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


Bionano Genomics Inc. [NASDAQ: BNGO] jumped around 0.16 points on Wednesday, while shares priced at $1.85 at the close of the session, up 9.47%. The company report on July 26, 2022 that Bionano Genomics Announces its Participation at the Cancer Genomics Consortium 2022 Annual Meeting with 18 OGM Presentations Covering the Cancer Genomics Landscape.

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Dr. Alka Chaubey, chief medical officer at Bionano, will host a sponsored vendor panel presentation on the integration of optical genome mapping (OGM) and next generation sequencing (NGS) for clinical research in leukemia and lymphoma.

Four scientific platform presentations, one each by Dr. Ha Nguyen, MD Anderson Cancer Center, Dr. Adam Smith, University Health Network, Dr. Thuy Phung, University of South Alabama, and Dr. Nikhil Sahajpal, Augusta University, will cover the use of OGM in research on topics including hematological malignancies, angiosarcoma, and myeloid cancers.

Bionano Genomics Inc. stock is now -38.13% down from its year-to-date (YTD) trading value. BNGO Stock saw the intraday high of $1.86 and lowest of $1.68 per share. The company’s 52-week high price is 6.37, which means current price is +59.48% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 6.20M shares, BNGO reached a trading volume of 4222085 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 $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 0.13, with the Price to Sales ratio for BNGO stock in the period of the last 12 months amounting to 28.01. The Price to Book ratio for the last quarter was 1.70, with the Price to Cash per share for the same quarter was set at 0.70.

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 -0.54. With this latest performance, BNGO shares gained by 22.52% in over the last four-week period, additionally sinking by -9.76% over the last 6 months – not to mention a drop of -67.99% 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 59.31, with the RSI for the last a single of trading hit 61.64, and the three-weeks RSI is set at 56.67 for Bionano Genomics Inc. [BNGO]. The present Moving Average for the last 50 days of trading for this stock 1.5854, while it was recorded at 1.8120 for the last single week of trading, and 2.6502 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 -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.

Insider trade positions for Bionano Genomics Inc. [BNGO]

There are presently around $136 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 $29.37 million in BNGO stocks shares; and STATE STREET CORP, currently with $14.29 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 70 institutional holders increased their position in Bionano Genomics Inc. [NASDAQ:BNGO] by around 7,220,212 shares. Additionally, 70 investors decreased positions by around 9,089,586 shares, while 38 investors held positions by with 57,347,092 shares. The mentioned changes placed institutional holdings at 73,656,890 shares, according to the latest SEC report filing. BNGO stock had 20 new institutional investments in for a total of 2,881,615 shares, while 24 institutional investors sold positions of 3,423,132 shares during the same period.