Bionano Genomics, Inc. (NASDAQ:BNGO) Sees Significant Growth in Short Interest

Bionano Genomics, Inc. (NASDAQ:BNGO) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 9,830,000 shares, a growth of 28.2% from the October 15th total of 7,670,000 shares. Based on an average daily volume of 2,010,000 shares, the short-interest ratio is currently 4.9 days. Currently, 10.3% of the company’s stock are sold short.

Bionano Genomics Stock Down 3.8 %

Bionano Genomics stock opened at $0.25 on Friday. The company has a fifty day simple moving average of $0.36 and a 200 day simple moving average of $0.60. The company has a current ratio of 1.63, a quick ratio of 1.11 and a debt-to-equity ratio of 0.04. Bionano Genomics has a 1-year low of $0.24 and a 1-year high of $2.27. The company has a market cap of $21.16 million, a P/E ratio of -0.05 and a beta of 2.37.

Institutional Trading of Bionano Genomics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of Bionano Genomics during the 1st quarter worth approximately $36,000. Price T Rowe Associates Inc. MD raised its position in Bionano Genomics by 123.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 70,370 shares of the company’s stock worth $79,000 after acquiring an additional 38,900 shares in the last quarter. Armistice Capital LLC acquired a new stake in Bionano Genomics in the second quarter valued at $1,138,000. Cetera Advisors LLC bought a new position in shares of Bionano Genomics in the 1st quarter valued at about $163,000. Finally, Carret Asset Management LLC increased its stake in shares of Bionano Genomics by 89.0% during the 3rd quarter. Carret Asset Management LLC now owns 85,055 shares of the company’s stock worth $39,000 after purchasing an additional 40,055 shares during the last quarter. Institutional investors own 11.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on BNGO shares. LADENBURG THALM/SH SH downgraded shares of Bionano Genomics from a “buy” rating to a “neutral” rating in a report on Friday. BTIG Research cut shares of Bionano Genomics from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 10th. Finally, Scotiabank reiterated a “sector perform” rating and set a $1.00 target price (down previously from $6.00) on shares of Bionano Genomics in a report on Wednesday, August 28th.

About Bionano Genomics

Bionano Genomics, Inc provides genome analysis software that enables genomics labs to analyze and interpret data across a range of platforms to generate informative data visualizations for streamlined and simple reporting of causal variants. It offers Saphyr, a sample-to-result solution for structural variation analysis by optical genome mapping for genome analysis and understanding of genetic variation and function; Saphyr instrument, a single-molecule imager; Saphyr Chip, a consumable that packages the nanochannel arrays for DNA linearization; and Bionano Prep Kits and DNA labeling kits, which provide the reagents and protocols for extracting and labeling ultra-high molecular weight DNA.