Bionano Genomics Inc. [BNGO] Revenue clocked in at $15.70 million, down -2.92% YTD: What’s Next?

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Bionano Genomics Inc. [NASDAQ: BNGO] loss -4.17% or -0.13 points to close at $2.99 with a heavy trading volume of 9614611 shares. The company report on December 29, 2021 that Bionano Announces Prototype for its Next Single Molecule Imaging System for OGM.

Bionano Genomics, Inc. (BNGO), pioneer of optical genome mapping (OGM) solutions on the Saphyr® system and provider of the leading software solutions for visualization, interpretation and reporting of genomic data, today announced that it has completed the first prototype for its next single molecule imaging system for OGM. The prototype is being used to integrate and test the key engineering designs of a new instrument and consumable intended to meet the needs of high volume users. The commercial system based on this prototype is expected to be released in the first half of 2023.


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We believe OGM provides the most comprehensive, reliable and cost-effective solution for detecting structural variations (SVs). OGM is a workflow comprised of four proprietary stages: (i) ultra-high molecular weight DNA isolation; (ii) sequence-specific DNA labeling; (iii) single molecule linearization & imaging; and (iv) data processing and analysis. The third stage creates the molecule images and sequence motif patterns that are used to reveal SVs. This stage also sets the limit on the number of samples that can be processed per day. The throughput of the current Saphyr system is designed for the volumes encountered by academic medical centers doing standard clinical research in genomics, but large reference laboratories and contract research organizations (CROs) with higher volumes require an instrument with higher throughput capabilities.

It opened the trading session at $3.055, the shares rose to $3.2287 and dropped to $2.98, the range by which the price of stock traded the whole day. The daily chart for BNGO points out that the company has recorded -55.51% loss over the past six months. However, it is still -16.34% lower than its most recent low trading price.

If we look at the average trading volume of 8.55M shares, BNGO reached to a volume of 9614611 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 $12.00 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 0.27, with the Price to Sales ratio for BNGO stock in the period of the last 12 months amounting to 55.58. The Price to Book ratio for the last quarter was 2.45, with the Price to Cash per share for the same quarter was set at 1.12.

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 -7.72. With this latest performance, BNGO shares dropped by -19.19% in over the last four-week period, additionally sinking by -55.51% over the last 6 months – not to mention a drop of -2.92% 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 32.23, with the RSI for the last a single of trading hit 32.48, and the three-weeks RSI is set at 32.89 for Bionano Genomics Inc. [BNGO]. The present Moving Average for the last 50 days of trading for this stock 4.25, while it was recorded at 3.10 for the last single week of trading, and 5.73 for the last 200 days.

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

Bionano Genomics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 18.80 and a Current Ratio set at 19.30.

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

There are presently around $216 million, or 25.50% of BNGO stock, in the hands of institutional investors. The top three institutional holders of BNGO stocks are: BLACKROCK INC. with ownership of 18,160,323, which is approximately -0.942% of the company’s market cap and around 2.10% of the total institutional ownership; VANGUARD GROUP INC, holding 15,053,272 shares of the stock with an approximate value of $45.01 million in BNGO stocks shares; and STATE STREET CORP, currently with $22.49 million in BNGO stock with ownership of nearly 0.09% of the company’s market capitalization.

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 75 institutional holders increased their position in Bionano Genomics Inc. [NASDAQ:BNGO] by around 7,410,746 shares. Additionally, 74 investors decreased positions by around 9,674,085 shares, while 33 investors held positions by with 55,282,257 shares. The mentioned changes placed institutional holdings at 72,367,088 shares, according to the latest SEC report filing. BNGO stock had 21 new institutional investments in for a total of 983,686 shares, while 26 institutional investors sold positions of 1,355,581 shares during the same period.