Bionano Genomics (NASDAQ:BNGO) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Bionano Genomics (NASDAQ:BNGOGet Rating) from a sell rating to a hold rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “BioNano Genomics, Inc. operates as a life sciences instrumentation company in the genome analysis space. The Company offers proprietary nanochannel chips, automated imaging instrument, integrated primary and secondary software, and application specific reagents. BioNano Genomics, Inc. is based in San Diego, United States. “

Separately, BTIG Research lowered their price target on Bionano Genomics from $10.00 to $7.00 and set a buy rating on the stock in a research note on Thursday, April 7th.

Shares of BNGO opened at $1.76 on Tuesday. The company has a current ratio of 12.47, a quick ratio of 11.91 and a debt-to-equity ratio of 0.01. Bionano Genomics has a 12 month low of $1.50 and a 12 month high of $9.12. The stock’s 50 day moving average is $2.09 and its two-hundred day moving average is $2.98. The firm has a market cap of $509.44 million, a P/E ratio of -6.77 and a beta of 2.15.

Bionano Genomics (NASDAQ:BNGOGet Rating) last issued its quarterly earnings results on Tuesday, March 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). The firm had revenue of $6.30 million during the quarter, compared to analyst estimates of $5.80 million. Bionano Genomics had a negative return on equity of 20.80% and a negative net margin of 402.84%. During the same period in the prior year, the firm earned ($0.06) earnings per share. Equities research analysts forecast that Bionano Genomics will post -0.33 EPS for the current year.

A number of institutional investors have recently made changes to their positions in BNGO. Morgan Stanley lifted its position in Bionano Genomics by 654.0% during the second quarter. Morgan Stanley now owns 1,667,978 shares of the company’s stock worth $12,226,000 after buying an additional 1,446,774 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Bionano Genomics by 5.9% during the third quarter. Commonwealth Equity Services LLC now owns 58,070 shares of the company’s stock worth $319,000 after buying an additional 3,213 shares in the last quarter. SG Americas Securities LLC lifted its position in Bionano Genomics by 636.5% during the third quarter. SG Americas Securities LLC now owns 106,035 shares of the company’s stock worth $583,000 after buying an additional 91,637 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in Bionano Genomics by 61.2% during the third quarter. Advisor Group Holdings Inc. now owns 65,665 shares of the company’s stock worth $361,000 after buying an additional 24,931 shares in the last quarter. Finally, Resources Investment Advisors LLC. purchased a new position in Bionano Genomics during the third quarter worth approximately $57,000. Hedge funds and other institutional investors own 26.35% of the company’s stock.

Bionano Genomics Company Profile (Get Rating)

Bionano Genomics, Inc provides genome analysis software solutions. 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.

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