Billiontoone (NASDAQ:BLLN) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Billiontoone (NASDAQ:BLLN) in a research note issued to investors on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $120.00 target price on the stock.

Several other brokerages have also issued reports on BLLN. Weiss Ratings upgraded Billiontoone from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. Guggenheim assumed coverage on Billiontoone in a research note on Monday, June 29th. They issued a “buy” rating and a $125.00 price objective on the stock. Zacks Research cut Billiontoone from a “hold” rating to a “strong sell” rating in a research report on Monday. BTIG Research lowered their target price on Billiontoone from $142.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Billiontoone from $145.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $125.88.

Billiontoone Price Performance

Shares of NASDAQ:BLLN opened at $96.15 on Wednesday. The firm has a 50 day moving average of $114.43 and a 200-day moving average of $95.38. Billiontoone has a 12 month low of $61.96 and a 12 month high of $150.44. The company has a current ratio of 11.69, a quick ratio of 11.31 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $4.54 billion and a PE ratio of 137.36.

Billiontoone (NASDAQ:BLLN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. Billiontoone had a net margin of 8.04% and a return on equity of 9.96%. The business had revenue of $109.45 million for the quarter. On average, equities research analysts predict that Billiontoone will post 0.83 EPS for the current fiscal year.

Insider Activity

In related news, insider Nancy Joann Johnson sold 10,582 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $100.47, for a total value of $1,063,173.54. Following the completion of the transaction, the insider owned 21,900 shares in the company, valued at $2,200,293. This trade represents a 32.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Oguzhan Atay sold 32,500 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $136.95, for a total transaction of $4,450,875.00. Following the sale, the chief executive officer directly owned 20,000 shares in the company, valued at $2,739,000. The trade was a 61.90% decrease in their ownership of the stock. 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 sold 224,883 shares of company stock valued at $25,698,744 over the last quarter. 50.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Adams Street Partners LLC acquired a new position in Billiontoone during the 4th quarter worth about $140,063,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Billiontoone in the fourth quarter valued at about $39,717,000. JPMorgan Chase & Co. bought a new position in shares of Billiontoone during the fourth quarter worth about $32,078,000. Wasatch Advisors LP bought a new position in shares of Billiontoone during the first quarter worth about $29,179,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Billiontoone in the fourth quarter worth approximately $18,631,000.

About Billiontoone

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.