Billiontoone (NASDAQ:BLLN) Stock Gets Price Target Reduction from Piper Sandler

Billiontoone (NASDAQ:BLLN) had its price objective trimmed by Piper Sandler from $140.00 to $130.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

BLLN has been the subject of several other research reports. Wall Street Zen cut shares of Billiontoone from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. raised their target price on shares of Billiontoone from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Zacks Research upgraded Billiontoone from a “strong sell” rating to a “hold” rating in a report on Friday, October 2nd. Guggenheim upped their price target on Billiontoone from $125.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, October 1st. Finally, Canaccord Genuity Group began coverage on Billiontoone in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $120.00 price target for the company. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.38.

Billiontoone Price Performance

Shares of NASDAQ BLLN opened at $110.79 on Tuesday. The firm has a 50-day simple moving average of $106.88 and a 200-day simple moving average of $97.64. The company has a quick ratio of 10.89, a current ratio of 11.25 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $5.23 billion and a price-to-earnings ratio of 119.82. Billiontoone has a 52 week low of $61.96 and a 52 week high of $150.44.

Insider Activity

In other news, CTO David Tsao sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $98.77, for a total transaction of $1,975,400.00. Following the transaction, the chief technology officer owned 1,000 shares of the company’s stock, valued at approximately $98,770. The trade was a 95.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Oguzhan Atay sold 25,001 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $109.24, for a total transaction of $2,731,109.24. Following the completion of the sale, the chief executive officer directly owned 16,667 shares of the company’s stock, valued at $1,820,703.08. This represents a 60.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 252,777 shares of company stock valued at $26,737,151. 50.22% of the stock is currently owned by insiders.

Institutional Trading of Billiontoone

Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of Billiontoone by 86.7% during the 3rd quarter. Parallel Advisors LLC now owns 280 shares of the company’s stock valued at $30,000 after buying an additional 130 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Billiontoone in the second quarter worth approximately $29,000. Toth Financial Advisory Corp grew its position in Billiontoone by 60.0% in the third quarter. Toth Financial Advisory Corp now owns 800 shares of the company’s stock worth $85,000 after acquiring an additional 300 shares during the period. MCF Advisors LLC grew its position in Billiontoone by 330.8% in the second quarter. MCF Advisors LLC now owns 448 shares of the company’s stock worth $54,000 after acquiring an additional 344 shares during the period. Finally, Family Legacy Financial Solutions LLC acquired a new stake in Billiontoone during the third quarter worth $53,000.

Billiontoone Company Profile

BillionToOne is a molecular diagnostics company that develops and provides genetic testing for prenatal care and cancer care. Its tests use the company’s molecular counting technology to detect and measure genetic material in patient samples. In prenatal care, BillionToOne offers screening for chromosomal conditions and certain inherited single-gene disorders. Its UNITY platform includes tests designed to assess fetal risk using a pregnant patient’s blood sample. The company also provides oncology testing, including services designed to help characterize tumors and detect cancer-related genetic material.