Billiontoone (NASDAQ:BLLN) Sets New 52-Week High – Here’s What Happened

Billiontoone, Inc. (NASDAQ:BLLN) reached a new 52-week high during trading on Thursday . The company traded as high as $138.89 and last traded at $137.69, with a volume of 365410 shares trading hands. The stock had previously closed at $132.52.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BLLN shares. Guggenheim started coverage on shares of Billiontoone in a research note on Monday, June 29th. They issued a “buy” rating and a $125.00 target price for the company. Weiss Ratings upgraded shares of Billiontoone from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. upped their price objective on shares of Billiontoone from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, BTIG Research decreased their price objective on shares of Billiontoone from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $126.00.

Billiontoone Stock Performance

The company’s 50-day moving average is $111.24 and its two-hundred day moving average is $92.59. The company has a quick ratio of 10.58, a current ratio of 10.92 and a debt-to-equity ratio of 0.18. The company has a market cap of $6.43 billion and a P/E ratio of 253.51.

Billiontoone (NASDAQ:BLLN) last released its earnings results on Wednesday, May 6th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.33. The company had revenue of $108.39 million during the quarter, compared to analysts’ expectations of $95.81 million. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. The firm’s revenue was up 83.8% compared to the same quarter last year. Equities analysts predict that Billiontoone, Inc. will post 0.92 EPS for the current year.

Insider Buying and Selling

In other Billiontoone news, insider Shan Riku Sakakibara sold 8,000 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $125.00, for a total value of $1,000,000.00. Following the sale, the insider directly owned 204,000 shares in the company, valued at $25,500,000. The trade was a 3.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO David Tsao sold 20,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $102.27, for a total value of $2,045,400.00. Following the transaction, the chief technology officer directly owned 1,000 shares in the company, valued at $102,270. This represents a 95.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 153,049 shares of company stock worth $16,768,021 in the last three months. Insiders own 50.22% of the company’s stock.

Institutional Investors Weigh In On Billiontoone

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLLN. Adams Street Partners LLC purchased a new stake in Billiontoone during the fourth quarter valued at about $140,063,000. Baillie Gifford & Co. purchased a new position in shares of Billiontoone in the fourth quarter worth about $103,786,000. Wasatch Advisors LP raised its position in shares of Billiontoone by 40.2% in the second quarter. Wasatch Advisors LP now owns 518,084 shares of the company’s stock valued at $62,160,000 after purchasing an additional 148,446 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Billiontoone in the fourth quarter valued at approximately $39,717,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Billiontoone during the 4th quarter valued at approximately $32,078,000.

Billiontoone Company Profile

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.