Bionano Genomics (NASDAQ:BNGO) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Bionano Genomics (NASDAQ:BNGOGet Rating) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, 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 reduced their price objective on Bionano Genomics from $10.00 to $7.00 and set a buy rating for the company in a research note on Thursday, April 7th.

Shares of BNGO stock opened at $1.41 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.47 and a quick ratio of 11.91. The company has a market cap of $408.47 million, a price-to-earnings ratio of -4.27 and a beta of 2.15. The stock has a 50 day simple moving average of $2.04 and a 200-day simple moving average of $2.87. Bionano Genomics has a 1-year low of $1.34 and a 1-year high of $9.12.

Bionano Genomics (NASDAQ:BNGOGet Rating) last posted its quarterly earnings data on Tuesday, March 1st. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Bionano Genomics had a negative net margin of 450.73% and a negative return on equity of 26.46%. The firm had revenue of $6.30 million during the quarter, compared to analyst estimates of $5.80 million. During the same period in the prior year, the company posted ($0.06) earnings per share. Analysts anticipate that Bionano Genomics will post -0.33 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of BNGO. Morgan Stanley raised its stake in Bionano Genomics by 654.0% in the 2nd quarter. Morgan Stanley now owns 1,667,978 shares of the company’s stock valued at $12,226,000 after purchasing an additional 1,446,774 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Bionano Genomics by 5.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 58,070 shares of the company’s stock valued at $319,000 after buying an additional 3,213 shares in the last quarter. SG Americas Securities LLC grew its holdings in Bionano Genomics by 636.5% in the 3rd quarter. SG Americas Securities LLC now owns 106,035 shares of the company’s stock valued at $583,000 after buying an additional 91,637 shares in the last quarter. Advisor Group Holdings Inc. grew its holdings in Bionano Genomics by 61.2% in the 3rd quarter. Advisor Group Holdings Inc. now owns 65,665 shares of the company’s stock valued at $361,000 after buying an additional 24,931 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Bionano Genomics in the 3rd quarter valued at $91,000. 26.35% of the stock is owned by hedge funds and other institutional investors.

About Bionano Genomics (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.

Recommended Stories

Get a free copy of the Zacks research report on Bionano Genomics (BNGO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Bionano Genomics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bionano Genomics and related companies with MarketBeat.com's FREE daily email newsletter.