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

Bionano Genomics Inc. [NASDAQ: BNGO] loss -5.16% or -0.11 points to close at $2.02 with a heavy trading volume of 5475764 shares. The company report on September 21, 2022 that Bionano Genomics Announces Publication of Study Using OGM for Detection of Balanced Chromosomal Rearrangements Found in Recurrent Pregnancy Loss.

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Bionano Genomics, Inc. (Nasdaq: BNGO) today announced the publication of a study utilizing OGM to detect cryptic balanced chromosomal rearrangements (BCRs) found in subjects who experienced recurrent pregnancy loss (RPL). Compared to traditional cytogenetic methods, OGM successfully identified cryptic reciprocal translocation in all samples, improving the success rate for finding pathogenic variants of cryptic BCRs and streamlining the process of detection.

Researchers analyzed samples from 11 couples who dealt with RPL, had a history of an affected child or fetus with chromosome loss or gain, or had a history of infertility to determine OGM’s utility for detection of cryptic BCRs, which can significantly increase the risk of delivering abnormal offspring with congenital malformations or miscarriage for carrier couples. OGM showed 100% concordance with the results from fluorescence in situ hybridization (FISH) and sequencing analyses and revealed additional complex rearrangement events such as inverted aberrations, further refining potential genetic interpretation. The study authors highlighted challenges associated with using traditional methods and cited OGM’s rapid and robust detection of cryptic BCRs with a high resolution as evidence of its potential application as a first-line method in routine clinical genetic testing.

It opened the trading session at $2.12, the shares rose to $2.16 and dropped to $2.01, the range by which the price of stock traded the whole day. The daily chart for BNGO points out that the company has recorded -15.83% loss over the past six months. However, it is still -74.14% lower than its most recent low trading price.

If we look at the average trading volume of 8.09M shares, BNGO reached to a volume of 5475764 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 $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 0.20, with the Price to Sales ratio for BNGO stock in the period of the last 12 months amounting to 26.51. The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 0.61.

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 -14.04. With this latest performance, BNGO shares dropped by -20.78% in over the last four-week period, additionally sinking by -15.83% over the last 6 months – not to mention a drop of -61.08% 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 37.14, with the RSI for the last a single of trading hit 28.48, and the three-weeks RSI is set at 42.38 for Bionano Genomics Inc. [BNGO]. The present Moving Average for the last 50 days of trading for this stock 2.34, while it was recorded at 2.18 for the last single week of trading, and 2.18 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 7.00 and a Current Ratio set at 7.80.

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

There are presently around $167 million, or 28.80% 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 $31.58 million in BNGO stocks shares; and STATE STREET CORP, currently with $17.0 million in BNGO stock with ownership of nearly 8.944% 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 67 institutional holders increased their position in Bionano Genomics Inc. [NASDAQ:BNGO] by around 13,800,780 shares. Additionally, 64 investors decreased positions by around 4,048,530 shares, while 50 investors held positions by with 64,579,200 shares. The mentioned changes placed institutional holdings at 82,428,510 shares, according to the latest SEC report filing. BNGO stock had 25 new institutional investments in for a total of 1,836,074 shares, while 20 institutional investors sold positions of 646,615 shares during the same period.


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