Shares of Illumina, Inc. (NASDAQ:ILMN), the leading provider of DNA sequencing technology to academic and commercial laboratories, fell in the fourth quarter after reporting disappointing third quarter financial results. The third quarter shortfall was driven by weak high-throughput instrument sales. However, at the J.P. Morgan Healthcare Conference in January, Illumina announced an exciting new high-throughput sequencing platform, called NovaSeq, which has the potential in future years to deliver the world’s first $100 full human genome. We continue to believe Illumina has a long runway for growth driven by increasing adoption of DNA sequencing in clinical markets such as cancer screening, diagnosis, and treatment. (Neal Kaufman)
From Baron Funds' Baron Opportunity Fund fourth quarter 2016 commentary.
