. I&#39;m A Nvidia Guy&#39;

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EU antitrust advisor criticizes decision blocking Illumina&#39;s $7.1 billion bid for Grail, citing overreach. Impact on Qualcomm deal scrutinized. Commission&#39;s jurisdiction challenged amid legal battles. Judges to rule soon, Emiliou&#39;s opinion pivotal.

EU Antitrust Regulators Overstepped in Illumina-Grail Deal, Says Court Adviser

Gene therapy 30281390100_418857d210_o

Carl Icahn halts new challenge to Illumina&#39;s board, sparing the gene sequencing giant a second proxy battle. Focus shifts to legal action over Grail acquisition.

Gene Sequencing Firm Illumina Escapes Carl Icahn&#39;s Second Proxy Battle Amid Grail Divestment Efforts

Illumina Inc

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Shares of life sciences tools stocks are trading higher following strong earnings from Danaher.

Deep-pocketed investors have adopted a bearish approach towards Illumina (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ILMN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Illumina. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 47% leaning bullish and 52% bearish. Among these notable options, 14 are puts, totaling $976,344, and 3 are calls, amounting to $215,359.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $125.0 to $140.0 for Illumina during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of Illumina stands at 408.0, with a total volume reaching 2,886.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Illumina, situated within the strike price corridor from $125.0 to $140.0, throughout the last 30 days.
<h3>Illumina Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713278759_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ILMN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$32.8</td>
<td>$28.8</td>
<td>$32.8</td>
<td>$140.00</td>
<td>$160.7K</td>
<td style="text-align: right;">724</td>
<td style="text-align: right;">87</td>
</tr>
<tr>
<td>ILMN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$15.3</td>
<td>$11.1</td>
<td>$13.2</td>
<td>$130.00</td>
<td>$110.5K</td>
<td style="text-align: right;">91</td>
<td style="text-align: right;">85</td>
</tr>
<tr>
<td>ILMN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$11.4</td>
<td>$7.1</td>
<td>$9.2</td>
<td>$125.00</td>
<td>$109.7K</td>
<td style="text-align: right;">20</td>
<td style="text-align: right;">122</td>
</tr>
<tr>
<td>ILMN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$14.7</td>
<td>$12.9</td>
<td>$12.98</td>
<td>$140.00</td>
<td>$87.2K</td>
<td style="text-align: right;">492</td>
<td style="text-align: right;">204</td>
</tr>
<tr>
<td>ILMN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$15.9</td>
<td>$13.6</td>
<td>$13.6</td>
<td>$140.00</td>
<td>$87.0K</td>
<td style="text-align: right;">492</td>
<td style="text-align: right;">132</td>
</tr>
</tbody>
</table>

<h3>About Illumina</h3>
Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates over 90% of its revenue from sequencing instruments, consumables, and services. 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 also sells microarrays (9% of 2023 sales) that enable lower-cost, focused genetic screening with primarily consumer and agricultural applications.
After a thorough review of the options trading surrounding Illumina, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Illumina's Current Market Status</h3>
<ul>
<li>Trading volume stands at 453,345, with ILMN's price down by -1.94%, positioned at $118.81.</li>
<li>RSI indicators show the stock to be may be approaching oversold.</li>
<li>Earnings announcement expected in 16 days.</li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Illumina, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

What the Options Market Tells Us About Illumina

Illumina's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NYSE">ILMN</a>) short percent of float has risen 5.16% since its last report. The company recently reported that it has 5.21 million shares sold short, which is 3.67% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.27 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Illumina Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712936723_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Illumina has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Illumina's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Illumina's peer group average for short interest as a percentage of float is 5.28%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into Illumina's Recent Short Interest

<a href="https://ec.europa.eu/commission/presscorner/detail/en/ip_24_1964" title="https://ec.europa.eu/commission/presscorner/detail/en/ip_24_1964">https://ec.europa.eu/commission/presscorner/detail/en/ip_24_1964</a>

Eurozone

EU Approved Illumina's Plan To Divest Grail

Barclays analyst Luke Sergott maintains Illumina (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) with a Underweight and raises the price target from $85 to $100.

Price Target

Analyst Ratings

Barclays Maintains Underweight on Illumina, Raises Price Target to $100

Stephens &amp; Co. analyst Mason Carrico reiterates Illumina (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) with a Overweight and maintains $170 price target.

Reiteration

Stephens & Co. Reiterates Overweight on Illumina, Maintains $170 Price Target

Guidance

Management

Illumina Appoints Ankur Dhingra Chief Financial Officer; Co. Reaffirms Q1 And 2024 Guidance

RBC Capital analyst Conor McNamara reiterates Illumina (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) with a Outperform and maintains $253 price target.

