Bionano Genomics (NASDAQ:BNGO) Shares Gap Down – Here’s Why

Bionano Genomics, Inc. (NASDAQ:BNGO) gapped down before the market opened on Tuesday . The stock had previously closed at $5.82, but opened at $5.70. Bionano Genomics shares last traded at $5.42, with a volume of 63,738 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH downgraded Bionano Genomics from a “buy” rating to a “neutral” rating in a research report on Friday, November 15th.

Bionano Genomics Stock Down 10.8 %

The company has a fifty day moving average of $13.43 and a two-hundred day moving average of $21.79. The company has a market cap of $606.70 million, a PE ratio of -2.24 and a beta of 2.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 1.43.

Institutional Trading of Bionano Genomics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Carret Asset Management LLC increased its stake in Bionano Genomics by 89.0% in the third quarter. Carret Asset Management LLC now owns 85,055 shares of the company’s stock worth $39,000 after purchasing an additional 40,055 shares during the period. GSA Capital Partners LLP purchased a new stake in Bionano Genomics in the third quarter worth $46,000. Finally, Geode Capital Management LLC increased its stake in Bionano Genomics by 47.3% in the third quarter. Geode Capital Management LLC now owns 882,854 shares of the company’s stock worth $401,000 after purchasing an additional 283,639 shares during the period. Hedge funds and other institutional investors own 11.35% of the company’s stock.

About Bionano Genomics

Bionano Genomics, Inc provides genome analysis software that enables genomics labs to analyze and interpret data across a range of platforms to generate informative data visualizations for streamlined and simple reporting of causal variants. It offers Saphyr, a sample-to-result solution for structural variation analysis by optical genome mapping for genome analysis and understanding of genetic variation and function; Saphyr instrument, a single-molecule imager; Saphyr Chip, a consumable that packages the nanochannel arrays for DNA linearization; and Bionano Prep Kits and DNA labeling kits, which provide the reagents and protocols for extracting and labeling ultra-high molecular weight DNA.