Billiontoone (NASDAQ:BLLN) Shares Up 6% – Here’s What Happened

Billiontoone, Inc. (NASDAQ:BLLN)’s stock price was up 6% on Tuesday . The stock traded as high as $84.00 and last traded at $83.37. Approximately 130,936 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 238,226 shares. The stock had previously closed at $78.65.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BLLN. BTIG Research reiterated a “buy” rating and issued a $160.00 price target on shares of Billiontoone in a research report on Wednesday, December 10th. Guggenheim initiated coverage on shares of Billiontoone in a research note on Tuesday, January 6th. They issued a “buy” rating and a $120.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of Billiontoone from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Stifel Nicolaus began coverage on shares of Billiontoone in a report on Monday, December 1st. They issued a “buy” rating and a $145.00 price target for the company. Finally, Jefferies Financial Group began coverage on shares of Billiontoone in a research report on Monday, December 1st. They issued a “hold” rating and a $117.00 price objective for the company. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Billiontoone currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.29.

Billiontoone Stock Up 7.7%

The business has a 50 day simple moving average of $86.34. The company has a market capitalization of $3.88 billion and a PE ratio of 846.70.

Billiontoone (NASDAQ:BLLN) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $83.52 million during the quarter, compared to the consensus estimate of $82.86 million.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BLLN. Next Century Growth Investors LLC bought a new stake in shares of Billiontoone during the 4th quarter worth approximately $3,000,000. Adams Street Partners LLC acquired a new stake in Billiontoone in the fourth quarter valued at $140,063,000. Capital International Investors bought a new position in shares of Billiontoone in the 4th quarter valued at about $14,568,000. Seven Grand Managers LLC acquired a new position in shares of Billiontoone during the 4th quarter worth about $2,046,000. Finally, UBS Group AG bought a new stake in shares of Billiontoone in the 4th quarter valued at about $2,586,000.

Billiontoone Company Profile

BillionToOne (NASDAQ: BLLN) is a molecular diagnostics company that develops and commercializes high-precision genetic testing solutions based on single-molecule counting technology. The company’s platform is designed to detect and quantify rare genetic variants and chromosomal abnormalities from cell-free DNA, with a primary focus on applications in prenatal screening and other clinical genetic tests where sensitivity and specificity at very low allele fractions are critical.

BillionToOne’s offerings center on assay development and clinical testing workflows that enable non-invasive prenatal testing (NIPT) and targeted molecular diagnostics.