Bionano Genomics (NASDAQ:BNGO) Posts Earnings Results, Beats Expectations By $0.03 EPS

Bionano Genomics (NASDAQ:BNGO) announced its earnings results on Monday. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.67) by $0.03, FiscalAI reports. The business had revenue of ($6.67) million during the quarter, compared to analysts’ expectations of $7.55 million. Bionano Genomics had a negative net margin of 109.94% and a negative return on equity of 71.38%.

Bionano Genomics Price Performance

Shares of BNGO remained flat at $1.16 during mid-day trading on Monday. 239,777 shares of the stock traded hands, compared to its average volume of 227,647. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.84. Bionano Genomics has a 12 month low of $1.00 and a 12 month high of $5.50. The stock has a 50 day moving average of $1.15 and a 200-day moving average of $1.19. The stock has a market capitalization of $13.32 million, a price-to-earnings ratio of -0.27 and a beta of 1.63.

Analysts Set New Price Targets

A number of research firms recently issued reports on BNGO. Wall Street Zen raised Bionano Genomics to a “hold” rating in a research report on Saturday, June 13th. HC Wainwright lowered their price target on Bionano Genomics from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Bionano Genomics in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Bionano Genomics currently has a consensus rating of “Hold” and an average price target of $6.00.

Institutional Investors Weigh In On Bionano Genomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in BNGO. Carret Asset Management LLC increased its stake in shares of Bionano Genomics by 76.4% in the 4th quarter. Carret Asset Management LLC now owns 44,100 shares of the company’s stock valued at $67,000 after purchasing an additional 19,100 shares during the last quarter. Jane Street Group LLC bought a new position in Bionano Genomics in the fourth quarter valued at about $34,000. DRW Securities LLC bought a new position in Bionano Genomics in the fourth quarter valued at about $258,000. Renaissance Technologies LLC acquired a new position in Bionano Genomics during the fourth quarter worth about $57,000. Finally, Geode Capital Management LLC raised its stake in Bionano Genomics by 148.8% during the fourth quarter. Geode Capital Management LLC now owns 66,766 shares of the company’s stock worth $102,000 after acquiring an additional 39,928 shares in the last quarter. 11.35% of the stock is currently owned by institutional investors.

About Bionano Genomics

Bionano Genomics, Inc (NASDAQ: BNGO) develops and commercializes high‐resolution genome analysis tools designed to map structural variants and large‐scale genomic rearrangements. At the core of its technology is the Saphyr® optical genome mapping system, which uses nanochannel arrays to linearize megabase‐length DNA molecules, proprietary fluorescent labeling reagents to highlight specific sequence motifs, and advanced image processing software to detect structural changes with high sensitivity.