BioNano Genomics (BNGO) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of BioNano Genomics (NASDAQ:BNGO) from a sell rating to a hold rating in a report issued on Friday morning, Zacks.com reports.

According to Zacks, “BioNano Genomics, Inc. operates as a life sciences instrumentation company in the genome analysis space. The Company offers proprietary nanochannel chips, automated imaging instrument, integrated primary and secondary software, and application specific reagents. BioNano Genomics, Inc. is based in San Diego, United States. “

Other equities analysts have also issued research reports about the stock. Maxim Group reissued a buy rating on shares of BioNano Genomics in a research report on Friday, May 10th. Roth Capital reissued a buy rating on shares of BioNano Genomics in a research report on Tuesday, February 5th.

Shares of NASDAQ:BNGO remained flat at $$3.15 during trading on Friday. 3,760 shares of the stock were exchanged, compared to its average volume of 6,092. BioNano Genomics has a 12 month low of $2.71 and a 12 month high of $10.00. The company has a market capitalization of $34.16 million and a price-to-earnings ratio of -1.21. The company has a debt-to-equity ratio of 3.13, a quick ratio of 4.85 and a current ratio of 5.94.

BioNano Genomics (NASDAQ:BNGO) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.68) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.12). The firm had revenue of $1.85 million for the quarter, compared to the consensus estimate of $1.76 million. As a group, research analysts expect that BioNano Genomics will post -2.25 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC bought a new position in BioNano Genomics during the fourth quarter worth $254,000. Worth Venture Partners LLC increased its position in BioNano Genomics by 1,666.6% during the fourth quarter. Worth Venture Partners LLC now owns 79,902 shares of the company’s stock worth $417,000 after acquiring an additional 75,379 shares during the period. Monashee Investment Management LLC increased its position in BioNano Genomics by 50.6% during the fourth quarter. Monashee Investment Management LLC now owns 245,860 shares of the company’s stock worth $1,288,000 after acquiring an additional 82,595 shares during the period. Finally, Sio Capital Management LLC increased its position in BioNano Genomics by 7.1% during the first quarter. Sio Capital Management LLC now owns 1,538,424 shares of the company’s stock worth $4,629,000 after acquiring an additional 101,963 shares during the period. 10.33% of the stock is currently owned by institutional investors and hedge funds.

BioNano Genomics Company Profile

Bionano Genomics, Inc operates as a life sciences instrumentation company in the genome analysis space. The company develops and markets the Saphyr system, a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets, and to streamline the study of changes in chromosomes, which is known as cytogenetics.

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