why Bionano Genomics Inc. [BNGO] is a Good Choice for Investors After New Price Target of $11.50

Bionano Genomics Inc. [NASDAQ: BNGO] jumped around 0.37 points on Friday, while shares priced at $7.52 at the close of the session, up 5.17%. The company report on June 14, 2021 that Bionano Genomics Appoints Richard Shippy, Former Affymetrix, Illumina and Cradle Executive, as its Chief Business Officer.

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Bionano Genomics, Inc. (Nasdaq: BNGO) announced that Richard Shippy has joined the company as its Chief Business Officer. Richard was one of the transformational leaders at Affymetrix who brought microarrays into the clinic and paved the way for the first FDA-cleared application of microarrays in cytogenetics with the CytoScan HD Array developed by Affymetrix. For Bionano, he will be responsible for leading product strategy, broadening its business into new markets and strategic expansion of its product and technology portfolios.

“We are thrilled to welcome Rich to Bionano. He adds a highly complementary skillset to our team as we put in place key pieces intended to accelerate widespread global adoption of optical genome mapping (OGM) with our Saphryr® system,” commented Erik Holmlin, PhD, CEO of Bionano Genomics. “Rich knows the biological and clinical significance of structural variations (SVs) and has built his career around bringing the best possible technology for detecting SVs for all sorts of applications to market. We believe his experience at Affymetrix and Illumina has given him the background needed to help Bionano transform the cytogenetics market with OGM, and his experience as a co-founder of Cradle genomics has given him the entrepreneurial experience as well as the patient and physician perspective needed to recognize that what we do with OGM matters in patients’ lives.”.

Bionano Genomics Inc. stock is now 144.16% up from its year-to-date (YTD) trading value. BNGO Stock saw the intraday high of $7.63 and lowest of $7.07 per share. The company’s 52-week high price is 15.69, which means current price is +92.33% above from all time high which was touched on 02/16/21.

Compared to the average trading volume of 23.64M shares, BNGO reached a trading volume of 54554392 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $11.50 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 1.20. 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.

BTIG Research have made an estimate for Bionano Genomics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 16, 2021. While these analysts kept the previous recommendation, Ladenburg Thalmann raised their target price to Buy. The new note on the price target was released on September 24, 2020, representing the official price target for Bionano Genomics Inc. stock. Previously, the target price had yet another raise to $1.50, while Oppenheimer analysts kept a Outperform rating on BNGO stock.

The Average True Range (ATR) for Bionano Genomics Inc. is set at 0.56, with the Price to Sales ratio for BNGO stock in the period of the last 12 months amounting to 189.88. The Price to Book ratio for the last quarter was 5.49, with the Price to Cash per share for the same quarter was set at 1.37.

How has BNGO stock performed recently?

Bionano Genomics Inc. [BNGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.31. With this latest performance, BNGO shares gained by 24.92% in over the last four-week period, additionally plugging by 870.32% over the last 6 months – not to mention a rise of 1496.94% 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 56.14, with the RSI for the last a single of trading hit 56.27, and the three-weeks RSI is set at 54.75 for Bionano Genomics Inc. [BNGO]. The present Moving Average for the last 50 days of trading for this stock 6.39, while it was recorded at 7.25 for the last single week of trading, and 5.07 for the last 200 days.

Bionano Genomics Inc. [BNGO]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Bionano Genomics Inc. [BNGO] shares currently have an operating margin of -435.74 and a Gross Margin at +21.67. Bionano Genomics Inc.’s Net Margin is presently recorded at -483.43.

Return on Total Capital for BNGO is now -98.66, given the latest momentum, and Return on Invested Capital for the company is -149.42. Return on Equity for this stock declined to -212.46, with Return on Assets sitting at -90.69. When it comes to the capital structure of this company, Bionano Genomics Inc. [BNGO] has a Total Debt to Total Equity ratio set at 46.54. Additionally, BNGO Total Debt to Total Capital is recorded at 31.76, with Total Debt to Total Assets ending up at 27.01. Long-Term Debt to Equity for the company is recorded at 46.54, with the Long-Term Debt to Total Capital now at 31.76.

Reflecting on the efficiency of the workforce at the company, Bionano Genomics Inc. [BNGO] managed to generate an average of -$279,635 per employee. Receivables Turnover for the company is 1.87 with a Total Asset Turnover recorded at a value of 0.19.Bionano Genomics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 51.20 and a Current Ratio set at 51.60.

Earnings analysis for Bionano Genomics Inc. [BNGO]

With the latest financial reports released by the company, Bionano Genomics Inc. posted -0.09/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. 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.

Insider trade positions for Bionano Genomics Inc. [BNGO]

There are presently around $325 million, or 15.50% of BNGO stock, in the hands of institutional investors. The top three institutional holders of BNGO stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 9,486,494, which is approximately New of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 9,295,839 shares of the stock with an approximate value of $69.91 million in BNGO stocks shares; and INVESCO LTD., currently with $31.53 million in BNGO stock with ownership of nearly New 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 May and at the time of the May reporting period, where 111 institutional holders increased their position in Bionano Genomics Inc. [NASDAQ:BNGO] by around 32,170,798 shares. Additionally, 17 investors decreased positions by around 1,434,823 shares, while 3 investors held positions by with 9,616,834 shares. The mentioned changes placed institutional holdings at 43,222,455 shares, according to the latest SEC report filing. BNGO stock had 83 new institutional investments in for a total of 19,999,993 shares, while 12 institutional investors sold positions of 318,575 shares during the same period.

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