BioNexus Gene Lab (NASDAQ:BGLC) Shares Down 6.5% – Time to Sell?

BioNexus Gene Lab Corp. (NASDAQ:BGLC) shares dropped 6.5% during trading on Monday. The stock traded as low as $1.27 and last traded at $1.30. Approximately 11,408 shares traded hands during mid-day trading, an increase of 198% from the average daily volume of 3,831 shares. The stock had previously closed at $1.39.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut BioNexus Gene Lab from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 18th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, BioNexus Gene Lab presently has a consensus rating of “Sell”.

BioNexus Gene Lab Stock Down 1.9%

The company’s 50 day moving average price is $1.48 and its two-hundred day moving average price is $1.93. The firm has a market cap of $3.65 million, a PE ratio of -0.99 and a beta of 4.19. The company has a current ratio of 6.08, a quick ratio of 5.28 and a debt-to-equity ratio of 0.01.

BioNexus Gene Lab (NASDAQ:BGLC) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.12) EPS for the quarter. BioNexus Gene Lab had a negative return on equity of 32.92% and a negative net margin of 82.38%.The company had revenue of $0.08 million during the quarter.

About BioNexus Gene Lab

BioNexus Gene Lab Corp. (NASDAQ:BGLC) is a biotechnology and molecular diagnostics company focused on developing genetic tests intended to support the early detection of cancer and other diseases. Its diagnostic work uses blood-based and molecular analysis to identify biological indicators that may help healthcare providers assess disease risk and guide further evaluation.

The company operates through two primary business areas: Molecular Diagnostics and Chemical Trading. The Molecular Diagnostics segment develops and commercializes genetic testing products, while the Chemical Trading segment distributes industrial chemicals and related products to customers in its served markets.

BioNexus Gene Lab is headquartered in Kuala Lumpur, Malaysia, and its operations have included activities in the Malaysian market.