Bionano Genomics Inc. [BNGO] Is Currently 6.51 above its 200 Period Moving Avg: What Does This Mean?

Bionano Genomics Inc. [NASDAQ: BNGO] surged by $0.22 during the normal trading session on Friday and reaching a high of $3.70 during the day while it closed the day at $3.60. The company report on August 11, 2022 that Bionano Genomics Announces First Publication Using OGM for Detection of Repeat Expansions in CANVAS and Adult-Onset Ataxia.

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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) in the analysis of repeat expansion disorders. Repeat expansion disorders are a class of disorders that impact approximately 1 in 3,000 people and are caused by expansions of short tandem DNA repeats.

Researchers in this study describe how OGM can be adopted as an alternative to Southern blot analysis for the identification of repeat expansions in the RFC1 gene that lead to cerebellar ataxia with neuropathy and bilateral vestibular areflexia syndrome (CANVAS) and adult-onset ataxia in multiple populations. Individuals with RFC1 (AAGGG)n repeat expansion disorder may present with a spectrum of features including cerebellar ataxia, neuropathy, and vestibular areflexia. Specifically, ataxias are a group of neurodegenerative repeat expansion disorders, characterized by atrophy of the cerebellum that leads to the inability to control balance and coordination. Even though there are many known cerebellar ataxia–causing genes and variations, some adult patients with adult-onset ataxia remain genetically undiagnosed, and studies to identify genetic causes are ongoing.

Bionano Genomics Inc. stock has also gained 49.38% of its value over the past 7 days. However, BNGO stock has inclined by 155.32% in the 3 months of the year. Over the past six months meanwhile, it has gained 53.85% and gained 20.40% year-on date.

The market cap for BNGO stock reached $980.71 million, with 285.55 million shares outstanding and 284.59 million shares in the current float. Compared to the average trading volume of 7.61M shares, BNGO reached a trading volume of 20856235 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 0.30, with the Price to Sales ratio for BNGO stock in the period of the last 12 months amounting to 42.09. The Price to Book ratio for the last quarter was 3.60, with the Price to Cash per share for the same quarter was set at 0.69.

BNGO stock trade performance evaluation

Bionano Genomics Inc. [BNGO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 49.38. With this latest performance, BNGO shares gained by 138.41% in over the last four-week period, additionally plugging by 53.85% over the last 6 months – not to mention a drop of -39.60% 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 81.24, with the RSI for the last a single of trading hit 84.58, and the three-weeks RSI is set at 77.48 for Bionano Genomics Inc. [BNGO]. The present Moving Average for the last 50 days of trading for this stock 1.79, while it was recorded at 2.96 for the last single week of trading, and 2.48 for the last 200 days.

Bionano Genomics Inc. [BNGO]: An insightful look at the core 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 7.00 and a Current Ratio set at 7.80.

Bionano Genomics Inc. [BNGO]: Insider Ownership positions

There are presently around $286 million, or 25.60% of BNGO stock, in the hands of institutional investors. The top three institutional holders of BNGO stocks are: BLACKROCK INC. with ownership of 21,021,575, which is approximately 13.046% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 15,634,397 shares of the stock with an approximate value of $56.28 million in BNGO stocks shares; and STATE STREET CORP, currently with $27.81 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 64 institutional holders increased their position in Bionano Genomics Inc. [NASDAQ:BNGO] by around 11,272,967 shares. Additionally, 78 investors decreased positions by around 8,652,460 shares, while 43 investors held positions by with 59,609,232 shares. The mentioned changes placed institutional holdings at 79,534,659 shares, according to the latest SEC report filing. BNGO stock had 22 new institutional investments in for a total of 1,804,894 shares, while 26 institutional investors sold positions of 2,648,034 shares during the same period.


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