RBC Capital Reiterates Outperform on Illumina, Maintains $253 Price Target

On CNBC&rsquo;s &quot;Mad Money Lightning Round,&quot; Jim Cramer recommended buying Uber Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uber#NYSE">UBER</a>). &quot;I think Uber is <a href="https://www.benzinga.com/markets/equities/24/04/38110358/whats-going-on-with-uber-technologies-shares-friday">really well run,&quot; he noted</a>.
Uber&nbsp;recently entered into a new nationwide partnership with&nbsp;The Vitamin Shoppe, bringing the New Jersey-based health and wellness retailer&rsquo;s selection to the Uber Eats app.
When asked about Citigroup Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>), he said, &quot;I feel better about Citi than I have in a long time, but that doesn&rsquo;t mean I&rsquo;m not in favor of Wells Fargo (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wfc#NYSE">WFC</a>).&quot;
Illumina (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ilmn#NASDAQ">ILMN</a>) is &quot;no good,&quot; Cramer said, &ldquo;You want Danaher (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dhr#NYSE">DHR</a>), same business, better company.&quot;
Cramer likes Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), too.
Academy Sports and Outdoors, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aso#NASDAQ">ASO</a>) is just &quot;not compelling to me,&quot; Cramer said.
The &quot;Mad Money&quot; host said he is ok with ResMed Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rmd#NYSE">RMD</a>). &quot;I think the stock&rsquo;s been knocked down because of the GLP-1s, and they&rsquo;ve got very good management,&quot; he added.
Cramer said he is ok with Brookfield Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bn#NYSE">BN</a>).
Super Micro Computer, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smci#NASDAQ">SMCI</a>) is &quot;complicated because you know I am an Nvidia (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) guy, hold it, don&rsquo;t trade it. I am not going to go with SMCI because that&rsquo;s the not as good Nvidia,&quot; Cramer said.
Cramer said &quot;no&quot; to BlackBerry Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bb#NYSE">BB</a>).
<h3>Price Action:</h3>
<ul>
<li>Amazon shares gained 2.8% to settle at $185.07 on Friday.</li>
<li>Illumina shares rose 1.4% to close at $127.75 during Friday&rsquo;s session.</li>
<li>Shares of Uber gained 3% to close at $77.16 on Friday.</li>
<li>Academy Sports and Outdoors shares gained 1.1% to settle at $63.45.</li>
<li>Brookfield shares gained 0.6% to settle at $40.32 during Friday&rsquo;s session.</li>
<li>Citigroup shares gained 1.1% to close at $61.60.</li>
<li>ResMed shares gained 2% to settle at $188.76 on Friday.</li>
<li>Super Micro Computer shares fell 1% to close at $948.02 during Friday&rsquo;s session.</li>
<li>BlackBerry shares fell 2.1% to settle at $2.82.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38087713/over-1m-bet-on-this-industrial-stock-check-out-these-4-stocks-insiders-are-buying"> Over $1M Bet On This Industrial Stock? Check Out These 4 Stocks Insiders Are Buying </a>
Image: Shutterstock

Jim Cramer Isn't Going With This Tech Company: 'It's Complicated. I'm A Nvidia Guy'

New Data Will Highlight Use of GRAIL's Targeted Methylation Platform Across Early Cancer Detection and Precision Oncology
Longer-term Data Underscore the Potential Value of GRAIL's Galleri&#xAE; for Repeat Screening for Clinically Significant Cancers
GRAIL, LLC, a healthcare company whose mission is to detect cancer early when it can be cured, will present new data on the clinical utility of its Methylation Platform across the cancer continuum, and the impact of multi-cancer early detection (MCED) testing in guiding diagnostic evaluation at the American Association for Cancer Research (AACR) Annual Meeting in San Diego, Calif., April 5-10, 2024.
"The data we are presenting at AACR continue to support the potential of GRAIL's Methylation Platform to transform cancer care and the potential benefits of population-scale asymptomatic (or early) cancer detection," said Jeffrey Venstrom, MD, Chief Medical Officer at GRAIL. "Our longer-term research demonstrates that adding MCED tests like Galleri to guideline-recommended screenings can help direct diagnostic evaluation and underscores the potential value of repeat MCED screening. Additionally, new data from our Methylation Platform suggests the ability to identify relevant cancer subtypes using a single blood test, helping to enable precision medicine and biomarker discovery."
In the MCED setting, GRAIL is honored to present 3 oral presentations at AACR:
<ul>
<li>Demonstrating the first real-world evaluation of repeat MCED / Galleri testing showing the potential value of adding repeat MCED screening. The timeframe for repeat testing occurred 10-18 months from initial MCED testing.</li>
<li>Exhibiting 4-year overall survival follow-up demonstrating the prognostic significance of detecting cancer with a methylation-based cfDNA platform like Galleri.</li>
<li>Illustrating data demonstrating the power of Galleri to preferentially detect high grade, clinically significant prostate cancer over indolent cases.</li>
</ul>
In the precision oncology setting, GRAIL will discuss the adaptability of its Methylation Platform in identifying cancer histological and molecular subtypes through blood samples.
Oral Presentations
Title: Early Real-World Experience with Repeat Multi-Cancer Early Detection (MCED) Testing Abstract Number: #3891 Session Category: Clinical Research Session Title: Application of Real-World Evidence to Cancer Care Date/Time: Monday, Apr. 8, 2024 from 2:30 PM - 4:30 PM Location: Room 6 CF - Upper Level - Convention Center
Title: A Targeted Methylation-Based Multi-Cancer Early Detection Blood Test Preferentially Detects High-Grade Prostate Cancer and Minimizes Overdiagnosis Abstract Number: #1264 Session Category: Prevention / Early Detection / Interception Session Title: Multi-Cancer Early Detection Testing: Where Are We? Date/Time: Sunday, Apr. 7, 2024 from 3:00 PM - 5:00 PM Location: Room 28 - Upper Level - Convention Center
Title: Prognostic Significance of Blood-Based Multi-Cancer Detection in Cell-Free DNA: 4-Year Outcomes Analysis Abstract Number: #3895 Session Category: Clinical Research Session Title: Early Detection and Progression Biomarkers Date/Time: Monday, Apr. 8, 2024 from 2:30 PM - 4:30 PM Location: Ballroom 6 B - Upper Level - Convention Center
Poster Sessions
Title: PATHFINDER 2: A Prospective Study to Evaluate Safety and Performance of a Multi-Cancer Early Detection Test in a Population Setting Abstract Number: #4784 Session Category: Prevention / Early Detection / Interception Session Title: Population-Based Screening Date/Time: Tuesday, Apr. 9, 2024 from 9:00 AM - 12:30 PM Location: Poster Section 32
Title: Identification of Cancer Subtypes with a ctDNA-based Targeted Methylation Assay Abstract Number: #7566 Session Category: Clinical Research Session Title: Molecular Biology in Clinical Oncology: Characterizing and Modulating Epigenetics and Gene Expression Date/Time: Wednesday, Apr. 10, 2024 from 9:00 AM - 12:30 PM Location: Poster Section 43
Title: Most Cancer Deaths are Unaddressed by Current Screening Paradigms Abstract Number: #6075 Session Category: Prevention / Early Detection / Interception Session Title: Biomarker-Based Screening Date/Time: Tuesday, Apr. 9, 2024 from 1:30 PM - 5:00 PM Location: Poster Section 31
Title: Association of Circulating Free DNA (cfDNA) Maximum Variant Allele Frequency (mVAF) Levels with Clinical Outcomes in Patients (pts) with Metastatic Nonsquamous Non-small Cell Lung Cancer (NSCLC) Treated with Pembrolizumab (pembro) + Chemotherapy (chemo) in the Phase 2 KEYNOTE-782 Trial Abstract Number: #LB107 Session Category: Clinical Research Session Title: Late-Breaking Research: Clinical Research 1 Date/Time: Monday, Apr. 8, 2024 from 9:00 AM - 12:30 PM Location: Poster Section 51

