Wall Street Zen Downgrades Bionano Genomics (NASDAQ:BNGO) to Sell

Bionano Genomics (NASDAQ:BNGO) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other analysts also recently weighed in on the company. HC Wainwright started coverage on Bionano Genomics in a research note on Wednesday, April 9th. They issued a “buy” rating and a $10.00 price target on the stock. Scotiabank upped their price target on Bionano Genomics from $1.00 to $4.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.00.

Bionano Genomics Price Performance

Shares of NASDAQ:BNGO opened at $3.40 on Friday. Bionano Genomics has a 52-week low of $2.68 and a 52-week high of $41.10. The firm has a market capitalization of $11.42 million, a P/E ratio of -0.02 and a beta of 2.20. The stock has a 50 day moving average price of $3.58 and a 200-day moving average price of $5.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.34 and a current ratio of 1.70.

Bionano Genomics (NASDAQ:BNGO) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($1.15) earnings per share for the quarter, topping the consensus estimate of ($3.49) by $2.34. The company had revenue of $6.46 million for the quarter, compared to the consensus estimate of $6.25 million. Bionano Genomics had a negative return on equity of 125.75% and a negative net margin of 294.05%.

Institutional Trading of Bionano Genomics

Institutional investors have recently added to or reduced their stakes in the business. Everstar Asset Management LLC purchased a new stake in Bionano Genomics during the 1st quarter valued at $126,000. Carret Asset Management LLC boosted its stake in Bionano Genomics by 39.9% during the 4th quarter. Carret Asset Management LLC now owns 119,000 shares of the company’s stock valued at $34,000 after purchasing an additional 33,945 shares during the last quarter. XTX Topco Ltd purchased a new stake in Bionano Genomics during the 4th quarter valued at $45,000. Renaissance Technologies LLC purchased a new stake in Bionano Genomics during the 4th quarter valued at $46,000. Finally, Jane Street Group LLC purchased a new stake in Bionano Genomics during the 4th quarter valued at $118,000. 11.35% of the stock is currently owned by hedge funds and other institutional investors.

About Bionano Genomics

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.