BioNano Genomics’ (BNGO) Buy Rating Reiterated at Maxim Group

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Maxim Group reaffirmed their buy rating on shares of BioNano Genomics (NASDAQ:BNGO) in a research report sent to investors on Monday morning.

“Bionano reported (on 3/14) 4Q18 and YE18 with revenue of $4M and $12M, respectively, representing y/y growth of 41% and 26%. The company reported a net loss for the year of ($18.5M) and ended the period with $16.5M in cash on the balance sheet.”,” Maxim Group’s analyst commented.

BNGO has been the topic of several other reports. Zacks Investment Research lowered shares of BioNano Genomics from a hold rating to a sell rating in a research note on Monday, December 31st. ValuEngine lowered shares of BioNano Genomics from a buy rating to a hold rating in a research note on Friday, December 21st. Finally, Roth Capital reissued a buy rating on shares of BioNano Genomics in a research note on Tuesday, February 5th.

BNGO stock opened at $4.71 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.85 and a current ratio of 5.09. BioNano Genomics has a 52-week low of $3.50 and a 52-week high of $10.00. The stock has a market cap of $45.75 million and a PE ratio of -1.80.

BioNano Genomics (NASDAQ:BNGO) last posted its earnings results on Thursday, March 14th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.14). The firm had revenue of $4.01 million for the quarter, compared to analyst estimates of $3.71 million. Sell-side analysts forecast that BioNano Genomics will post -1.8 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in BioNano Genomics in the 4th quarter valued at about $254,000. Worth Venture Partners LLC lifted its stake in BioNano Genomics by 1,666.6% in the 4th quarter. Worth Venture Partners LLC now owns 79,902 shares of the company’s stock valued at $417,000 after buying an additional 75,379 shares in the last quarter. Monashee Investment Management LLC lifted its stake in BioNano Genomics by 50.6% in the 4th quarter. Monashee Investment Management LLC now owns 245,860 shares of the company’s stock valued at $1,288,000 after buying an additional 82,595 shares in the last quarter. Sio Capital Management LLC purchased a new position in BioNano Genomics in the 3rd quarter valued at about $7,353,000. Finally, Federated Investors Inc. PA purchased a new position in BioNano Genomics in the 3rd quarter valued at about $56,704,000. 11.50% of the stock is currently owned by hedge funds and other institutional investors.

BioNano Genomics Company Profile

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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