Bionano Genomics (NASDAQ:BNGO) Shares Down 4.2%

Bionano Genomics, Inc. (NASDAQ:BNGO) shares dropped 4.2% on Wednesday . The stock traded as low as $0.76 and last traded at $0.76. Approximately 795,720 shares were traded during trading, a decline of 52% from the average daily volume of 1,645,953 shares. The stock had previously closed at $0.79.

Wall Street Analyst Weigh In

Separately, Scotiabank reduced their price target on shares of Bionano Genomics from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 7th.

Bionano Genomics Stock Performance

The stock has a market cap of $42.99 million, a price-to-earnings ratio of -0.12 and a beta of 2.33. The company has a current ratio of 1.40, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average is $1.05 and its two-hundred day moving average is $1.37.

Bionano Genomics (NASDAQ:BNGO) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.96) EPS for the quarter. The business had revenue of $10.72 million during the quarter. Bionano Genomics had a negative net margin of 643.74% and a negative return on equity of 103.68%. As a group, sell-side analysts expect that Bionano Genomics, Inc. will post -2.35 earnings per share for the current year.

Institutional Trading of Bionano Genomics

A number of hedge funds have recently bought and sold shares of BNGO. Cantor Fitzgerald L. P. grew its stake in shares of Bionano Genomics by 22.2% in the 4th quarter. Cantor Fitzgerald L. P. now owns 55,000 shares of the company’s stock valued at $104,000 after buying an additional 10,000 shares during the period. Carret Asset Management LLC purchased a new stake in shares of Bionano Genomics in the 4th quarter valued at approximately $34,000. Headlands Technologies LLC purchased a new stake in shares of Bionano Genomics in the 4th quarter valued at approximately $72,000. Quadrature Capital Ltd purchased a new stake in shares of Bionano Genomics in the 4th quarter valued at approximately $209,000. Finally, Dark Forest Capital Management LP grew its stake in shares of Bionano Genomics by 1,024.2% in the 3rd quarter. Dark Forest Capital Management LP now owns 141,747 shares of the company’s stock valued at $429,000 after buying an additional 129,138 shares during the period. Institutional investors and hedge funds own 11.35% of the company’s stock.

About Bionano Genomics

Bionano Genomics, Inc provides genome analysis software that enables genomics labs to analyze and interpret data across a range of platforms to generate informative data visualizations for streamlined and simple reporting of causal variants. It offers Saphyr, a sample-to-result solution for structural variation analysis by optical genome mapping for genome analysis and understanding of genetic variation and function; Saphyr instrument, a single-molecule imager; Saphyr Chip, a consumable that packages the nanochannel arrays for DNA linearization; and Bionano Prep Kits and DNA labeling kits, which provide the reagents and protocols for extracting and labeling ultra-high molecular weight DNA.