Bionano Genomics (NASDAQ:BNGO) Rating Increased to Buy at Maxim Group

Maxim Group upgraded shares of Bionano Genomics (NASDAQ:BNGO) from a hold rating to a buy rating in a research note published on Tuesday morning,Benzinga reports. The firm currently has $8.00 target price on the stock.

BNGO has been the topic of several other research reports. Scotiabank increased their target price on shares of Bionano Genomics from $1.00 to $4.00 and gave the company a “sector perform” rating in a report on Wednesday, April 2nd. HC Wainwright began coverage on shares of Bionano Genomics in a research report on Wednesday, April 9th. They set a “buy” rating and a $10.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.33.

Bionano Genomics Stock Performance

Shares of NASDAQ BNGO opened at $3.77 on Tuesday. The stock has a market cap of $12.68 million, a price-to-earnings ratio of -0.03 and a beta of 2.36. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.07. Bionano Genomics has a 1-year low of $2.68 and a 1-year high of $70.80. The stock’s 50-day moving average is $3.68 and its 200 day moving average is $8.31.

Bionano Genomics (NASDAQ:BNGO) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($1.15) EPS for the quarter, beating analysts’ consensus estimates of ($3.49) by $2.34. The business had revenue of $6.46 million for the quarter, compared to analysts’ expectations of $6.25 million. Bionano Genomics had a negative net margin of 407.34% and a negative return on equity of 154.45%.

Institutional Trading of Bionano Genomics

Several hedge funds and other institutional investors have recently bought and sold shares of BNGO. Geode Capital Management LLC grew its holdings in shares of Bionano Genomics by 13.0% in the fourth quarter. Geode Capital Management LLC now owns 997,676 shares of the company’s stock worth $288,000 after purchasing an additional 114,822 shares during the last quarter. Jane Street Group LLC purchased a new stake in Bionano Genomics during the 4th quarter valued at $118,000. Renaissance Technologies LLC bought a new stake in Bionano Genomics in the 4th quarter worth $46,000. XTX Topco Ltd bought a new stake in Bionano Genomics in the 4th quarter worth $45,000. Finally, Carret Asset Management LLC increased its position in shares of Bionano Genomics by 39.9% in the fourth 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 period. Institutional investors own 11.35% of the company’s stock.

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.