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Keith Meister, Corvex Management's chief investment officer, will join Illumina's board starting March 28. He's no stranger to the world of biotech.
The base and pessimistic DCF models implemented in this article suggest that Illumina is undervalued. Illumina expects to reach a growth rate in its revenues of 6%-9% CAGR by 2027. The DNA sequencing market is expected to grow by 14.90%-21.65% CAGR in the following ten years.
Activist investor Keith Meister will join the board of gene-sequencing maker Illumina , and current board member Scott Gottlieb will become chairman, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
Keith Meister's hedge fund Corvex Management has a 2.5% stake in the gene-sequencing machine maker.
ILMN-NashBio's AGD initiative achieves the milestone of completing 250,000 whole genomes.
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Illumina on Monday lowered its annual forecast and said it plans to cut $100 million in spending after China announced a ban on imports of its genetic sequencing instruments.
Beijing banned imports of Illumina's gene-sequencing machines in response to U.S. tariffs.
Illumina was placed on China's list of ‘unreliable entities' in February.
China announced a ban on Tuesday on imports of genetic sequencers from U.S. medical equipment maker Illumina , just minutes after U.S. President Donald Trump's additional 10% tariff on Chinese goods took effect.
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