Bionano Genomics (NASDAQ:BNGO) Trading Down 6% – What’s Next?

Bionano Genomics, Inc. (NASDAQ:BNGO) shares dropped 6% on Tuesday . The company traded as low as $0.20 and last traded at $0.21. Approximately 3,316,675 shares were traded during mid-day trading, an increase of 76% from the average daily volume of 1,887,252 shares. The stock had previously closed at $0.22.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BNGO shares. BTIG Research lowered shares of Bionano Genomics from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 10th. LADENBURG THALM/SH SH lowered Bionano Genomics from a “buy” rating to a “neutral” rating in a research note on Friday, November 15th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $1.00 price target (down previously from $6.00) on shares of Bionano Genomics in a research report on Wednesday, August 28th.

Bionano Genomics Stock Down 4.5 %

The stock has a 50-day moving average of $0.27 and a 200-day moving average of $0.47. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.07. The company has a market cap of $20.45 million, a PE ratio of -0.09 and a beta of 2.28.

Institutional Investors Weigh In On Bionano Genomics

Institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new position in shares of Bionano Genomics in the 3rd quarter worth $46,000. Armistice Capital LLC bought a new position in Bionano Genomics in the second quarter valued at $1,138,000. Carret Asset Management LLC raised its position in Bionano Genomics by 89.0% during the third quarter. Carret Asset Management LLC now owns 85,055 shares of the company’s stock valued at $39,000 after purchasing an additional 40,055 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in 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 purchasing an additional 283,639 shares during the last quarter. 11.35% of the stock is owned by hedge funds and other institutional investors.

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.