Bionano Genomics (NASDAQ:BNGO) Trading Down 1.8% – Should You Sell?

Bionano Genomics, Inc. (NASDAQ:BNGO) shares dropped 1.8% during mid-day trading on Tuesday . The company traded as low as $1.0801 and last traded at $1.12. Approximately 127,436 shares changed hands during trading, a decline of 21% from the average daily volume of 161,167 shares. The stock had previously closed at $1.14.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BNGO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bionano Genomics in a research note on Monday, December 29th. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price (down from $11.00) on shares of Bionano Genomics in a research note on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.50.

Bionano Genomics Trading Down 1.7%

The stock has a market capitalization of $11.50 million, a price-to-earnings ratio of -0.24 and a beta of 1.69. The company’s 50 day moving average is $1.36 and its 200 day moving average is $1.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.82 and a current ratio of 2.12.

Hedge Funds Weigh In On Bionano Genomics

Large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of Bionano Genomics during the 4th quarter worth about $34,000. Renaissance Technologies LLC bought a new stake in shares of Bionano Genomics in the fourth quarter worth about $57,000. Carret Asset Management LLC raised its position 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 purchasing an additional 19,100 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Bionano Genomics by 148.8% during 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 in the last quarter. Finally, DRW Securities LLC acquired a new position in shares of Bionano Genomics in the 4th quarter valued at approximately $258,000. Institutional investors and hedge funds own 11.35% of the company’s stock.

About Bionano Genomics

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.