Bionano Genomics (NASDAQ:BNGO) Stock Price Down 2.8% – Here’s What Happened

Bionano Genomics, Inc. (NASDAQ:BNGO) dropped 2.8% during mid-day trading on Thursday . The company traded as low as $1.05 and last traded at $1.06. Approximately 165,837 shares traded hands during trading, an increase of 82% from the average daily volume of 91,339 shares. The stock had previously closed at $1.09.

Analyst Upgrades and Downgrades

BNGO has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Bionano Genomics to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bionano Genomics in a report on Wednesday. Finally, HC Wainwright dropped their price target on Bionano Genomics from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.00.

Bionano Genomics Stock Up 0.9%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.84. The company has a market capitalization of $12.28 million, a PE ratio of -0.24 and a beta of 1.62. The company’s fifty day moving average is $1.16 and its 200-day moving average is $1.21.

Bionano Genomics (NASDAQ:BNGO) last posted its quarterly 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 business 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, analysts predict that Bionano Genomics, Inc. will post -2.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Bionano Genomics

A number of institutional investors and hedge funds have recently bought and sold shares of BNGO. Jane Street Group LLC bought a new position in shares of Bionano Genomics in the fourth quarter worth about $34,000. Renaissance Technologies LLC lifted its holdings in Bionano Genomics by 31.6% in the 1st quarter. Renaissance Technologies LLC now owns 48,700 shares of the company’s stock worth $57,000 after purchasing an additional 11,700 shares in the last quarter. Carret Asset Management LLC lifted its holdings in Bionano Genomics by 76.4% in the 4th quarter. Carret Asset Management LLC now owns 44,100 shares of the company’s stock worth $67,000 after purchasing an additional 19,100 shares in the last quarter. Geode Capital Management LLC boosted its stake in Bionano Genomics by 148.8% in the 4th quarter. Geode Capital Management LLC now owns 66,766 shares of the company’s stock worth $102,000 after purchasing an additional 39,928 shares during the period. Finally, DRW Securities LLC purchased a new stake in Bionano Genomics during the 4th quarter valued at approximately $258,000. 11.35% of the stock is owned by institutional investors.

About Bionano Genomics

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.