Bionano Genomics (NASDAQ:BNGO) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Bionano Genomics (NASDAQ:BNGO) posted its earnings results on Monday. The company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.03, FiscalAI reports. Bionano Genomics had a negative return on equity of 71.38% and a negative net margin of 109.94%.The company had revenue of ($6.67) million for the quarter, compared to the consensus estimate of $7.55 million.

Bionano Genomics Stock Performance

Shares of NASDAQ BNGO remained flat at $1.16 during trading hours on Monday. The stock had a trading volume of 240,880 shares, compared to its average volume of 227,674. The firm’s 50 day moving average is $1.15 and its 200 day moving average is $1.19. Bionano Genomics has a 52-week low of $1.00 and a 52-week high of $5.50. The company has a market capitalization of $13.32 million, a PE ratio of -0.27 and a beta of 1.63. The company has a quick ratio of 1.59, a current ratio of 1.84 and a debt-to-equity ratio of 0.09.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BNGO. HC Wainwright reduced their price objective on 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 raised shares of Bionano Genomics to a “hold” rating in a report on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bionano Genomics in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Carret Asset Management LLC raised its position in Bionano Genomics by 76.4% in the 4th 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. DRW Securities LLC purchased a new position in shares of Bionano Genomics during the fourth quarter valued at approximately $258,000. Geode Capital Management LLC grew its stake in shares of Bionano Genomics by 148.8% during 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 during the last quarter. Renaissance Technologies LLC bought a new position in shares of Bionano Genomics during the fourth quarter valued at approximately $57,000. Finally, Jane Street Group LLC purchased a new stake in shares of Bionano Genomics in the fourth quarter worth approximately $34,000. Institutional investors 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.