Piper Sandler Has Lowered Expectations for Billiontoone (NASDAQ:BLLN) Stock Price

Billiontoone (NASDAQ:BLLN) had its price target lowered by equities researchers at Piper Sandler from $140.00 to $130.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler‘s price objective suggests a potential upside of 13.09% from the company’s current price.

Several other research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Billiontoone from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Guggenheim upped their price target on shares of Billiontoone from $125.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, October 1st. Wall Street Zen lowered shares of Billiontoone from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings cut shares of Billiontoone from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Finally, Zacks Research raised shares of Billiontoone from a “strong sell” rating to a “hold” rating in a research note on Friday, October 2nd. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Billiontoone presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.38.

Billiontoone Price Performance

NASDAQ BLLN opened at $114.95 on Tuesday. The stock’s 50-day moving average price is $105.80 and its two-hundred day moving average price is $97.30. The company has a current ratio of 11.69, a quick ratio of 11.31 and a debt-to-equity ratio of 0.17. The company has a market cap of $5.42 billion and a PE ratio of 123.79. Billiontoone has a 1 year low of $61.96 and a 1 year high of $150.44.

Insider Buying and Selling at Billiontoone

In related news, insider Thomas P. Lynch sold 35,112 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $110.33, for a total transaction of $3,873,906.96. Following the transaction, the insider directly owned 700 shares of the company’s stock, valued at approximately $77,231. The trade was a 98.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Oguzhan Atay sold 25,001 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $109.24, for a total transaction of $2,731,109.24. Following the completion of the transaction, the chief executive officer owned 16,667 shares in the company, valued at approximately $1,820,703.08. This represents a 60.00% 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 a total of 252,777 shares of company stock valued at $26,737,151 in the last 90 days. 50.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Billiontoone

Several institutional investors and hedge funds have recently modified their holdings of BLLN. Wasatch Advisors LP raised its holdings in shares of Billiontoone by 40.2% during the second quarter. Wasatch Advisors LP now owns 518,084 shares of the company’s stock worth $62,160,000 after acquiring an additional 148,446 shares in the last quarter. Aberdeen Group plc purchased a new position in Billiontoone in the third quarter valued at about $19,565,000. Emerald Advisers LLC increased its position in Billiontoone by 26.8% in the 1st quarter. Emerald Advisers LLC now owns 239,562 shares of the company’s stock worth $18,911,000 after purchasing an additional 50,613 shares during the last quarter. Penn Capital Management Company LLC increased its position in Billiontoone by 2.3% in the 3rd quarter. Penn Capital Management Company LLC now owns 132,636 shares of the company’s stock worth $14,143,000 after purchasing an additional 3,034 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in Billiontoone by 11.9% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 132,206 shares of the company’s stock worth $10,436,000 after purchasing an additional 14,072 shares during the last quarter.

Billiontoone Company Profile

BillionToOne is a molecular diagnostics company that develops and provides genetic testing for prenatal care and cancer care. Its tests use the company’s molecular counting technology to detect and measure genetic material in patient samples.

In prenatal care, BillionToOne offers screening for chromosomal conditions and certain inherited single-gene disorders. Its UNITY platform includes tests designed to assess fetal risk using a pregnant patient’s blood sample.

The company also provides oncology testing, including services designed to help characterize tumors and detect cancer-related genetic material.