Bionano Genomics (NASDAQ:BNGO) Shares Down 6% – What’s Next?

Bionano Genomics, Inc. (NASDAQ:BNGO)’s stock price fell 6% on Tuesday . The company traded as low as $0.20 and last traded at $0.21. 3,316,675 shares traded hands during trading, an increase of 76% from the average session volume of 1,887,252 shares. The stock had previously closed at $0.22.

Wall Street Analyst Weigh In

BNGO has been the topic of several research reports. BTIG Research downgraded shares of Bionano Genomics from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 10th. LADENBURG THALM/SH SH lowered Bionano Genomics from a “buy” rating to a “neutral” rating in a report on Friday, November 15th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $1.00 price objective (down from $6.00) on shares of Bionano Genomics in a research report on Wednesday, August 28th.

Bionano Genomics Price Performance

The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $0.28 and a two-hundred day simple moving average of $0.48. The company has a market cap of $21.52 million, a PE ratio of -0.09 and a beta of 2.28.

Institutional Investors Weigh In On Bionano Genomics

A number of hedge funds and other institutional investors have recently bought and sold shares of BNGO. Carret Asset Management LLC grew its position in Bionano Genomics by 89.0% during the third quarter. Carret Asset Management LLC now owns 85,055 shares of the company’s stock worth $39,000 after buying an additional 40,055 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Bionano Genomics during the 3rd quarter worth $46,000. Geode Capital Management LLC boosted its position in shares of Bionano Genomics by 47.3% in the 3rd quarter. Geode Capital Management LLC now owns 882,854 shares of the company’s stock worth $401,000 after buying an additional 283,639 shares in the last quarter. Finally, Armistice Capital LLC purchased a new position in Bionano Genomics during the 2nd quarter valued at about $1,138,000. 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.