Bionano Genomics (NASDAQ:BNGO) Trading Up 5.5% – Should You Buy?

Shares of Bionano Genomics, Inc. (NASDAQ:BNGO) shot up 5.5% during trading on Wednesday . The stock traded as high as $5.36 and last traded at $5.35. Approximately 165,486 shares changed hands during trading, a decline of 52% from the average daily volume of 341,812 shares. The stock had previously closed at $5.07.

Analysts Set New Price Targets

Separately, LADENBURG THALM/SH SH lowered Bionano Genomics from a “buy” rating to a “neutral” rating in a report on Friday, November 15th.

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 stock’s 50-day moving average price is $12.97 and its 200-day moving average price is $21.32.

Hedge Funds Weigh In On Bionano Genomics

A number of hedge funds and other institutional investors have recently bought and sold shares of BNGO. Geode Capital Management LLC lifted its position in Bionano Genomics by 47.3% in the 3rd quarter. Geode Capital Management LLC now owns 882,854 shares of the company’s stock valued at $401,000 after purchasing an additional 283,639 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Bionano Genomics in the 3rd quarter valued at approximately $46,000. Finally, Carret Asset Management LLC boosted its position in Bionano Genomics by 89.0% during the 3rd quarter. Carret Asset Management LLC now owns 85,055 shares of the company’s stock worth $39,000 after acquiring an additional 40,055 shares during the period. 11.35% of the stock is currently owned by institutional investors and hedge funds.

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.