BioNano Genomics (NASDAQ:BNGO) Stock Rating Lowered by Zacks Investment Research

BioNano Genomics (NASDAQ:BNGO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday, Zacks.com reports.

According to Zacks, “BioNano Genomics, Inc. operates as a life sciences instrumentation company in the genome analysis space. The Company offers proprietary nanochannel chips, automated imaging instrument, integrated primary and secondary software, and application specific reagents. BioNano Genomics, Inc. is based in San Diego, United States. “

A number of other equities analysts have also recently issued reports on BNGO. Roth Capital restated a “buy” rating and set a $1.00 price target on shares of BioNano Genomics in a report on Thursday, June 4th. Maxim Group reiterated a “buy” rating and set a $3.00 target price on shares of BioNano Genomics in a research report on Wednesday, April 1st. Finally, Oppenheimer restated a “buy” rating and issued a $1.50 price target on shares of BioNano Genomics in a report on Thursday, June 11th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. BioNano Genomics presently has an average rating of “Buy” and an average target price of $1.50.

BNGO stock opened at $0.51 on Monday. The firm has a market cap of $38.93 million, a price-to-earnings ratio of -0.27 and a beta of 1.49. The company’s fifty day simple moving average is $0.47 and its 200 day simple moving average is $0.72. BioNano Genomics has a 12-month low of $0.25 and a 12-month high of $4.70.

BioNano Genomics (NASDAQ:BNGO) last announced its quarterly earnings data on Thursday, June 18th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). BioNano Genomics had a negative net margin of 344.98% and a negative return on equity of 15,212.64%. The business had revenue of $1.14 million during the quarter, compared to analyst estimates of $1.10 million. Equities analysts anticipate that BioNano Genomics will post -0.46 earnings per share for the current year.

An institutional investor recently bought a new position in BioNano Genomics stock. Geode Capital Management LLC bought a new position in BioNano Genomics Inc (NASDAQ:BNGO) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 252,776 shares of the company’s stock, valued at approximately $313,000. Geode Capital Management LLC owned approximately 0.95% of BioNano Genomics as of its most recent SEC filing. Institutional investors and hedge funds own 2.97% of the company’s stock.

About BioNano Genomics

Bionano Genomics, Inc operates as a life sciences instrumentation company in the genome analysis space. The company develops and markets the Saphyr system, a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets, and to streamline the study of changes in chromosomes, which is known as cytogenetics.

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