Bionano Genomics (NASDAQ:BNGO) Given New $6.00 Price Target at HC Wainwright

Bionano Genomics (NASDAQ:BNGO) had its target price dropped by stock analysts at HC Wainwright from $7.00 to $6.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 430.97% from the stock’s previous close.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Bionano Genomics in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

Bionano Genomics Stock Performance

NASDAQ BNGO opened at $1.13 on Monday. Bionano Genomics has a twelve month low of $1.06 and a twelve month high of $5.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.74 and a current ratio of 1.98. The stock has a market cap of $12.53 million, a price-to-earnings ratio of -0.24 and a beta of 1.60. The firm’s 50 day moving average price is $1.15 and its two-hundred day moving average price is $1.50.

Bionano Genomics (NASDAQ:BNGO) last posted its quarterly earnings data on Monday, March 23rd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.78. Bionano Genomics had a negative net margin of 92.59% and a negative return on equity of 56.22%. The firm had revenue of ($20,528.49) million for the quarter, compared to analysts’ expectations of $7.88 million.

Hedge Funds Weigh In On Bionano Genomics

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

Bionano Genomics Company Profile

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.