The genomics industry has been the recipient of immense investor attention owing to its crucial role in the genome sequencing of the deadly COVID-19 virus. As the need for gene-based tests is on the rise for next-generation sequencing data for treating several diseases, we think genomics companies Illumina (NASDAQ:ILMN) and CRISPR (CRSP) should benefit. But which of these two stocks is a better buy now? Read more to find out.San Diego, Calif.-based Illumina, Inc. (ILMN) provides sequencing and array-based solutions for genetic and genomic analysis. Its products and services serve customers in a range of markets, enabling genomic solutions in research and clinical settings. In comparison, CRISPR Therapeutics AG (CRSP) is a Basel, Switzerland-based gene-editing company that focuses on developing transformative gene-based medicines for serious human diseases.
Significant developments in the genomics industry have helped researchers quickly identify SARS-CoV-2. Further technological advances, such as the integration of genome-based tests and extensive research and development (R&D), are expected to drive the genomics industry’s growth. According to a The Expresswire report, the genomics market is expected to grow at a 10,8% CAGR over the next five years. Consequently, both CRSP and ILMN should benefit.
ILMN has gained 47.6% over the past year, while CRSP returned 31.5%. Also, ILMN’s 37.8% gains over the past three months are significantly higher than CRSP’s 10.4% returns. And in terms of their past nine months’ performance, ILMN is the clear winner with 75.5% gains versus CRSP’s 11%.