Market Analysts see Bionano Genomics Inc. [BNGO] gaining to $1.25. Time to buy?

Bionano Genomics Inc. [NASDAQ: BNGO] gained 8.67% on the last trading session, reaching $7.77 price per share at the time. The company report on March 3, 2021 that Bionano Customer Praxis Genomics Receives DEX Z-Codes from Palmetto for their Whole Genome Analysis LDT on Saphyr.

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Bionano Genomics, Inc. (Nasdaq: BNGO) announced that Praxis Genomics, LLC received DEX Z-codes from Palmetto MolDX for its entire testing menu of laboratory developed tests (LDTs) based on Saphyr. The DEX Z-Code modifier is a unique 5-character alpha-numeric code associated with certain molecular diagnostics tests and is typically used by certain payers as an adjunct to non-specific CPT codes when no specific CPT code applies. The code, submitted on a claim along with a particular CPT code provides greater clarity to help payers and physicians understand which test is being ordered, performed and billed. The process removes the need for the provider to submit large amounts of additional information with every claim and can expedite claim payment. The assignment of DEX Z-codes to Praxis’s menu of Saphyr-based LDTs is potentially a major step forward in the coding and eventual coverage of Saphyr-based tests.

Praxis is the first CAP-accredited, CLIA-certified diagnostic lab in the United States to develop and offer commercially an LDT based on whole genome analysis with Saphyr. Praxis uses optical genome mapping (OGM) as an alternative to traditional methods of chromosomal microarray (CMA) and karyotyping (KT), as they seek to improve the rate of clinical diagnosis for patients with genetic disease. The Z-codes allow for a path for Medicare coverage and private insurance reimbursement for OGM with Saphyr of patients with suspected genetic disease.

Bionano Genomics Inc. represents 271.83 million in outstanding shares, while the company has a total market value of $1.36 billion with the latest information. BNGO stock price has been found in the range of $7.20 to $8.95.

If compared to the average trading volume of 90.22M shares, BNGO reached a trading volume of 66495256 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Bionano Genomics Inc. [BNGO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BNGO shares is $10.94 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BNGO stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Ladenburg Thalmann have made an estimate for Bionano Genomics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 24, 2020. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on April 08, 2020, representing the official price target for Bionano Genomics Inc. stock.

The Average True Range (ATR) for Bionano Genomics Inc. is set at 1.57, with the Price to Sales ratio for BNGO stock in the period of the last 12 months amounting to 186.62. The Price to Book ratio for the last quarter was 70.64, with the Price to Cash per share for the same quarter was set at 0.11.

Trading performance analysis for BNGO stock

Bionano Genomics Inc. [BNGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.04. With this latest performance, BNGO shares dropped by -30.50% in over the last four-week period, additionally plugging by 1329.36% over the last 6 months – not to mention a rise of 915.95% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BNGO stock in for the last two-week period is set at 41.04, with the RSI for the last a single of trading hit 35.61, and the three-weeks RSI is set at 45.44 for Bionano Genomics Inc. [BNGO]. The present Moving Average for the last 50 days of trading for this stock 8.73, while it was recorded at 7.97 for the last single week of trading, and 2.61 for the last 200 days.

Bionano Genomics Inc. [BNGO]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Bionano Genomics Inc. [BNGO] shares currently have an operating margin of -255.44 and a Gross Margin at +22.46. Bionano Genomics Inc.’s Net Margin is presently recorded at -294.34.

Return on Total Capital for BNGO is now -120.73, given the latest momentum, and Return on Invested Capital for the company is -261.76. Return on Equity for this stock declined to -433.64, with Return on Assets sitting at -108.40. When it comes to the capital structure of this company, Bionano Genomics Inc. [BNGO] has a Total Debt to Total Equity ratio set at 555.80. Additionally, BNGO Total Debt to Total Capital is recorded at 84.75, with Total Debt to Total Assets ending up at 66.49.

Reflecting on the efficiency of the workforce at the company, Bionano Genomics Inc. [BNGO] managed to generate an average of -$307,372 per employee. Receivables Turnover for the company is 1.87 with a Total Asset Turnover recorded at a value of 0.37.Bionano Genomics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.20.

Bionano Genomics Inc. [BNGO]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Bionano Genomics Inc. posted -0.3/share EPS, while the average EPS was predicted by analysts to be reported at -0.18/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -66.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BNGO.

An analysis of insider ownership at Bionano Genomics Inc. [BNGO]

There are presently around $97 million, or 6.90% of BNGO stock, in the hands of institutional investors. The top three institutional holders of BNGO stocks are: VANGUARD GROUP INC with ownership of 7,132,899, which is approximately 28.144% of the company’s market cap and around 0.06% of the total institutional ownership; PURA VIDA INVESTMENTS, LLC, holding 2,100,000 shares of the stock with an approximate value of $16.32 million in BNGO stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $7.34 million in BNGO stock with ownership of nearly 53.309% of the company’s market capitalization.

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Positions in Bionano Genomics Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 36 institutional holders increased their position in Bionano Genomics Inc. [NASDAQ:BNGO] by around 5,122,131 shares. Additionally, 13 investors decreased positions by around 1,278,012 shares, while 5 investors held positions by with 6,083,937 shares. The mentioned changes placed institutional holdings at 12,484,080 shares, according to the latest SEC report filing. BNGO stock had 26 new institutional investments in for a total of 3,064,370 shares, while 7 institutional investors sold positions of 1,085,347 shares during the same period.

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