Illumina shares rise on genetic analyzer sales

NEW YORK - Shares of Illumina Inc. rose Thursday after the genetic analysis company said the Genome Institute of Singapore will add four of its gene analyzing systems to its operations. Illumina's stock gained 86 cents, or 2.8 percent, to $31.21 in afternoon trading. Shares have traded between $25.17 and $47.87 over the last 52 weeks. The company's analyzers will be used in a variety of projects, including cancer research. The Genome Institute of Singapore now has six of Illumina's systems. "This announcement, along with our very recent conversations with other major worldwide genome centers, suggests that the large labs may now be beginning to expand their next generation sequencer installed bases after not doing so for the past several months," wrote Cowen and Co. analyst Doug Schenkel in a... [read full story]