Bionano Genomics Inc. [BNGO] moved up 15.14: Why It’s Important


Bionano Genomics Inc. [NASDAQ: BNGO] price surged by 15.14 percent to reach at $0.28. The company report on August 1, 2022 that Bionano Genomics Announces Publication of Landmark Research Study in Myelodysplastic Syndrome Showing OGM Data would Result in Revised Prognostic Risk Classification or Additional Actionable Variants in 28% of Study Participants.

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Bionano Genomics, Inc. (Nasdaq: BNGO) today announced the publication of the first study to evaluate the utility of optical genome mapping (OGM) for myelodysplastic syndrome (MDS) prognostication. In the peer-reviewed study, published in Leukemia, researchers from The University of Texas MD Anderson Cancer Center reported that when OGM was used instead of karyotyping, 17 to 21% of study subjects had different prognostic risk scores and in 13% of study subjects additional pathogenic variants were revealed. The OGM results were also compared to results of a next-generation sequencing (NGS) panel used for molecular pathology. The comparison to NGS showed that the utility of OGM above and beyond that of karyotyping is not provided by NGS.

Corresponding author, Dr. Rashmi Kanagal-Shamanna, from MD Anderson commented, “The results of this study demonstrate that we are grossly under-evaluating the degree of genomic aberrations. Most patients with high-risk MDS are not responsive to available therapies, pointing to the urgent need for new therapeutic alternatives that will improve the clinical outcomes of these patients and better tools to help in that pursuit. This study underscores the potential for OGM to become a single-platform cytogenetic tool for structural variant profiling in indications such as MDS, and shows that when OGM and NGS are combined, the success rate of finding pathogenic variants is higher than with any traditional methods in use today.”.

A sum of 10512348 shares traded at recent session while its average daily volume was at 6.03M shares. Bionano Genomics Inc. shares reached a high of $2.15 and dropped to a low of $1.86 until finishing in the latest session at $2.13.

The one-year BNGO stock forecast points to a potential upside of 75.43. 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 0.14, with the Price to Sales ratio for BNGO stock in the period of the last 12 months amounting to 29.94. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 0.75.

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 26.04. With this latest performance, BNGO shares gained by 58.96% in over the last four-week period, additionally sinking by -4.05% over the last 6 months – not to mention a drop of -64.68% 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 67.80, with the RSI for the last a single of trading hit 72.98, and the three-weeks RSI is set at 63.35 for Bionano Genomics Inc. [BNGO]. The present Moving Average for the last 50 days of trading for this stock 1.6100, while it was recorded at 1.9200 for the last single week of trading, and 2.5800 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 $157 million, or 25.80% 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 $33.82 million in BNGO stocks shares; and STATE STREET CORP, currently with $16.45 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 73 institutional holders increased their position in Bionano Genomics Inc. [NASDAQ:BNGO] by around 7,339,208 shares. Additionally, 70 investors decreased positions by around 9,138,890 shares, while 39 investors held positions by with 57,230,909 shares. The mentioned changes placed institutional holdings at 73,709,007 shares, according to the latest SEC report filing. BNGO stock had 23 new institutional investments in for a total of 2,929,144 shares, while 25 institutional investors sold positions of 3,424,132 shares during the same period.