Billiontoone (NASDAQ:BLLN) Stock Price Down 6.5% – Here’s Why

Shares of Billiontoone, Inc. (NASDAQ:BLLN) traded down 6.5% during trading on Tuesday. The company traded as low as $101.61 and last traded at $101.9420. 192,399 shares traded hands during trading, a decline of 65% from the average daily volume of 549,552 shares. The stock had previously closed at $109.06.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Canaccord Genuity Group initiated coverage on shares of Billiontoone in a research note on Wednesday, September 2nd. They set a “buy” rating and a $120.00 price target on the stock. BTIG Research decreased their price objective on Billiontoone from $142.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Wall Street Zen lowered Billiontoone from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Billiontoone from $145.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Finally, Zacks Research upgraded Billiontoone from a “strong sell” rating to a “hold” rating in a research note on Friday, October 2nd. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Billiontoone currently has a consensus rating of “Moderate Buy” and an average target price of $126.25.

Billiontoone Stock Performance

The stock has a market cap of $4.52 billion and a P/E ratio of 136.79. The stock has a 50 day simple moving average of $105.26 and a 200 day simple moving average of $100.66. The company has a current ratio of 11.69, a quick ratio of 11.31 and a debt-to-equity ratio of 0.17.

Billiontoone (NASDAQ:BLLN) last released its earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The firm had revenue of $109.45 million for the quarter. Billiontoone had a net margin of 8.04% and a return on equity of 9.96%. On average, equities analysts expect that Billiontoone, Inc. will post 0.83 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO David Tsao sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $108.15, for a total value of $2,163,000.00. Following the sale, the chief technology officer directly owned 1,000 shares of the company’s stock, valued at $108,150. This trade represents a 95.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Lynch sold 35,112 shares of Billiontoone stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $110.33, for a total value of $3,873,906.96. Following the completion of the transaction, the insider owned 700 shares in the company, valued at approximately $77,231. This represents a 98.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 218,691 shares of company stock valued at $24,473,801 in the last quarter. Corporate insiders own 50.22% of the company’s stock.

Institutional Investors Weigh In On Billiontoone

Several hedge funds and other institutional investors have recently made changes to their positions in BLLN. Adams Street Partners LLC acquired a new stake in Billiontoone in the fourth quarter valued at $140,063,000. Wasatch Advisors LP bought a new stake in shares of Billiontoone in the 1st quarter valued at about $29,179,000. Capital International Investors bought a new stake in shares of Billiontoone in the 4th quarter valued at about $14,568,000. Renaissance Technologies LLC acquired a new stake in shares of Billiontoone in the first quarter valued at about $4,046,000. Finally, Emerald Advisers LLC raised its position in shares of Billiontoone by 26.8% during the first quarter. Emerald Advisers LLC now owns 239,562 shares of the company’s stock worth $18,911,000 after acquiring an additional 50,613 shares during the last quarter.

Billiontoone Company Profile

BillionToOne, Inc (NASDAQ:BLLN) is a molecular diagnostics company that develops blood-based genetic tests designed to provide more information from small amounts of cell-free DNA. The company’s platform uses proprietary molecular counting technology to improve the sensitivity and accuracy of diagnostic testing.

BillionToOne’s primary business is reproductive health testing. Its UNITY portfolio is designed to support prenatal screening, including testing for chromosomal conditions and single-gene disorders, and is intended to provide physicians and expectant parents with information from a maternal blood sample.