Bionano Genomics (NASDAQ:BNGO) Trading Down 1.8% – Here’s What Happened

Bionano Genomics, Inc. (NASDAQ:BNGO) dropped 1.8% during trading on Tuesday . The stock traded as low as $1.0801 and last traded at $1.12. Approximately 127,436 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 161,167 shares. The stock had previously closed at $1.14.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BNGO shares. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target (down from $11.00) on shares of Bionano Genomics in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bionano Genomics in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Bionano Genomics presently has an average rating of “Hold” and a consensus price target of $5.50.

Bionano Genomics Price Performance

The company has a quick ratio of 1.82, a current ratio of 2.12 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $1.37 and a 200 day moving average of $1.93. The firm has a market cap of $11.40 million, a P/E ratio of -0.24 and a beta of 1.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Bionano Genomics by 148.8% in the 4th 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 during the period. Renaissance Technologies LLC bought a new stake in Bionano Genomics in the 4th quarter valued at $57,000. DRW Securities LLC bought a new position in Bionano Genomics during the 4th quarter worth $258,000. Jane Street Group LLC acquired a new position in shares of Bionano Genomics in the fourth quarter valued at about $34,000. Finally, Carret Asset Management LLC raised its stake 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 in the last quarter. Institutional investors and hedge funds own 11.35% of the company’s stock.

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.