Scotiabank Issues Positive Forecast for Bionano Genomics (NASDAQ:BNGO) Stock Price

Bionano Genomics (NASDAQ:BNGO) had its price target raised by Scotiabank from $1.00 to $4.00 in a research note published on Wednesday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Bionano Genomics Trading Up 21.0 %

BNGO opened at $3.75 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.07. Bionano Genomics has a 52 week low of $2.68 and a 52 week high of $72.60. The business’s 50 day moving average is $4.54 and its two-hundred day moving average is $12.91. The firm has a market cap of $10.25 million, a price-to-earnings ratio of -0.03 and a beta of 2.24.

Institutional Investors Weigh In On Bionano Genomics

Several hedge funds have recently made changes to their positions in BNGO. Carret Asset Management LLC raised its stake 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 acquiring an additional 33,945 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Bionano Genomics during the fourth quarter worth $45,000. Renaissance Technologies LLC purchased a new position in Bionano Genomics in the 4th quarter valued at $46,000. Jane Street Group LLC acquired a new position in Bionano Genomics in the 4th quarter valued at $118,000. Finally, Geode Capital Management LLC raised its position in Bionano Genomics by 13.0% during the 4th quarter. Geode Capital Management LLC now owns 997,676 shares of the company’s stock worth $288,000 after buying an additional 114,822 shares during the last quarter. 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.