Bionano Genomics (NASDAQ:BNGO) Shares Down 2.8% – Should You Sell?

Bionano Genomics, Inc. (NASDAQ:BNGO) fell 2.8% during trading on Thursday . The stock traded as low as $1.05 and last traded at $1.06. Approximately 165,837 shares were traded during trading, an increase of 82% from the average session volume of 91,339 shares. The stock had previously closed at $1.09.

Analyst Ratings Changes

A number of analysts have recently weighed in on BNGO shares. HC Wainwright cut their price objective on shares of Bionano Genomics from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Wall Street Zen upgraded shares of Bionano Genomics to a “hold” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings raised shares of Bionano Genomics from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.00.

Bionano Genomics Trading Down 2.8%

The company has a current ratio of 1.84, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. The company has a 50-day simple moving average of $1.16 and a 200 day simple moving average of $1.21. The firm has a market cap of $12.17 million, a PE ratio of -0.24 and a beta of 1.62.

Bionano Genomics (NASDAQ:BNGO) last posted its earnings results on Wednesday, May 13th. The company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.88) by $0.12. Bionano Genomics had a negative net margin of 109.94% and a negative return on equity of 71.38%. The firm had revenue of $6.69 million during the quarter, compared to analyst estimates of $6.57 million. As a group, sell-side analysts forecast that Bionano Genomics, Inc. will post -2.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bionano Genomics

Several hedge funds have recently modified their holdings of BNGO. Renaissance Technologies LLC purchased a new position in shares of Bionano Genomics in the 4th quarter valued at about $57,000. Jane Street Group LLC acquired a new stake in Bionano Genomics in the fourth quarter valued at approximately $34,000. Carret Asset Management LLC grew its holdings in Bionano Genomics by 76.4% in the fourth quarter. Carret Asset Management LLC now owns 44,100 shares of the company’s stock valued at $67,000 after purchasing an additional 19,100 shares during the period. Geode Capital Management LLC increased its position in shares of Bionano Genomics by 148.8% in the fourth quarter. Geode Capital Management LLC now owns 66,766 shares of the company’s stock valued at $102,000 after buying an additional 39,928 shares in the last quarter. Finally, DRW Securities LLC purchased a new stake in shares of Bionano Genomics in the fourth quarter valued at approximately $258,000. 11.35% of the stock is owned by hedge funds and other institutional investors.

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.