Bionano Genomics, Inc. (NASDAQ:BNGO) Shares Shorted: Short Interest Up 77.9% in September

Bionano Genomics, Inc. (NASDAQ:BNGO) saw a large growth in short interest in September. As of September 30th, there was short interest totaling 2,035,020 shares, a growth of 77.9% from the September 15th total of 1,144,194 shares. Based on an average daily volume of 978,648 shares, the days-to-cover ratio is presently 2.1 days. Currently, 17.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BNGO. Weiss Ratings upgraded shares of Bionano Genomics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, September 2nd. Wall Street Zen raised shares of Bionano Genomics to a “hold” rating in a report on Saturday, September 26th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Bionano Genomics Stock Performance

Shares of BNGO stock remained flat at $1.37 on Thursday. 10,787 shares of the stock traded hands, compared to its average volume of 463,976. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.96 and a current ratio of 2.48. The company has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $1.25. Bionano Genomics has a one year low of $1.00 and a one year high of $2.23. The firm has a market cap of $16.13 million, a price-to-earnings ratio of -0.45 and a beta of 1.66.

Bionano Genomics (NASDAQ:BNGO) last announced its earnings results on Monday, August 10th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.67) by $0.03. Bionano Genomics had a negative net margin of 106.58% and a negative return on equity of 78.78%. The firm had revenue of ($6.67) million for the quarter, compared to the consensus estimate of $7.55 million. On average, analysts expect that Bionano Genomics will post -2.49 earnings per share for the current year.

Institutional Investors Weigh In On Bionano Genomics

An institutional investor recently raised its stake in Bionano Genomics stock. Renaissance Technologies LLC raised its stake in Bionano Genomics, Inc. (NASDAQ:BNGO) by 31.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,700 shares of the company’s stock after purchasing an additional 11,700 shares during the period. Renaissance Technologies LLC owned 0.44% of Bionano Genomics worth $57,000 at the end of the most recent quarter. Institutional investors own 11.35% of the company’s stock.

Bionano Genomics Company Profile

Bionano Genomics, Inc is a life sciences company that develops genomic analysis solutions based on optical genome mapping (OGM). Its technology is designed to identify structural variations and other genomic abnormalities that may be difficult to detect with traditional sequencing and cytogenetic methods.

The company’s principal platform is the Saphyr system, which includes instrumentation, consumables and software for analyzing ultra-long DNA molecules. Bionano also provides data-analysis tools and informatics solutions intended to support research and clinical workflows in areas such as constitutional genetics, oncology and hematologic malignancies.

Bionano Genomics serves academic, government, pharmaceutical and biotechnology researchers, as well as clinical laboratories in the United States and international markets.