Billiontoone (NASDAQ:BLLN) Trading Up 6% – Time to Buy?

Billiontoone, Inc. (NASDAQ:BLLN)’s stock price was up 6% during trading on Tuesday . The company traded as high as $84.00 and last traded at $83.37. Approximately 130,936 shares were traded during trading, a decline of 45% from the average daily volume of 238,226 shares. The stock had previously closed at $78.65.

Analysts Set New Price Targets

BLLN has been the subject of several recent research reports. Jefferies Financial Group started coverage on shares of Billiontoone in a research report on Monday, December 1st. They issued a “hold” rating and a $117.00 price target for the company. Piper Sandler restated an “overweight” rating on shares of Billiontoone in a research report on Wednesday, December 10th. Zacks Research raised Billiontoone to a “hold” rating in a research note on Tuesday, December 2nd. Wells Fargo & Company started coverage on Billiontoone in a research note on Monday, December 1st. They set an “equal weight” rating and a $110.00 price objective for the company. Finally, Stifel Nicolaus started coverage on shares of Billiontoone in a research note on Monday, December 1st. They issued a “buy” rating and a $145.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.29.

Billiontoone Stock Up 7.7%

The company’s 50 day simple moving average is $86.34. The firm has a market cap of $3.88 billion and a P/E ratio of 846.70.

Billiontoone (NASDAQ:BLLN) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). The business had revenue of $83.52 million for the quarter, compared to analysts’ expectations of $82.86 million.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BLLN. Rossby Financial LCC acquired a new stake in shares of Billiontoone during the 4th quarter worth approximately $25,000. Wells Fargo & Company MN bought a new stake in shares of Billiontoone during the 4th quarter valued at $76,000. Smartleaf Asset Management LLC acquired a new position in shares of Billiontoone in the 4th quarter valued at $80,000. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Billiontoone in the 4th quarter valued at $82,000. Finally, Renaissance Capital LLC bought a new position in shares of Billiontoone in the 4th quarter worth $201,000.

About Billiontoone

BillionToOne (NASDAQ: BLLN) is a molecular diagnostics company that develops and commercializes high-precision genetic testing solutions based on single-molecule counting technology. The company’s platform is designed to detect and quantify rare genetic variants and chromosomal abnormalities from cell-free DNA, with a primary focus on applications in prenatal screening and other clinical genetic tests where sensitivity and specificity at very low allele fractions are critical.

BillionToOne’s offerings center on assay development and clinical testing workflows that enable non-invasive prenatal testing (NIPT) and targeted molecular diagnostics.