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

Bionano Genomics, Inc. (NASDAQ:BNGO)’s share price 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 increased their target price on Bionano Genomics from $1.00 to $4.00 and gave the stock a “sector perform” rating in a report on Wednesday.

Bionano Genomics Price Performance

The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average price is $4.69 and its 200-day moving average price is $12.98. The company has a market capitalization of $10.25 million, a price-to-earnings ratio of -0.03 and a beta of 2.24.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Jane Street Group LLC bought a new stake in shares of Bionano Genomics during the fourth quarter worth $118,000. Geode Capital Management LLC boosted its holdings in Bionano Genomics by 47.3% in the third quarter. Geode Capital Management LLC now owns 882,854 shares of the company’s stock valued at $401,000 after acquiring an additional 283,639 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Bionano Genomics in the fourth quarter worth about $46,000. XTX Topco Ltd bought a new stake in Bionano Genomics during the 4th quarter worth about $45,000. Finally, Carret Asset Management LLC lifted its position in Bionano Genomics by 39.9% during 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 during the period. 11.35% of the stock is currently owned by institutional investors.

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.