Billiontoone, Inc. (NASDAQ:BLLN) Short Interest Down 36.2% in May

Billiontoone, Inc. (NASDAQ:BLLN) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totaling 1,465,466 shares, a decrease of 36.2% from the April 30th total of 2,298,545 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 935,515 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Investors Weigh In On Billiontoone

Hedge funds have recently modified their holdings of the company. Rossby Financial LCC bought a new position in Billiontoone during the 4th quarter worth $25,000. Wells Fargo & Company MN acquired a new stake in shares of Billiontoone in the 4th quarter valued at about $76,000. Smartleaf Asset Management LLC acquired a new stake in shares of Billiontoone in the 4th quarter valued at about $80,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Billiontoone in the 4th quarter valued at about $82,000. Finally, Renaissance Capital LLC acquired a new position in Billiontoone during the 4th quarter valued at about $201,000.

Billiontoone Stock Up 3.4%

NASDAQ BLLN opened at $94.25 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 10.58 and a current ratio of 10.92. Billiontoone has a twelve month low of $61.96 and a twelve month high of $138.70. The firm has a market cap of $4.33 billion and a P/E ratio of 171.36. The firm’s fifty day moving average price is $83.81.

Billiontoone (NASDAQ:BLLN) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.33. The firm had revenue of $108.39 million for the quarter, compared to analyst estimates of $95.81 million. During the same period last year, the business earned ($0.39) EPS. The company’s revenue was up 83.8% compared to the same quarter last year. On average, research analysts anticipate that Billiontoone will post 0.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BLLN shares. JPMorgan Chase & Co. increased their price target on Billiontoone from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Guggenheim raised their target price on Billiontoone from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Wall Street Zen raised Billiontoone from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Wells Fargo & Company reduced their target price on Billiontoone from $110.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 5th. Finally, BTIG Research reduced their target price on Billiontoone from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.29.

About Billiontoone

BillionToOne (NASDAQ: BLLN) is a molecular diagnostics company that develops and commercializes high-precision genetic testing solutions based on single-molecule counting technology. The company’s platform is designed to detect and quantify rare genetic variants and chromosomal abnormalities from cell-free DNA, with a primary focus on applications in prenatal screening and other clinical genetic tests where sensitivity and specificity at very low allele fractions are critical.

BillionToOne’s offerings center on assay development and clinical testing workflows that enable non-invasive prenatal testing (NIPT) and targeted molecular diagnostics.