Scotiabank Reiterates “Sector Perform” Rating for Bionano Genomics (NASDAQ:BNGO)

Bionano Genomics (NASDAQ:BNGO)‘s stock had its “sector perform” rating reiterated by Scotiabank in a research note issued on Wednesday, Benzinga reports. They currently have a $1.00 price objective on the stock, down from their prior price objective of $6.00. Scotiabank’s target price indicates a potential upside of 106.95% from the company’s current price.

Separately, BTIG Research dropped their price target on Bionano Genomics from $3.00 to $2.00 and set a “buy” rating for the company in a report on Thursday, May 16th.

Bionano Genomics Trading Up 1.0 %

Shares of BNGO stock opened at $0.48 on Wednesday. Bionano Genomics has a 12-month low of $0.31 and a 12-month high of $4.20. The company has a market capitalization of $32.31 million, a PE ratio of -0.08 and a beta of 2.40. The firm has a 50 day moving average price of $0.57 and a two-hundred day moving average price of $0.86. The company has a quick ratio of 1.13, a current ratio of 1.46 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Bionano Genomics

Large investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC acquired a new position in shares of Bionano Genomics in the 2nd quarter valued at approximately $1,138,000. GSA Capital Partners LLP lifted its stake in Bionano Genomics by 532.7% during the first quarter. GSA Capital Partners LLP now owns 549,789 shares of the company’s stock worth $610,000 after purchasing an additional 462,887 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Bionano Genomics in the 1st quarter valued at $163,000. Quadrature Capital Ltd bought a new position in shares of Bionano Genomics in the 4th quarter valued at $209,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Bionano Genomics by 123.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 70,370 shares of the company’s stock worth $79,000 after buying an additional 38,900 shares in the last quarter. Institutional investors and hedge funds own 11.35% of the company’s stock.

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.