Bionano Genomics (NASDAQ:BNGO) Lowered to Neutral at BTIG Research

Bionano Genomics (NASDAQ:BNGO) was downgraded by BTIG Research from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports.

Separately, Scotiabank reiterated a “sector perform” rating and issued a $1.00 price target (down from $6.00) on shares of Bionano Genomics in a research note on Wednesday, August 28th.

Bionano Genomics Stock Performance

Bionano Genomics stock opened at $0.48 on Tuesday. Bionano Genomics has a 52 week low of $0.31 and a 52 week high of $3.85. The company has a current ratio of 1.63, a quick ratio of 1.11 and a debt-to-equity ratio of 0.04. The stock has a market cap of $41.27 million, a P/E ratio of -0.08 and a beta of 2.31. The stock has a 50 day moving average of $0.54 and a 200-day moving average of $0.82.

Bionano Genomics (NASDAQ:BNGO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter. The company had revenue of $7.77 million for the quarter. Bionano Genomics had a negative net margin of 557.98% and a negative return on equity of 151.27%. On average, analysts expect that Bionano Genomics will post -1.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Bionano Genomics

Hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new stake in shares of Bionano Genomics during the fourth quarter worth $209,000. GSA Capital Partners LLP raised 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 acquiring an additional 462,887 shares during the period. Virtu Financial LLC bought a new position in Bionano Genomics in the first quarter worth about $36,000. Price T Rowe Associates Inc. MD boosted its stake in Bionano Genomics by 123.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 70,370 shares of the company’s stock valued at $79,000 after acquiring an additional 38,900 shares during the period. Finally, Cetera Advisors LLC bought a new position in shares of Bionano Genomics during the first quarter valued at approximately $163,000. Institutional investors and hedge funds own 11.35% of the company’s stock.

Bionano Genomics Company Profile

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.