Zacks Investment Research Downgrades BioNano Genomics (BNGO) to Sell

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Zacks Investment Research cut shares of BioNano Genomics (NASDAQ:BNGO) from a hold rating to a sell rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “BioNano Genomics, Inc. operates as a life sciences instrumentation company in the genome analysis space. The Company offers proprietary nanochannel chips, automated imaging instrument, integrated primary and secondary software, and application specific reagents. BioNano Genomics, Inc. is based in San Diego, United States. “

A number of other research firms have also weighed in on BNGO. Maxim Group reiterated a buy rating and issued a $11.00 price objective on shares of BioNano Genomics in a research note on Monday, April 1st. Roth Capital reiterated a buy rating on shares of BioNano Genomics in a research note on Tuesday, February 5th.

Shares of BNGO stock opened at $3.00 on Thursday. BioNano Genomics has a 12-month low of $2.71 and a 12-month high of $10.00. The company has a market cap of $34.16 million and a PE ratio of -1.15. The company has a quick ratio of 5.64, a current ratio of 5.94 and a debt-to-equity ratio of 3.13.

BioNano Genomics (NASDAQ:BNGO) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.12). The company had revenue of $1.85 million for the quarter, compared to analyst estimates of $1.76 million. Equities analysts forecast that BioNano Genomics will post -2.25 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Sio Capital Management LLC grew its stake in BioNano Genomics by 7.1% in the 1st quarter. Sio Capital Management LLC now owns 1,538,424 shares of the company’s stock valued at $4,629,000 after buying an additional 101,963 shares in the last quarter. Monashee Investment Management LLC grew 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. Worth Venture Partners LLC grew its position in shares of BioNano Genomics by 1,666.6% during the 4th quarter. Worth Venture Partners LLC now owns 79,902 shares of the company’s stock valued at $417,000 after purchasing an additional 75,379 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of BioNano Genomics during the 4th quarter valued at $254,000. Institutional investors and hedge funds own 8.79% of the company’s stock.

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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