Market Analysts see Bionano Genomics Inc. [BNGO] gaining to $12. Time to buy?


Bionano Genomics Inc. [NASDAQ: BNGO] price surged by 3.90 percent to reach at $0.06. The company report on June 29, 2022 that Bionano Genomics Announces Issuance of a U.S. Patent for Analysis of Small Nucleic Acid Fragments in Nanochannel Arrays.

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Bionano Genomics, Inc. (Nasdaq: BNGO), today announced that the United States Patent and Trademark Office issued US Patent No.11,359,244 on June 14, 2022. The patent, titled “CHARACTERIZATION OF MOLECULES IN NANOFLUIDICS claims methods for the analysis of small nucleic acid fragments in nanochannel arrays, which Bionano has traditionally used to analyze ultra-high molecular weight (UHMW) DNA for the identification of structural variants (SVs) as part of its Saphyr® system. The methods claim the use of certain nanochannel arrays to detect and quantitate genetic abnormalities, including a DNA translocation, amplification, transversion, inversion, aneuploidy, polyploidy, monosomy, trisomy, trisomy 21, trisomy 13, trisomy 14, trisomy 15, trisomy 16, trisomy 18, trisomy 22, triploidy, tetraploidy, and sex chromosome aneuploidy.

Nanochannel arrays have the potential to enable single molecule assays for circulating DNA found in blood and other fluid samples, which tend to be highly fragmented with average lengths between 150 – 200 base pairs. Bionano believes that the methods disclosed in the –244 patent may one day support the commercialization of assays directed to non-invasive prenatal testing (NIPT) in maternal fetal medicine or ctDNA in oncology.

A sum of 10381386 shares traded at recent session while its average daily volume was at 6.13M shares. Bionano Genomics Inc. shares reached a high of $1.695 and dropped to a low of $1.53 until finishing in the latest session at $1.60.

The one-year BNGO stock forecast points to a potential upside of 81.55. The average equity rating for BNGO stock is currently 1.30, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $8.67 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 1.30. 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.

Oppenheimer have made an estimate for Bionano Genomics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 18, 2022. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on June 16, 2021, representing the official price target for Bionano Genomics Inc. stock. Previously, the target price had yet another raise to $1.25, while Ladenburg Thalmann analysts kept a Buy rating on BNGO stock.

The Average True Range (ATR) for Bionano Genomics Inc. is set at 0.12, with the Price to Sales ratio for BNGO stock in the period of the last 12 months amounting to 22.17. The Price to Book ratio for the last quarter was 1.47, with the Price to Cash per share for the same quarter was set at 0.76.

BNGO Stock Performance Analysis:

Bionano Genomics Inc. [BNGO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.96. With this latest performance, BNGO shares gained by 11.89% in over the last four-week period, additionally sinking by -37.01% over the last 6 months – not to mention a drop of -72.27% 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 53.60, with the RSI for the last a single of trading hit 57.06, and the three-weeks RSI is set at 51.20 for Bionano Genomics Inc. [BNGO]. The present Moving Average for the last 50 days of trading for this stock 1.5369, while it was recorded at 1.5500 for the last single week of trading, and 2.7675 for the last 200 days.

Insight into Bionano Genomics Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Bionano Genomics Inc. [BNGO] shares currently have an operating margin of -428.79 and a Gross Margin at +4.47. Bionano Genomics Inc.’s Net Margin is presently recorded at -402.84.

Return on Equity for this stock declined to -38.92, with Return on Assets sitting at -33.11.

Bionano Genomics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.10 and a Current Ratio set at 13.00.

Bionano Genomics Inc. [BNGO] Insider Position Details

There are presently around $112 million, or 26.20% of BNGO stock, in the hands of institutional investors. The top three institutional holders of BNGO stocks are: BLACKROCK INC. with ownership of 18,595,630, which is approximately -0.346% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 15,876,289 shares of the stock with an approximate value of $24.45 million in BNGO stocks shares; and STATE STREET CORP, currently with $11.89 million in BNGO stock with ownership of nearly 7.298% of the company’s market capitalization.

Positions in Bionano Genomics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 65 institutional holders increased their position in Bionano Genomics Inc. [NASDAQ:BNGO] by around 5,892,324 shares. Additionally, 77 investors decreased positions by around 9,231,981 shares, while 37 investors held positions by with 57,550,301 shares. The mentioned changes placed institutional holdings at 72,674,606 shares, according to the latest SEC report filing. BNGO stock had 18 new institutional investments in for a total of 1,662,655 shares, while 25 institutional investors sold positions of 3,359,572 shares during the same period.