Bionano Genomics (NASDAQ:BNGO) Stock Price Down 1.7% – Here’s What Happened

Bionano Genomics, Inc. (NASDAQ:BNGO) shares fell 1.7% on Tuesday . The company traded as low as $1.13 and last traded at $1.14. Approximately 91,052 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 130,080 shares. The stock had previously closed at $1.16.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of Bionano Genomics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. HC Wainwright lowered their price target on shares of Bionano Genomics from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Finally, Wall Street Zen upgraded shares of Bionano Genomics to a “hold” rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

Bionano Genomics Stock Performance

The business’s fifty day simple moving average is $1.20 and its 200-day simple moving average is $1.26. The firm has a market cap of $13.09 million, a P/E ratio of -0.26 and a beta of 1.62. The company has a current ratio of 1.84, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09.

Bionano Genomics (NASDAQ:BNGO) last posted its earnings results on Wednesday, May 13th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.12. The company had revenue of $6.69 million during the quarter, compared to analyst estimates of $6.57 million. Bionano Genomics had a negative net margin of 109.94% and a negative return on equity of 71.38%. As a group, sell-side analysts expect that Bionano Genomics, Inc. will post -2.49 earnings per share for the current year.

Institutional Investors Weigh In On Bionano Genomics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BNGO. DRW Securities LLC purchased a new stake in shares of Bionano Genomics in the 4th quarter worth about $258,000. Geode Capital Management LLC boosted its holdings in Bionano Genomics by 148.8% in the fourth quarter. Geode Capital Management LLC now owns 66,766 shares of the company’s stock worth $102,000 after acquiring an additional 39,928 shares in the last quarter. Carret Asset Management LLC boosted its holdings in Bionano Genomics by 76.4% in the fourth quarter. Carret Asset Management LLC now owns 44,100 shares of the company’s stock worth $67,000 after acquiring an additional 19,100 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Bionano Genomics in the fourth quarter worth $57,000. Finally, Jane Street Group LLC bought a new position in shares of Bionano Genomics during the fourth quarter valued at $34,000. 11.35% of the stock is owned by hedge funds and other institutional investors.

Bionano Genomics Company Profile

Bionano Genomics, Inc (NASDAQ: BNGO) develops and commercializes high‐resolution genome analysis tools designed to map structural variants and large‐scale genomic rearrangements. At the core of its technology is the Saphyr® optical genome mapping system, which uses nanochannel arrays to linearize megabase‐length DNA molecules, proprietary fluorescent labeling reagents to highlight specific sequence motifs, and advanced image processing software to detect structural changes with high sensitivity.