Biotech

GRAIL Presents New Data On Galleri And Its Methylation Platform At The Annual American Association For Cancer Research Meeting

In a setback for EU antitrust regulators, an adviser to Europe&#8217;s top court has criticized the decision to block&nbsp;Illumina Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) $7.1 billion bid for&nbsp;Grail Inc., stating that they&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/23/12/36202820/illumina-versus-european-commission-legal-battle-over-grail-acquisition-reaches-critical-stage" rel="noreferrer noopener">exceeded their powers</a>.&nbsp;
The adviser&#8217;s opinion, if upheld by judges, could impact the EU competition enforcer&#8217;s approach to other merger deals, including one involving&nbsp;Qualcomm Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>).
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/03/37671511/gene-sequencing-firm-illumina-escapes-carl-icahns-second-proxy-battle-amid-grail-divestment-effort" rel="noreferrer noopener">Gene Sequencing Firm Illumina Escapes Carl Icahn&#8217;s Second Proxy Battle Amid Grail Divestment Efforts</a>.
The European Commission invoked Article 22 in 2021 to assess the Illumina-Grail deal despite it falling below the EU merger revenue threshold, following requests from several EU countries.&nbsp;
Despite Illumina completing the transaction before regulatory approval, the Commission vetoed the deal and ordered its unwinding, leading to legal challenges from Illumina.
Citing CJEU Advocate General Nicholas Emiliou, Reuters highlighted that the General Court&#8217;s judgment was flawed in its interpretation of Article 22.&nbsp;
He emphasized that member states cannot request the Commission to review a concentration without a Community dimension, even if they lack the authority to review it under national law.
Emiliou warned against granting the Commission broad powers, stating it would enable them to review almost any concentration globally, regardless of turnover or presence in the EU.&nbsp;
He criticized the proposed procedures&#8217; lack of efficiency, predictability, and legal certainty.
Illumina&nbsp;welcomed the recommendation, stating that the Commission&#8217;s assertion of jurisdiction over the merger was improper.&nbsp;
In December, Illumina agreed to divest Grail as the companies battled with the U.S. and European antitrust regulators for almost three years after&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/23/12/36283288/illumina-grail-8b-saga-ends-after-it-battles-regulators-for-3-years" rel="noreferrer noopener">announcing the acquisition</a>.
Judges are expected to rule in the coming months, with their decisions likely influenced by Emiliou&#8217;s non-binding opinion.&nbsp;
Price Action:&nbsp;ILMN shares are up 3.60% at $137.98 on the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Illumina shares are trading higher after a European court reportedly ruled that EU antitrust regulators exceeded their powers by blocking the company's bid for Grail.

Illumina Shares Higher After Europe's Top Court Said EU Antitrust Regulators Exceeded Powers By Blocking Bid For Grail

OTR Global downgrades Illumina (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) from Positive to Mixed.

