Research analysts working for Scotiabank reportedly assumed coverage on shares of Bionano Genomics (NASDAQ: BNGO) in a report published on Wednesday. This information was obtained from The Fly. In addition, the company provided its forecast for the stock, which was an “outperform” rating.
Separately, in a research note published on Monday, December 12th, BTIG Research reaffirmed its “buy” rating on shares of Bionano Genomics and established a target price of $3.50 for the company’s stock. The research note was published with the company’s quarterly earnings report.
During the trading session on Wednesday, the price of a share of BNGO stock increased by $0.05, bringing it to a new all-time high of $1.49. Even though the typical volume for the company is 6,100,897, there were only 5,138,435 transactions involving business shares. The company has a beta value of 2.24, a market capitalization of $442.42 million, and a price-to-earnings ratio of -3.63. The company’s moving average over the past 50 days is $2.07, and its moving average over the past 200 days is $2.09. The price of Bionano Genomics has ranged between $1.16 and $4.35 over the last 52 weeks, with a low of $1.16 and a high of $4.35. A quick ratio of 5.77, a current ratio of 6.51, and a debt-to-equity ratio of 0.01% are all financial ratios.
On November 3rd, the earnings report for Bionano Genomics, whose stock trades under the NASDAQ: BNGO, was made public. The company reported actual earnings per share of $0.11 for the quarter, which is $0.01 higher than the consensus estimate of $0.12 per share. Both the net margin and the return on equity were negative for Bionano Genomics, with the former coming in at a negative 451.42% and the latter coming in at a negative 38.48%. The revenue for the quarter was significantly higher than the average projection of $6.70 million, which came in at $7.22 million. Analysts specializing in stock market research predict that Bionano Genomics will report a loss of $0.39 per share for the current financial year.
During the previous few months, hedge funds have either increased or decreased the amount of the company’s stock that they hold. During the second quarter, Capital Wealth Alliance LLC increased its ownership stake in Bionano Genomics by investing approximately $35,000 in the company. During the first three months of 2018, Freestone Capital Holdings LLC made investments close to $29,000 in Bionano Genomics to bolster its holdings in that company. During the second quarter, Mirae Asset Global Investments Co. Ltd. added to its existing Bionano Genomics shares, bringing the total value of those holdings up to approximately $1,663,000. In the second quarter, Versor Investments LP made a 240.3% increase in the proportion of Bionano Genomics in which it had previously invested. Versor Investments LP successfully acquired an additional 97,091 shares of the company during the most recent quarter, bringing the total number of shares it owns to 137,500, with a value of $190,000.
Last but not least, during the second quarter, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased the amount of Bionano Genomics stock owned by 45.7%. This certainly should not be considered the least important development. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now has a total of 1,519,630 shares of the company’s stock, which are currently valued at $2,097,000 after purchasing an additional 476,405 shares during the most recent quarter. This brings the total number of shares owned by the company to 1,519,630. In addition, there is currently a stake in the company owned by institutional investors, equivalent to 26.91 percent of the total shares.
The company known as Bionano Genomics, Inc. is in the business of developing software to analyze genomes. It offers Saphyr, which is a sample-to-result solution for optical genome mapping; Saphyr Instrument, which is a single-molecule imager; Saphyr Chip, which is a consumable that packages nanochannel arrays for DNA linearization; and, in addition, it offers Bionano Prep Kits and DNA Labeling Kits, which offer the reagents and procedures for extracting and labeling ultra-high molecular weights. Saphyr can be purchased here. In addition, it offers a disposable product known as the Saphyr Chip, which packages nanochannel arrays.