Billiontoone (NASDAQ:BLLN) Stock Price Down 8.3% – Here’s What Happened

Billiontoone, Inc. (NASDAQ:BLLN) shares dropped 8.3% on Wednesday . The stock traded as low as $72.16 and last traded at $71.7260. Approximately 132,910 shares were traded during trading, a decline of 56% from the average daily volume of 304,653 shares. The stock had previously closed at $78.23.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Weiss Ratings assumed coverage on shares of Billiontoone in a research note on Tuesday, February 3rd. They set a “sell (d)” rating for the company. Wall Street Zen raised shares of Billiontoone from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. BTIG Research dropped their price objective on shares of Billiontoone from $160.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Wells Fargo & Company dropped their price objective on shares of Billiontoone from $110.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 5th. Finally, Guggenheim dropped their price objective on shares of Billiontoone from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $126.71.

Billiontoone Stock Performance

The company has a current ratio of 11.69, a quick ratio of 11.32 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $3.56 billion and a PE ratio of 369.00. The company has a 50-day moving average of $77.44.

Billiontoone (NASDAQ:BLLN) last released its earnings results on Wednesday, March 4th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $96.05 million for the quarter, compared to analyst estimates of $85.85 million. The company’s revenue was up 113.0% on a year-over-year basis. Analysts forecast that Billiontoone, Inc. will post 0.42 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BLLN. Adams Street Partners LLC purchased a new stake in shares of Billiontoone in the fourth quarter valued at about $140,063,000. Baillie Gifford & Co. acquired a new stake in shares of Billiontoone in the fourth quarter valued at about $103,786,000. 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. acquired a new stake in shares of Billiontoone in the fourth quarter valued at about $32,078,000. Finally, Wasatch Advisors LP acquired a new stake in shares of Billiontoone in the first quarter valued at about $29,179,000.

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.