Bionano Genomics (NASDAQ:BNGO) Shares Down 3.8% – Here’s Why

Shares of Bionano Genomics, Inc. (NASDAQ:BNGO) traded down 3.8% during trading on Monday . The company traded as low as $2.68 and last traded at $2.79. 54,663 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 80,189 shares. The stock had previously closed at $2.90.

Analysts Set New Price Targets

Separately, Scotiabank boosted their price objective on Bionano Genomics from $1.00 to $4.00 and gave the company a “sector perform” rating in a research report on Wednesday.

Bionano Genomics Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.43 and a quick ratio of 0.99. The firm has a market cap of $10.25 million, a P/E ratio of -0.03 and a beta of 2.24. The stock’s 50 day moving average is $4.69 and its two-hundred day moving average is $12.98.

Institutional Trading of Bionano Genomics

A number of large investors have recently bought and sold shares of BNGO. Carret Asset Management LLC boosted its stake in shares of Bionano Genomics by 39.9% in the 4th quarter. Carret Asset Management LLC now owns 119,000 shares of the company’s stock valued at $34,000 after purchasing an additional 33,945 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Bionano Genomics by 13.0% during the 4th quarter. Geode Capital Management LLC now owns 997,676 shares of the company’s stock valued at $288,000 after purchasing an additional 114,822 shares during the last quarter. XTX Topco Ltd bought a new position in Bionano Genomics during the 4th quarter valued at about $45,000. Renaissance Technologies LLC acquired a new position in Bionano Genomics in the fourth quarter valued at about $46,000. Finally, Jane Street Group LLC acquired a new stake in shares of Bionano Genomics during the fourth quarter worth approximately $118,000. 11.35% of the stock is currently owned by institutional investors.

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.