Illumina's stock experienced a significant pre-market plunge of 8.47% on Friday, extending losses from after-hours trading.
The selloff appears driven by investor concerns over the company's mixed fiscal 2026 guidance, despite reporting strong fourth-quarter 2025 results that beat analyst estimates. While Illumina's Q4 performance exceeded expectations, its outlook for the coming year created uncertainty among investors.
Adding to the negative sentiment, JP Morgan cut its price target for Illumina from $130 to $120, reflecting analyst caution about the company's near-term prospects following its latest financial update.