Bionano Genomics Inc. [BNGO] Stock trading around $1.95 per share: What’s Next?

Bionano Genomics Inc. [NASDAQ: BNGO] price surged by 7.73 percent to reach at $0.14. The company report on January 12, 2023 that Bionano to Accelerate Data Processing Solution for Optical Genome Mapping Workflow with NVIDIA.

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By combining NVIDIA’s expertise in accelerated computing and the capabilities of the NVIDIA RTX™ 6000 Ada Generation professional GPU with Bionano’s knowledge in extraction, enzymatic treatment, and analysis of ultra-high molecular weight (UHMW) DNA molecules, the collaboration aims to develop on-premise and cloud-based solutions to keep pace with the anticipated data generation needs of high-throughput OGM workflows. The collaborative solution is projected to support analysis of 96 cancer workflows or just over 300 constitutional whole genomes per week and be integrated with Bionano’s NxClinical™ software for variant interpretation and reporting.

A sum of 7297948 shares traded at recent session while its average daily volume was at 7.61M shares. Bionano Genomics Inc. shares reached a high of $1.96 and dropped to a low of $1.775 until finishing in the latest session at $1.95.

The one-year BNGO stock forecast points to a potential upside of 70.9. The average equity rating for BNGO stock is currently 1.40, 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 $6.70 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 1.40. 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.

Scotiabank have made an estimate for Bionano Genomics Inc. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on January 05, 2023. 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 December 12, 2022, representing the official price target for Bionano Genomics Inc. stock. Previously, the target price had yet another raise to $12, while Oppenheimer analysts kept a Outperform 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 22.48. The Price to Book ratio for the last quarter was 2.01, with the Price to Cash per share for the same quarter was set at 0.60.

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 25.81. With this latest performance, BNGO shares dropped by -5.80% in over the last four-week period, additionally plugging by 21.88% over the last 6 months – not to mention a drop of -23.23% 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 60.58, with the RSI for the last a single of trading hit 72.68, and the three-weeks RSI is set at 54.36 for Bionano Genomics Inc. [BNGO]. The present Moving Average for the last 50 days of trading for this stock 1.9868, while it was recorded at 1.8060 for the last single week of trading, and 1.9918 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 5.80 and a Current Ratio set at 6.50.

Bionano Genomics Inc. [BNGO] Insider Position Details

There are presently around $156 million, or 27.30% 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 $30.7 million in BNGO stocks shares; and STATE STREET CORP, currently with $18.49 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 March and at the time of the March reporting period, where 59 institutional holders increased their position in Bionano Genomics Inc. [NASDAQ:BNGO] by around 3,981,497 shares. Additionally, 70 investors decreased positions by around 6,319,564 shares, while 47 investors held positions by with 69,742,115 shares. The mentioned changes placed institutional holdings at 80,043,176 shares, according to the latest SEC report filing. BNGO stock had 20 new institutional investments in for a total of 633,824 shares, while 23 institutional investors sold positions of 1,471,903 shares during the same period.


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