Summit Partners Public Asset Management LLC Acquires New Position in Billiontoone, Inc. $BLLN

Summit Partners Public Asset Management LLC acquired a new stake in Billiontoone, Inc. (NASDAQ:BLLN) in the 4th quarter, Holdings Channel reports. The fund acquired 19,783 shares of the company’s stock, valued at approximately $1,619,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Adams Street Partners LLC acquired a new position in Billiontoone in the 4th quarter worth approximately $140,063,000. Baillie Gifford & Co. acquired a new position in Billiontoone in the 4th quarter worth approximately $103,786,000. JPMorgan Chase & Co. acquired a new position in Billiontoone in the 4th quarter worth approximately $32,078,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Billiontoone in the 4th quarter worth approximately $18,631,000. Finally, Capital International Investors acquired a new position in Billiontoone in the 4th quarter worth approximately $14,568,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BLLN shares. BTIG Research cut their price target on shares of Billiontoone from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Guggenheim raised their price objective on shares of Billiontoone from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Wall Street Zen raised shares of Billiontoone from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Weiss Ratings cut shares of Billiontoone from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Billiontoone from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.29.

Billiontoone Price Performance

Shares of NASDAQ BLLN opened at $100.70 on Wednesday. The stock has a market capitalization of $4.63 billion and a price-to-earnings ratio of 183.09. Billiontoone, Inc. has a 12 month low of $61.96 and a 12 month high of $138.70. The firm’s 50 day simple moving average is $88.95 and its 200-day simple moving average is $87.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 10.92 and a quick ratio of 10.58.

Billiontoone (NASDAQ:BLLN) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.33. The firm had revenue of $108.39 million for the quarter, compared to analyst estimates of $95.81 million. During the same period in the previous year, the business earned ($0.39) EPS. Billiontoone’s revenue for the quarter was up 83.8% compared to the same quarter last year. Analysts expect that Billiontoone, Inc. will post 0.93 EPS for the current year.

Insider Activity

In other news, insider Nancy Joann Johnson sold 10,582 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $100.47, for a total transaction of $1,063,173.54. Following the transaction, the insider owned 21,900 shares in the company, valued at $2,200,293. This trade represents a 32.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Oguzhan Atay sold 26,250 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $97.66, for a total transaction of $2,563,575.00. Following the sale, the insider directly owned 20,000 shares of the company’s stock, valued at $1,953,200. The trade was a 56.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 60,750 shares of company stock worth $5,979,598 in the last quarter.

Billiontoone Company Profile

BillionToOne (NASDAQ: BLLN) is a molecular diagnostics company that develops and commercializes high-precision genetic testing solutions based on single-molecule counting technology. The company’s platform is designed to detect and quantify rare genetic variants and chromosomal abnormalities from cell-free DNA, with a primary focus on applications in prenatal screening and other clinical genetic tests where sensitivity and specificity at very low allele fractions are critical.

BillionToOne’s offerings center on assay development and clinical testing workflows that enable non-invasive prenatal testing (NIPT) and targeted molecular diagnostics.