BTIG Research Downgrades Bionano Genomics (NASDAQ:BNGO) to Neutral

Bionano Genomics (NASDAQ:BNGO) was downgraded by equities researchers at BTIG Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, MarketBeat reports.

Separately, Scotiabank restated a “sector perform” rating and set a $1.00 target price (down previously from $6.00) on shares of Bionano Genomics in a research report on Wednesday, August 28th.

Bionano Genomics Stock Performance

Bionano Genomics stock opened at $0.45 on Tuesday. Bionano Genomics has a fifty-two week low of $0.31 and a fifty-two week high of $3.85. The company has a market capitalization of $38.27 million, a price-to-earnings ratio of -0.07 and a beta of 2.31. The stock has a fifty day moving average of $0.54 and a two-hundred day moving average of $0.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.11 and a current ratio of 1.63.

Bionano Genomics (NASDAQ:BNGO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter. Bionano Genomics had a negative net margin of 557.98% and a negative return on equity of 151.27%. The company had revenue of $7.77 million for the quarter. On average, analysts anticipate that Bionano Genomics will post -1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Cantor Fitzgerald L. P. boosted its position in shares of Bionano Genomics by 22.2% in the fourth quarter. Cantor Fitzgerald L. P. now owns 55,000 shares of the company’s stock worth $104,000 after acquiring an additional 10,000 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Bionano Genomics during the 4th quarter worth $209,000. GSA Capital Partners LLP increased its stake in Bionano Genomics by 532.7% during the first quarter. GSA Capital Partners LLP now owns 549,789 shares of the company’s stock worth $610,000 after acquiring an additional 462,887 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Bionano Genomics by 123.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 70,370 shares of the company’s stock worth $79,000 after purchasing an additional 38,900 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Bionano Genomics in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 11.35% of the company’s stock.

Bionano Genomics Company Profile

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.