Bionano Genomics (NASDAQ:BNGO) Stock Price Up 1.8% – Here’s Why

Bionano Genomics, Inc. (NASDAQ:BNGO) rose 1.8% on Wednesday . The stock traded as high as $1.79 and last traded at $1.74. Approximately 635,578 shares changed hands during trading, a decline of 56% from the average daily volume of 1,432,475 shares. The stock had previously closed at $1.71.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $11.00 target price (up from $10.00) on shares of Bionano Genomics in a research report on Monday, August 18th. Wall Street Zen upgraded Bionano Genomics from a “sell” rating to a “hold” rating in a research note on Monday, August 25th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bionano Genomics presently has a consensus rating of “Hold” and an average target price of $7.50.

Bionano Genomics Price Performance

The business’s 50-day moving average price is $3.09 and its 200 day moving average price is $3.42. The company has a market capitalization of $7.20 million, a P/E ratio of -0.01 and a beta of 2.20. The company has a quick ratio of 1.41, a current ratio of 1.76 and a debt-to-equity ratio of 0.08.

Bionano Genomics (NASDAQ:BNGO) last posted its earnings results on Thursday, August 14th. The company reported ($1.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.69) by $0.70. Bionano Genomics had a negative net margin of 271.02% and a negative return on equity of 129.41%. The business had revenue of $6.73 million for the quarter, compared to analyst estimates of $6.90 million. Bionano Genomics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS.

Institutional Trading of Bionano Genomics

An institutional investor recently bought a new position in Bionano Genomics stock. Everstar Asset Management LLC acquired a new position in shares of Bionano Genomics, Inc. (NASDAQ:BNGO) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,984 shares of the company’s stock, valued at approximately $126,000. Everstar Asset Management LLC owned approximately 1.45% of Bionano Genomics at the end of the most recent quarter. 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.