Bionano Genomics (NASDAQ:BNGO) Stock Price Up 4.3% – Here’s Why

Bionano Genomics, Inc. (NASDAQ:BNGO) shares traded up 4.3% during trading on Monday . The company traded as high as $1.22 and last traded at $1.22. Approximately 177,373 shares were traded during mid-day trading, an increase of 20% from the average daily volume of 147,298 shares. The stock had previously closed at $1.17.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BNGO. Wall Street Zen raised Bionano Genomics to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings downgraded Bionano Genomics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

Bionano Genomics Stock Performance

The stock has a market capitalization of $14.37 million, a P/E ratio of -0.40 and a beta of 1.63. The company has a current ratio of 2.48, a quick ratio of 1.96 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $1.15 and a two-hundred day moving average price of $1.17.

Bionano Genomics (NASDAQ:BNGO) last announced its earnings results on Monday, August 10th. The company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.03. Bionano Genomics had a negative return on equity of 78.78% and a negative net margin of 106.58%.The company had revenue of ($6.67) million for the quarter, compared to analyst estimates of $7.55 million. On average, equities analysts forecast that Bionano Genomics, Inc. will post -2.49 earnings per share for the current year.

Hedge Funds Weigh In On Bionano Genomics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC grew its position in shares of Bionano Genomics by 31.6% during the 1st quarter. Renaissance Technologies LLC now owns 48,700 shares of the company’s stock worth $57,000 after buying an additional 11,700 shares during the period. Carret Asset Management LLC lifted its position in shares of Bionano Genomics by 76.4% during the 4th quarter. Carret Asset Management LLC now owns 44,100 shares of the company’s stock valued at $67,000 after acquiring an additional 19,100 shares during the period. Jane Street Group LLC acquired a new position in shares of Bionano Genomics during the 4th quarter valued at $34,000. Geode Capital Management LLC boosted its stake in Bionano Genomics by 148.8% during the fourth quarter. Geode Capital Management LLC now owns 66,766 shares of the company’s stock worth $102,000 after acquiring an additional 39,928 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Bionano Genomics during the second quarter worth $170,000. 11.35% of the stock is currently owned by institutional investors.

About Bionano Genomics

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.