Bionano Genomics (NASDAQ:BNGO) Shares Up 3.2% – Still a Buy?

Bionano Genomics, Inc. (NASDAQ:BNGO)’s stock price was up 3.2% on Wednesday . The company traded as high as $1.3750 and last traded at $1.30. Approximately 249,013 shares traded hands during mid-day trading, an increase of 45% from the average daily volume of 171,487 shares. The stock had previously closed at $1.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Bionano Genomics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. HC Wainwright lowered their target price on Bionano Genomics from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday, April 13th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Bionano Genomics has an average rating of “Hold” and an average target price of $6.00.

Bionano Genomics Price Performance

The firm has a market capitalization of $13.43 million, a P/E ratio of -0.27 and a beta of 1.65. The stock’s fifty day simple moving average is $1.22 and its 200 day simple moving average is $1.34. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.84 and a quick ratio of 1.59.

Bionano Genomics (NASDAQ:BNGO) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.57 million. On average, equities research analysts predict that Bionano Genomics, Inc. will post -2.49 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in Bionano Genomics in the fourth quarter valued at about $34,000. Renaissance Technologies LLC grew its stake in shares of Bionano Genomics by 31.6% during the first quarter. Renaissance Technologies LLC now owns 48,700 shares of the company’s stock worth $57,000 after acquiring an additional 11,700 shares during the last quarter. Carret Asset Management LLC grew its stake 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 acquiring an additional 19,100 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 acquiring an additional 39,928 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in shares of Bionano Genomics during the fourth quarter valued at about $258,000. 11.35% of the stock is currently owned by hedge funds and other institutional investors.

Bionano Genomics Company Profile

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.