Bionano Genomics Inc. [BNGO] moved down -8.11: Why It’s Important

Bionano Genomics Inc. [NASDAQ: BNGO] slipped around -0.18 points on Monday, while shares priced at $2.04 at the close of the session, down -8.11%. The company report on November 28, 2022 that Bionano Genomics to Acquire Purigen Biosystems to Enable Further Simplified and Accelerated DNA Isolation for Optical Genome Mapping (OGM) and Address Difficult Sample Types in New Applications with Isotachophoresis (ITP) on the Ionic Purification System.

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Acquisition adds isotachophoresis (ITP), a proprietary technology licensed exclusively from Stanford University and developed by Purigen Biosystems for isolation and purification of nucleic acids, to the arsenal of tools for potentially simplifying ultra high molecular weight (UHMW) DNA isolation and purification for optical genome mapping (OGM) with more consistency at scale.

Adds the Ionic® Purification System, a commercially available platform for isolation of DNA and RNA from complex biological samples including those with low cell counts or otherwise challenging types such as formalin-fixed paraffin embedded (FFPE) tumor tissue, to Bionano’s portfolio of products.

Bionano Genomics Inc. stock is now -31.77% down from its year-to-date (YTD) trading value. BNGO Stock saw the intraday high of $2.22 and lowest of $2.02 per share. The company’s 52-week high price is 4.35, which means current price is +75.86% above from all time high which was touched on 08/11/22.

Compared to the average trading volume of 6.48M shares, BNGO reached a trading volume of 5788570 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 0.21, with the Price to Sales ratio for BNGO stock in the period of the last 12 months amounting to 23.08. The Price to Book ratio for the last quarter was 2.10, with the Price to Cash per share for the same quarter was set at 0.62.

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 -17.41. With this latest performance, BNGO shares dropped by -4.45% in over the last four-week period, additionally plugging by 16.57% over the last 6 months – not to mention a drop of -49.00% 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 40.64, with the RSI for the last a single of trading hit 33.61, and the three-weeks RSI is set at 44.13 for Bionano Genomics Inc. [BNGO]. The present Moving Average for the last 50 days of trading for this stock 2.18, while it was recorded at 2.19 for the last single week of trading, and 2.05 for the last 200 days.

Bionano Genomics Inc. [BNGO]: Deeper insight into the fundamentals

Bionano Genomics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.80 and a Current Ratio set at 6.50.

Insider trade positions for Bionano Genomics Inc. [BNGO]

There are presently around $163 million, or 27.40% of BNGO stock, in the hands of institutional investors. The top three institutional holders of BNGO stocks are: BLACKROCK INC. with ownership of 21,617,405, which is approximately 2.834% of the company’s market cap and around 1.87% of the total institutional ownership; VANGUARD GROUP INC, holding 15,744,729 shares of the stock with an approximate value of $32.12 million in BNGO stocks shares; and STATE STREET CORP, currently with $19.34 million in BNGO stock with ownership of nearly 12.684% 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 57 institutional holders increased their position in Bionano Genomics Inc. [NASDAQ:BNGO] by around 4,017,521 shares. Additionally, 71 investors decreased positions by around 6,334,605 shares, while 50 investors held positions by with 69,663,807 shares. The mentioned changes placed institutional holdings at 80,015,933 shares, according to the latest SEC report filing. BNGO stock had 20 new institutional investments in for a total of 696,451 shares, while 24 institutional investors sold positions of 1,486,944 shares during the same period.

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