Bionano Genomics (NASDAQ:BNGO) Price Target Cut to $6.00 by Analysts at HC Wainwright

Bionano Genomics (NASDAQ:BNGO) had its price target trimmed by HC Wainwright from $7.00 to $6.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Bionano Genomics in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Bionano Genomics Stock Up 4.4%

Shares of NASDAQ:BNGO opened at $1.18 on Monday. Bionano Genomics has a 52-week low of $1.06 and a 52-week high of $5.50. The firm has a fifty day moving average of $1.15 and a 200 day moving average of $1.49. The firm has a market capitalization of $13.09 million, a PE ratio of -0.25 and a beta of 1.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.74 and a current ratio of 1.98.

Bionano Genomics (NASDAQ:BNGO) last announced its earnings results on Monday, March 23rd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.78. Bionano Genomics had a negative net margin of 92.59% and a negative return on equity of 56.22%. The company had revenue of ($20,528.49) million during the quarter, compared to analyst estimates of $7.88 million.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Jane Street Group LLC purchased a new stake in Bionano Genomics in the 4th quarter worth approximately $34,000. Renaissance Technologies LLC purchased a new position in shares of Bionano Genomics during the fourth quarter valued at approximately $57,000. Carret Asset Management LLC increased its stake in shares of Bionano Genomics by 76.4% during the fourth quarter. Carret Asset Management LLC now owns 44,100 shares of the company’s stock valued at $67,000 after buying an additional 19,100 shares during the period. Geode Capital Management LLC raised its holdings in shares of Bionano Genomics by 148.8% during the fourth quarter. Geode Capital Management LLC now owns 66,766 shares of the company’s stock valued at $102,000 after acquiring an additional 39,928 shares in the last quarter. Finally, DRW Securities LLC bought a new position in shares of Bionano Genomics during the fourth quarter valued at approximately $258,000. Hedge funds and other institutional investors own 11.35% of the company’s stock.

About Bionano Genomics

Bionano Genomics, Inc (NASDAQ: BNGO) develops and commercializes high‐resolution genome analysis tools designed to map structural variants and large‐scale genomic rearrangements. At the core of its technology is the Saphyr® optical genome mapping system, which uses nanochannel arrays to linearize megabase‐length DNA molecules, proprietary fluorescent labeling reagents to highlight specific sequence motifs, and advanced image processing software to detect structural changes with high sensitivity.