Downgrades

OTR Global Downgrades Illumina to Mixed

GRAIL, LLC, a healthcare company whose mission is to detect cancer early when it can be cured, announced today that participants from Japan, via a collaboration with AstraZeneca (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>), will have their samples tested using GRAIL&#39;s novel risk classification test on its Methylation Platform. This assay has been validated for recurrence risk classification in newly diagnosed Stage I lung adenocarcinoma.
GRAIL&#39;s Methylation Platform enables tissue-free, blood-based cancer detection that can be customized for a suite of precision applications across hematological and solid tumors, including risk stratification, molecular subtyping, and molecular response. This study with AstraZeneca aims to demonstrate the test&#39;s capability to deliver results within 10 days without the need for tumor tissue, supporting use in future global pharmaceutical clinical trials.
&quot;The development of this risk classification test as part of GRAIL&#39;s clinical oncology portfolio is a significant milestone in our ongoing commitment to support patient care with novel, non-invasive tests for early detection and beyond,&quot; said Jeffrey Venstrom, MD, Chief Medical Officer at GRAIL. &quot;GRAIL&#39;s tissue-free, blood-only methodology is designed to aid in clinical trial selection with potential for customizable diagnostic approaches that can enable precision oncology.&quot;
In 2022, GRAIL&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fgrail.com%2Fpress-releases%2Fgrail-announces-strategic-collaboration-with-astrazeneca-to-develop-companion-diagnostic-tests-to-enable-the-treatment-of-early-stage-cancer%2F&amp;esheet=53910972&amp;newsitemid=20240318431747&amp;lan=en-US&amp;anchor=announced&amp;index=1&amp;md5=a7ea42d6d9144b54b602c6b17be518f2">announced</a>&nbsp;a broad strategic collaboration with AstraZeneca to develop and commercialize companion diagnostic (CDx) assays for use with AstraZeneca&#39;s therapies.
In December 2023, GRAIL&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fgrail.com%2Fpress-releases%2Fvalidation-data-on-a-novel-prognostic-test-developed-by-grail-in-stage-i-lung-cancer-presented-at-north-america-conference-on-lung-cancer%2F&amp;esheet=53910972&amp;newsitemid=20240318431747&amp;lan=en-US&amp;anchor=announced&amp;index=2&amp;md5=1f0b898218b1a81f615d37ec87e6a032">announced</a>&nbsp;the analytical and clinical validation of a novel prognostic test in Stage I lung adenocarcinoma.

GRAIL Announces Novel Risk Classification Test On Its Methylation Platform To Be Used In Lung Cancer Study

Activist investor&nbsp;Carl Icahn&nbsp;has opted against pursuing a fresh challenge to Illumina Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) board, a move that spares the U.S. gene sequencing company from facing its second proxy battle in consecutive years.&nbsp;
Previously, Icahn had expressed intentions to remove additional directors from Illumina&#8217;s board, attributing the company&#8217;s substantial market value decline and the ill-fated $7.1 billion Grail acquisition to mismanagement by the existing board members.&nbsp;
Citing sources familiar with the matter, Reuters highlighted that Icahn&#8217;s decision to forgo another proxy contest stemmed from Illumina&#8217;s efforts to address antitrust concerns by divesting Grail.
Last year in December,&nbsp;Illumina&nbsp;agreed to divest cancer diagnostic test maker&nbsp;Grail&nbsp;as the companies battled with the U.S. and European antitrust regulators for almost three years after&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/23/12/36283288/illumina-grail-8b-saga-ends-after-it-battles-regulators-for-3-years" rel="noreferrer noopener">announcing the acquisition</a>.
Despite shelving the proxy contest, the 88-year-old billionaire investor remains committed to his legal action against Illumina&#8217;s board, alleging breaches of fiduciary duties in connection with the Grail acquisition.&nbsp;
In December,&nbsp;Carl Icahn&nbsp;said he plans to oust legacy conflicted directors at&nbsp;Illumina, laying the groundwork for a second board challenge at the San Diego gene-sequencing company only months after shareholders elected&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/23/12/36297967/carl-icahn-escalates-boardroom-battle-at-illumina-seeks-to-remove-more-directors-after-grail-dives" rel="noreferrer noopener">one of his director candidates</a>.
Illumina reportedly clashed with EU antitrust regulators, alleging an overreach in their investigation into&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/23/12/36202820/illumina-versus-european-commission-legal-battle-over-grail-acquisition-reaches-critical-stage" rel="noreferrer noopener">the Grail acquisition</a>.
A credit ratings agency, Fitch, estimated Grail&#8217;s annual operating losses to hover around $600 million, primarily driven by extensive investments in product development and regulatory clearance endeavors.&nbsp;
In its fourth quarter 2023 earnings release, Illumina said that while it continues to move as quickly as possible to resolve GRAIL, the company is focusing its financial outlook on Core Illumina, as the specific timing and impact of the Grail&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37034941/dna-sequencing-kit-provider-illuminas-q4-earnings-edge-above-street-estimates-works-to-resolve-grai" rel="noreferrer noopener">divestment remains uncertain</a>.
Price Action:&nbsp;ILMN shares are down 0.21% at $132.43 on the last check Wednesday.
Photo via Wikimedia Commons

Gene Sequencing Firm Illumina Escapes Carl Icahn's Second Proxy Battle Amid Grail Divestment Efforts

Illumina shares are trading lower after Carl Icahn reportedly dropped a threat to start another proxy battle with the board.

