Co-CEO Nancy Prial of Essex Investment Management Company says that while Illumina, Inc. (ILMN) is no longer an undiscovered stock, it is perhaps still misunderstood. The company develops sequencing and array-based solutions for genetic analysis, and still has a positive growth story according to Prial.
“At the time that we purchased Illumina, the company was not the company it is today. But people did not understand the power of their technology and what was possible for this upstart little company,” Prial said. “What we saw was the power of their product.”
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Prial says her firm still owns Illumina because the company continues to have a robust growth story, and is changing the way gene sequencing and analysis is done.
“We want to let our successful positions mature as long as those growth prospects are still intact. Also, we believe there is a disconnect as to how fast and how big this company can ultimately be and what’s currently being discounted in the price of the stock,” Prial said.
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