Billiontoone (NASDAQ:BLLN) Stock Price Down 4.6% – Here’s What Happened

Billiontoone, Inc. (NASDAQ:BLLN)’s stock price dropped 4.6% during trading on Wednesday. The stock traded as low as $112.75 and last traded at $112.72. Approximately 74,648 shares traded hands during trading, a decline of 86% from the average daily volume of 548,232 shares. The stock had previously closed at $118.18.

Analyst Upgrades and Downgrades

BLLN has been the topic of several research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Billiontoone in a research report on Friday, September 18th. Zacks Research cut Billiontoone from a “hold” rating to a “strong sell” rating in a research report on Monday, August 31st. Canaccord Genuity Group assumed coverage on Billiontoone in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $120.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Billiontoone from $145.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Finally, BTIG Research lowered their target price on shares of Billiontoone from $142.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $125.88.

Billiontoone Stock Performance

The company has a current ratio of 11.69, a quick ratio of 11.31 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $108.37 and its 200 day simple moving average is $99.23. The company has a market cap of $5.24 billion and a price-to-earnings ratio of 158.46.

Billiontoone (NASDAQ:BLLN) last issued its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The business had revenue of $109.45 million for the quarter. Billiontoone had a return on equity of 9.96% and a net margin of 8.04%. As a group, analysts anticipate that Billiontoone, Inc. will post 0.83 earnings per share for the current year.

Insiders Place Their Bets

In other Billiontoone news, CEO Oguzhan Atay sold 32,500 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $136.95, for a total value of $4,450,875.00. Following the completion of the sale, the chief executive officer directly owned 20,000 shares of the company’s stock, valued at $2,739,000. This trade represents a 61.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO David Tsao sold 20,000 shares of Billiontoone stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $98.77, for a total value of $1,975,400.00. Following the transaction, the chief technology officer owned 1,000 shares in the company, valued at approximately $98,770. This represents a 95.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 244,108 shares of company stock valued at $27,991,574. Insiders own 50.22% of the company’s stock.

Institutional Investors Weigh In On Billiontoone

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MCF Advisors LLC raised its stake in Billiontoone by 330.8% during the second quarter. MCF Advisors LLC now owns 448 shares of the company’s stock worth $54,000 after purchasing an additional 344 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Billiontoone in the 2nd quarter valued at approximately $29,000. Thrive Wealth Management LLC purchased a new stake in shares of Billiontoone in the 2nd quarter valued at approximately $240,000. Jasper Ridge Partners L.P. acquired a new stake in shares of Billiontoone during the 2nd quarter worth approximately $615,000. Finally, Wasatch Advisors LP increased its holdings in shares of Billiontoone by 40.2% during the 2nd quarter. Wasatch Advisors LP now owns 518,084 shares of the company’s stock worth $62,160,000 after buying an additional 148,446 shares during the last quarter.

About Billiontoone

BillionToOne, Inc is a molecular diagnostics company that develops blood-based tests designed to provide genetic and health information from small amounts of biological material. The company’s technology uses its proprietary quantitative counting template approach to improve the accuracy and sensitivity of molecular testing.

The company’s primary offerings include UNITY, a portfolio of prenatal genetic tests. These services support screening for chromosomal conditions, single-gene disorders and carrier status, and are designed to help healthcare providers assess fetal and maternal genetic risks using a maternal blood sample.