Carl Icahn Drops Threat To Challenge Illumina's Board Of Directors, Sources Say

Deep-pocketed investors have adopted a bearish approach towards Illumina (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ILMN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Illumina. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 55% bearish. Among these notable options, 6 are puts, totaling $1,422,623, and 12 are calls, amounting to $1,278,425.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $136.0 and $200.0 for Illumina, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Illumina's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Illumina's significant trades, within a strike price range of $136.0 to $200.0, over the past month.
<h3>Illumina Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1709829964_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ILMN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$200.00</td>
<td>$649.0K</td>
<td style="text-align: right;">465</td>
<td style="text-align: right;">108</td>
</tr>
<tr>
<td>ILMN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$140.00</td>
<td>$318.9K</td>
<td style="text-align: right;">16</td>
<td style="text-align: right;">322</td>
</tr>
<tr>
<td>ILMN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$200.00</td>
<td>$317.7K</td>
<td style="text-align: right;">465</td>
<td style="text-align: right;">108</td>
</tr>
<tr>
<td>ILMN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$140.00</td>
<td>$197.4K</td>
<td style="text-align: right;">58</td>
<td style="text-align: right;">305</td>
</tr>
<tr>
<td>ILMN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$140.00</td>
<td>$196.0K</td>
<td style="text-align: right;">58</td>
<td style="text-align: right;">468</td>
</tr>
</tbody>
</table>

<h3>About Illumina</h3>
Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates over 90% of its revenue from sequencing instruments, consumables, and services. 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 also sells microarrays (9% of 2023 sales) that enable lower-cost, focused genetic screening with primarily consumer and agricultural applications.
After a thorough review of the options trading surrounding Illumina, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Illumina Standing Right Now?</h3>
<ul>
<li>With a trading volume of 318,683, the price of ILMN is up by 0.79%, reaching $136.2.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 47 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Illumina</h3>
2 market experts have recently issued ratings for this stock, with a consensus target price of $214.0.
<ul>
<li>An analyst from RBC Capital downgraded its action to Outperform with a price target of $258. </li>
<li>An analyst from Stephens &amp; Co. has revised its rating downward to Overweight, adjusting the price target to $170. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Illumina, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

A Closer Look at Illumina's Options Market Dynamics

Although U.S. stocks closed lower on Monday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Allegion </h3>
<ul>
<li>The Trade: Allegion plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alle#NYSE">ALLE</a>) President and CEO John H Stone <a href="https://www.benzinga.com/quote/ALLE/analyst-ratings"> acquired a total of 10,000 shares </a> an average price of $132.41. To acquire these shares, it cost around $1.32 million.</li>
<li>What&rsquo;s Happening: On Feb. 20, Allegion posted better-than-expected quarterly earnings.</li>
<li>What Allegion Does: Allegion is a global security products company with a portfolio of leading brands such as Schlage, Von Duprin, and LCN.</li>
</ul>
<h3>Heartland Express </h3>
<ul>
<li>The Trade: Heartland Express, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/htld#NASDAQ">HTLD</a>) 10% owner Julie Durr acquired a total of 14,933 shares at an average price of $12.39. To acquire these shares, it cost around $185,024.</li>
<li>What&rsquo;s Happening: On Jan. 31, Heartland Express posted a profit for the fourth quarter.</li>
<li>What Heartland Express Does: Heartland Express Inc is engaged in providing truckload services across the United States and Canada.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Tile Shop Holdings </h3>
<ul>
<li>The Trade: Tile Shop Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ttsh#NASDAQ">TTSH</a>) 10% owner Pleasant Lake Onshore Feeder Fund LP <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 98,000 shares </a> at an average price of $6.53. To acquire these shares, it cost around $639,991.</li>
<li>What&rsquo;s Happening: Tile Shop said it will release financial results for the fourth quarter on Feb. 29, 2024.</li>
<li>What Tile Shop Holdings Does: Tile Shop Holdings Inc is a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories in the United States.</li>
</ul>
<h3>Illumina </h3>
<ul>
<li>The Trade: Illumina, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ilmn#NASDAQ">ILMN</a>) CEO Jacob Thaysen <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 7,330 shares </a> at an average price of $135.29. The insider spent around $991,672 to buy those shares.</li>
<li>What&rsquo;s Happening: On Feb. 8, Illumina posted upbeat quarterly earnings.</li>
<li>What Illumina Does: Illumina provides tools and services to analyze genetic material with life science and clinical lab applications.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/02/37327879/macys-lowes-and-3-stocks-to-watch-heading-into-tuesday"> Macy&#39;s, Lowe&#39;s And 3 Stocks To Watch Heading Into Tuesday </a>
&nbsp;

Pre-Market Outlook

ALLE

HTLD

TTSH

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Stocks with the least price swings, most attractive option-sale candidates - JPM

ROBO ETF: A Diversified Investment Into The Future

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
At one point Cathie Wood was the hottest money manager on Wall Street. Her family of Ark Invest exchange-traded funds (ETF) grew at a blistering pace, at one point doubling the returns for investors. But the tech sector downturn was hard on her funds, and she has lagged behind the S&amp;P 500.



