Bionano Genomics Inc. [BNGO] is -21.74% lower this YTD. Is it still time to buy?

Bionano Genomics Inc. [NASDAQ: BNGO] gained 2.63% on the last trading session, reaching $2.34 price per share at the time. The company report on October 28, 2022 that Bionano Genomics Announces Extensive Lineup of Content at Association for Molecular Pathology (AMP) Annual Meeting Featuring OGM Utility Across Broad Range of Research Applications.

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Dr. Alka Chaubey, chief medical officer at Bionano, Dr. Nikhil Sahajpal, Greenwood Genetic Center, Dr. Rashmi Kanagal-Shamanna, MD Anderson Cancer Center, and Dr. Adam Smith, University Health Network will host a sponsored vendor presentation on studies that include multiple types of hematological malignancies, and highlight the benefits of combining optical genome mapping (OGM) with next generation sequencing (NGS) to maximize actionable results.

A scientific presentation featuring Dr. Chaubey, Dr. Kanagal-Shamanna, Dr. Ravindra Kolhe, Augusta University, and Dr. Christopher Lum, Queens Medical Center will cover methodologies for homologous recombination deficiency (HRD) assessment, including NGS, microarray and OGM, as well as bioinformatics approaches for analysis of data across solid tumors and hematological malignancies.

Bionano Genomics Inc. represents 285.55 million in outstanding shares, while the company has a total market value of $635.71 million with the latest information. BNGO stock price has been found in the range of $2.235 to $2.42.

If compared to the average trading volume of 8.49M shares, BNGO reached a trading volume of 8094911 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 $11.00 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 0.22, with the Price to Sales ratio for BNGO stock in the period of the last 12 months amounting to 27.28. The Price to Book ratio for the last quarter was 2.34, with the Price to Cash per share for the same quarter was set at 0.69.

Trading performance analysis for BNGO stock

Bionano Genomics Inc. [BNGO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.42. With this latest performance, BNGO shares gained by 27.87% in over the last four-week period, additionally plugging by 35.26% over the last 6 months – not to mention a drop of -53.94% 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 55.05, with the RSI for the last a single of trading hit 56.89, and the three-weeks RSI is set at 53.60 for Bionano Genomics Inc. [BNGO]. The present Moving Average for the last 50 days of trading for this stock 2.21, while it was recorded at 2.33 for the last single week of trading, and 2.03 for the last 200 days.

Bionano Genomics Inc. [BNGO]: A deeper dive into fundamental analysis

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.

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

There are presently around $193 million, or 28.90% 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 $36.58 million in BNGO stocks shares; and STATE STREET CORP, currently with $19.69 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 November and at the time of the November reporting period, where 61 institutional holders increased their position in Bionano Genomics Inc. [NASDAQ:BNGO] by around 13,625,497 shares. Additionally, 66 investors decreased positions by around 3,918,015 shares, while 50 investors held positions by with 64,912,038 shares. The mentioned changes placed institutional holdings at 82,455,550 shares, according to the latest SEC report filing. BNGO stock had 22 new institutional investments in for a total of 1,826,410 shares, while 18 institutional investors sold positions of 495,575 shares during the same period.


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