Bionano Genomics (NASDAQ:BNGO) Releases Earnings Results, Beats Expectations By $0.03 EPS

Bionano Genomics (NASDAQ:BNGO) posted its quarterly earnings data on Monday. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.03, FiscalAI reports. Bionano Genomics had a negative net margin of 109.94% and a negative return on equity of 71.38%. The firm had revenue of ($6.67) million during the quarter, compared to analysts’ expectations of $7.55 million.

Bionano Genomics Price Performance

NASDAQ BNGO remained flat at $1.16 on Monday. The company had a trading volume of 239,777 shares, compared to its average volume of 227,647. Bionano Genomics has a fifty-two week low of $1.00 and a fifty-two week high of $5.50. The company has a 50 day moving average of $1.15 and a 200 day moving average of $1.19. 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 $13.32 million, a PE ratio of -0.27 and a beta of 1.63.

Institutional Trading of Bionano Genomics

Institutional investors and hedge funds have recently modified their holdings of the stock. DRW Securities LLC acquired a new position in shares of Bionano Genomics in the fourth quarter valued at approximately $258,000. Geode Capital Management LLC raised its stake in shares of Bionano Genomics by 148.8% in the 4th quarter. Geode Capital Management LLC now owns 66,766 shares of the company’s stock valued at $102,000 after purchasing an additional 39,928 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Bionano Genomics in the 4th quarter valued at about $57,000. Jane Street Group LLC bought a new stake in shares of Bionano Genomics in the fourth quarter valued at about $34,000. Finally, Carret Asset Management LLC grew its holdings in shares of Bionano Genomics by 76.4% during the fourth quarter. Carret Asset Management LLC now owns 44,100 shares of the company’s stock worth $67,000 after buying an additional 19,100 shares in the last quarter. 11.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bionano Genomics in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Bionano Genomics to a “hold” rating in a research note on Saturday, June 13th. Finally, HC Wainwright cut their price objective on shares of Bionano Genomics from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, April 13th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.00.

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.