Over the past three years, her ETFs are down an average of 50% while the broad index is up almost 25%. That 75 percentage point delta is a harsh reality for some investors. But it still pays to keep abreast of what Wood buys and sells. Her Big Ideas review each year keeps us up to date on what she believes will be life-defining changes in the future market.



And that&rsquo;s just it. Wood is still looking into the future, so her early losses could just be a reflection of being early to market before the seismic shifts she anticipates have materialized.&nbsp;



Wood has been spectacularly wrong on some things. It gets harder to see her forecast of Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) ever being a $3,000 per share stock. Yet, she&rsquo;s seen some home runs too. Last year Wood was the top-performing fund manager for actively traded funds. Her Ark Next Generation Internet ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/arkw-stock-quote/">ARKW</a>) returned 97% for investors, the Ark Fintech Innovation ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/arkf-stock-quote/">ARKF</a>) returned 93% and the Ark Innovation ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/arkk-stock-quote/">ARKK</a>) was up almost 68%.



You can&rsquo;t ever count her out. So here are four Cathie Wood stocks being bought and three that she is selling.&nbsp;



<h2>Roku (ROKU)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/roku-stock-300x169.jpg" alt="Logo for Roku, Inc. (ROKU) displayed on a glass building"><div>Source: Michael Vi / Shutterstock</div></div>Connected TV (CTV) leader Roku (NASDAQ:<a href="https://investorplace.com/stock-quotes/roku-stock-quote/">ROKU</a>) is seen as one of the companies best positioned to take advantage of one of those game-changing trends Wood envisions.&nbsp;



In her Big Ideas 2023 report, Wood forecast the digital consumer will create a $22 trillion opportunity. While there are several avenues they will take to achieve it, the <a href="https://investorplace.com/2023/10/7-stocks-to-cash-in-on-this-little-known-22-5-trillion-opportunity/">growth of connected TV</a> is seen as a critical growth market for it to happen. Despite 85% of all U.S. homes having access to at least one CTV, there was only 35% penetration for digital advertising. Roku&rsquo;s operating system is the largest on the market and is bigger than its next three competitors combined.



Wood was a big buyer of Roku stock beginning in mid-February. Her holdings across her funds went from 8.3 million one day to over 10.1 million the next, and they continue to climb. Wood <a href="https://cathiesark.com/ark-combined-holdings-of-roku">owns 11.7 million shares</a> as of this writing. At around $60 a share, her stake is worth approximately $702 million.



Roku stock is down 34% year-to-date (YTD), and its sharp fall coincides with Wood&rsquo;s big buys. The CTV stock <a href="https://investorplace.com/2024/02/why-is-roku-stock-down-today-feb-20th/">got rocked by news</a> Walmart (NYSE:<a href="https://investorplace.com/stock-quotes/wmt-stock-quote/">WMT</a>) was buying smart TV maker Vizio (NYSE:<a href="https://investorplace.com/stock-quotes/vzio-stock-quote/">VZIO</a>), but obviously Wood sees Roku still coming out on top.



<h2>Blade Air Mobility (BLDE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/blde-stock-1-300x169.jpg" alt="The Blade Air Mobility (BLDE) logo displayed on a smartphone screen."><div>Source: Wirestock Creators / Shutterstock.com</div></div>Wood&rsquo;s purchase of Blade Air Mobility (NASDAQ:<a href="https://investorplace.com/stock-quotes/blde-stock-quote/">BLDE</a>) stock isn&rsquo;t quite so dramatic as with Roku. But she purchased 400,000 shares of the urban mobility company. That brings her <a href="https://cathiesark.com/ark-combined-holdings-of-blde">total holdings to 6.6 million</a> shares. The stock has been moving higher over the past month, though on no company-specific news.



However, the air taxi market is generating considerable interest, with leaders like Joby Aviation (NYSE:<a href="https://investorplace.com/stock-quotes/joby-stock-quote/">JOBY</a>) and Archer Aviation (NYSE:<a href="https://investorplace.com/stock-quotes/achr-stock-quote/">ACHR</a>) advancing through the Federal Aviation Administration&rsquo;s (FAA) regulatory process. Both electric vertical takeoff and landing (eVTOL) stocks are looking to launch their commercial services in 2025.



Unlike those companies, though, Blade already offers air mobility services. Not the eVTOL type, but rather via helicopters. It is seeking to use its expertise in that venue as a medical transport leader to <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1779128/000177912824000012/blde-20240312.htm">give it a wedge in that market</a> when eVTOL aircraft become a reality.



As a result, Blade&rsquo;s other advantage is it is already generating revenue from its services. Although operating at a loss, it is looking to cut costs by acquiring more aircraft. Currently, it uses an asset-light model, but that will slowly transition going forward.



<h2>Teladoc (TDOC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/tdoc-stock-2-300x169.jpg" alt="The Teladoc logo through a magnifying glass."><div>Source: Postmodern Studio / Shutterstock.com</div></div>Remote medical care specialist Teladoc (NASDAQ:<a href="https://investorplace.com/stock-quotes/tdoc-stock-quote/">TDOC</a>) should be doing better than it is but continues to see its share price decline. Wood obviously sees that as an opportunity because she recently <a href="https://cathiesark.com/ark-combined-holdings-of-tdoc#google_vignette">picked up almost 1 million shares</a> over the past two weeks. She now holds 15.8 million shares.



