Bionano Genomics (NASDAQ:BNGO) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of Bionano Genomics (NASDAQ:BNGO) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $10.00 price objective on the stock.

Separately, Scotiabank lifted their price objective on Bionano Genomics from $1.00 to $4.00 and gave the company a “sector perform” rating in a report on Wednesday, April 2nd.

Bionano Genomics Price Performance

Shares of Bionano Genomics stock traded up $0.93 during trading on Wednesday, hitting $4.01. 440,758 shares of the company’s stock traded hands, compared to its average volume of 84,921. Bionano Genomics has a twelve month low of $2.68 and a twelve month high of $72.60. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.43 and a quick ratio of 0.99. The company has a market cap of $12.04 million, a PE ratio of -0.03 and a beta of 2.08. The firm’s fifty day moving average price is $4.12 and its 200 day moving average price is $11.94.

Institutional Trading of Bionano Genomics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Carret Asset Management LLC raised its position in shares of Bionano Genomics by 39.9% during the fourth quarter. Carret Asset Management LLC now owns 119,000 shares of the company’s stock worth $34,000 after acquiring an additional 33,945 shares during the last quarter. XTX Topco Ltd bought a new stake in Bionano Genomics during the 4th quarter worth about $45,000. Renaissance Technologies LLC acquired a new position in Bionano Genomics during the 4th quarter valued at about $46,000. Jane Street Group LLC bought a new position in shares of Bionano Genomics in the 4th quarter valued at about $118,000. Finally, Geode Capital Management LLC raised its stake in shares of Bionano Genomics by 47.3% during the third quarter. Geode Capital Management LLC now owns 882,854 shares of the company’s stock worth $401,000 after buying an additional 283,639 shares during the last quarter. Institutional investors and hedge funds own 11.35% of the company’s stock.

Bionano Genomics Company Profile

Bionano Genomics, Inc provides genome analysis software that enables genomics labs to analyze and interpret data across a range of platforms to generate informative data visualizations for streamlined and simple reporting of causal variants. It offers Saphyr, a sample-to-result solution for structural variation analysis by optical genome mapping for genome analysis and understanding of genetic variation and function; Saphyr instrument, a single-molecule imager; Saphyr Chip, a consumable that packages the nanochannel arrays for DNA linearization; and Bionano Prep Kits and DNA labeling kits, which provide the reagents and protocols for extracting and labeling ultra-high molecular weight DNA.