Teladoc thrived during the pandemic. Because in-person doctor visits became nearly impossible, telemedicine really burgeoned. Virtual visits soared in both the U.S. and globally. And Teladoc&rsquo;s chronic care programs became a valuable additional revenue stream. Patients discovered the ease of appointment scheduling and speaking with a doctor at a convenient time were a positive experience.



Further, Teladoc was a fast-grower prior to Covid-19, and it became a rocket ship during the health crisis. Unforeseen to many was that after the pandemic&rsquo;s end, people would just go back to their normal routines. While more people are able to access its services, people apparently still prefer the in-person visit.&nbsp;



Worse was Teladoc&rsquo;s acquisition of digital health company Livongo Health for $18.5 billion. The synergies from adding care for diabetes monitoring and remote monitoring never materialized. Teladoc stock has <a href="https://investorplace.com/2024/04/tdoc-stock-is-down-95-since-2021-now-the-teladoc-ceo-is-leaving/">lost 95% of its value</a> from its IPO. Although Wood remains hopeful about a recovery, it seems hard to imagine TDOC stock regaining its pandemic magic.



<h2>Pacific Biosciences (PACB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/shutterstock_1726134715-300x169.png" alt="Biochemical/biotech research scientist team working with microscope"><div>Source: Mongkolchon Akesin / Shutterstock.com</div></div>Biotech Pacific Biosciences (NASDAQ:<a href="https://investorplace.com/stock-quotes/pacb-stock-quote/">PACB</a>) is another stock that has seen better days. Shares are already down 69% in 2024 and are off 79% from their 52-week high. Wood has been a prolific buyer of PACB stock and <a href="https://cathiesark.com/ark-combined-holdings-of-pacb">owns 31.4 million shares</a> of the maker of genetic sequencing equipment for biotechs.



In Wood&rsquo;s Big Ideas 2024, she <a href="https://investorplace.com/2024/02/7-stocks-cathie-wood-is-still-loading-up-on-in-q1/">highlights precision therapies</a> for curing previously incurable diseases. Wood forecasts such therapies growing at a 28% compounded annual growth rate (CAGR) to reach $4.5 trillion by 2030. She says &#8203;&#8203;innovative therapies powered by artificial intelligence (AI), CRISPR gene editing and new sequencing technologies will rule the day.



Indeed, Pacific Biosciences is not some startup, but a company with over two decades of experience. And yet it can&rsquo;t gain traction. Despite revenue nearly doubling, PACB remains a money-losing operation. Also, the market is very competitive with Ilumina (NASDAQ:<a href="https://investorplace.com/stock-quotes/ilmn-stock-quote/">ILMN</a>) being a dominant player. While Wood&rsquo;s big bet should be winning, it still trades in its historical range. And there doesn&rsquo;t seem to be any indication things will change.



<h2>Nu Holdings (NU)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/digital-banking-1600-300x169.png" alt="hand using online banking and icon on tablet screen device in coffee shop"><div>Source: PopTika / Shutterstock</div></div>Turning to stocks Wood was selling, she <a href="https://cathiesark.com/ark-combined-holdings-of-nu">dumped about 400,000 shares</a> of Nu Holdings (NYSE:<a href="https://investorplace.com/stock-quotes/nu-stock-quote/">NU</a>) last week. She has been steadily selling down her position in the Brazilian digital bank, though there was a buying spike in early March.



As part of Wood&rsquo;s belief in the digital transformation of finance, it&rsquo;s easy to see why she liked the stock. She&rsquo;s not the only one. Even Warren Buffett <a href="https://investorplace.com/2024/04/stock-stinkers-3-warren-buffett-holdings-disappointing-investors-in-2024/">owns a few shares</a> in Berkshire Hathaway (NYSE:<a href="https://investorplace.com/stock-quotes/brk-a-stock-quote/">BRK-A</a>)(NYSE:<a href="https://investorplace.com/stock-quotes/brk-b-stock-quote/">BRK-B</a>). While Nu Holdings was probably a purchase of one of Buffett&rsquo;s investment managers (Buffett tends to only make purchases of $1 billion or more), it still highlights the interest the digital bank holds for asset managers.



Half of the adult Brazilian population uses Nu&rsquo;s services. But it continues to add new customers every quarter while expanding into Mexico and Colombia.



NU&rsquo;s stock is up 34% YTD and 140% higher over the past year. Even with the sales, Wood still owns 3.9 million shares giving her a sizable stake in NU&rsquo;s future growth potential.



<h2>UiPath (PATH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/path-stock-1-300x169.jpg" alt="A magnifying glass zooms in on the website homepage of UiPath (PATH)."><div>Source: dennizn / Shutterstock.com</div></div>UiPath (NASDAQ:<a href="https://investorplace.com/stock-quotes/path-stock-quote/">PATH</a>) is the fifth largest stock in Wood&rsquo;s Ark Innovation ETF, representing <a href="https://cathiesark.com/ark-combined-holdings-of-path">5.7% of the fund&rsquo;s total</a>. And surprisingly, PATH is the largest AI stock she owns with over 28.8 million. That&rsquo;s not such an eye-opener since Wood famously predicted that with global adoption of AI, she believes the global economy will enjoy a <a href="https://investorplace.com/2024/02/profitable-pivots-3-companies-that-look-unrecognizable-thanks-to-ai/">$200 trillion increase in productivity</a> by 2030.



Specifically, UiPath is a business automation specialist. In short, it means it develops software for customers to automate repetitive digital tasks. Its platform gives clients access to pre-built components that can be combined to automate business processes called robotic process automation (RPA).



The stock is down 19% YTD as inflation, high interest rates and global conflicts have impeded customer spending. Even so, UiPath saw revenue climb 24% to over $1 billion last year. Such growth may be more difficult going forward as more companies like Salesforce (NYSE:<a href="https://investorplace.com/stock-quotes/crm-stock-quote/">CRM</a>) <a href="https://appexchange.salesforce.com/appxListingDetail?listingId=a0N3A00000G0nmRUAR">add more RPA bots</a> to perform repetitive tasks. It might explain why Wood is slowly backing away from PATH stock.



<h2>Twilio (TWLO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/twlo1600-1-300x169.png" alt='The brand logo of the US company "Twilio" on the display of a smartphone (focus on the brand logo), TWLO stock'><div>Source: David Esser / Shutterstock.com</div></div>Wood has all but sold off her entire 6 million share position in Twilio (NASDAQ:<a href="https://investorplace.com/stock-quotes/twlo-stock-quote/">TWLO</a>) this year. She has <a href="https://cathiesark.com/ark-combined-holdings-of-twlo">about 12,000 shares</a> remaining at this writing. The cloud communications stock is down 20% in 2024.



The company is under pressure from activist investors to explore strategic alternatives. This usually means selling the whole company, or at the least divesting its data and applications business.



It&rsquo;s a surprising turn of events for a company that Wood hailed last year as a part of &ldquo;<a href="https://ark-funds.com/articles/commentary/investing-in-artificial-intelligence/">AI&rsquo;s sleeper wave</a>&rdquo; (UiPath was part of it too). By that she meant stocks flying below investors&rsquo; radar. She said, &ldquo;Twilio seems best positioned to introduce artificial intelligence into customer communication channels.&rdquo;



Wood was expecting the normalization of corporate spending patterns to help fuel AI&rsquo;s growth in communications. It&rsquo;s why she said Ark Invest had &ldquo;long-term conviction in Twilio.&rdquo; Apparently the long-term was about six months. With sharks circling the water on Twilio, though, it&rsquo;s not surprising to see Wood sell out of this stock.



On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L&rsquo;Express, and numerous other news outlets.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/the-cathie-wood-stock-shuffle-4-names-shes-loving-3-shes-leaving/">The Cathie Wood Stock Shuffle: 4 Names She&#8217;s Loving, 3 She&#8217;s Leaving</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The Cathie Wood Stock Shuffle: 4 Names She's Loving, 3 She's Leaving

Top high growth investment ratio stocks from each sector - GS

Baron Focused Growth Fund Q1 2024 Shareholder Letter

ACGL

ACHR

ADSK

APTV

ARKF

ARKK

ARKQ

ARKW

ATOXF

AXON

AZTA

BIIB

BIRK

BLDE

BNTX

CACC

CDNS

CPRI

CSGP

DDOG

DLTR

DXCM

FANG

FANUF

FANUY

FFIV

FIGS

FSLR

GEAGF

GOOGL

GRMN

IBKR

IDXX

INCY

INTC

INTU

IRBO

IRDM

ISRG

JNPR

KEYS

KYCCF

MPWR

MTCH

NTAP

ORCL

PACB

PATH

PAYC

PODD

REGN

ROBO

ROKU

SNPS

SPOT

TDOC

TRMB

TSLA

TWLO

VZIO

ZBRA

Earnings

Press Releases

Illumina Reports Financial Results for Fourth Quarter and Fiscal Year 2023

Icahn Enterprises L.P. Announces Management & Financial Update

ILLUMINA ALERT: Bragar Eagel & Squire, P.C. is Investigating Illumina, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

GRAIL Announces Novel Risk Classification Test to Be Used in Lung Cancer Study

GRAIL Presents New Data on Galleri® and Its Methylation Platform at the Annual American Association for Cancer Research (AACR) Meeting

Illumina to Announce First Quarter 2024 Financial Results on Thursday, May 2, 2024

Illumina appoints Ankur Dhingra Chief Financial Officer, Jakob Wedel Chief Strategy and Corporate Development Officer

Summit Therapeutics Appoints Dr. Mostafa Ronaghi, Renowned Executive and Genomicist, to its Board of Directors

Illumina's planned divestment of GRAIL approved by the European Commission

SMMT

Agilent Technologies

AbCellera Biologics

Avantor

Azenta

Bio-Rad Laboratories, Inc. Class A Common Stock

Bio-Rad Laboratories

Bruker

Charles River Laboratories International, Inc. Common Stock

Charles River

Danaher

Evotec SE - American Depositary Shares each representing 1/2 of one ordinary share