Billiontoone (NASDAQ:BLLN) Trading Up 6.2% – Here’s Why

Billiontoone, Inc. (NASDAQ:BLLN)’s share price rose 6.2% during trading on Monday . The company traded as high as $85.76 and last traded at $84.2960. Approximately 90,486 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 276,484 shares. The stock had previously closed at $79.36.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BLLN shares. Wells Fargo & Company cut their price target on shares of Billiontoone from $110.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 5th. Guggenheim dropped their price objective on Billiontoone from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, March 30th. BTIG Research decreased their target price on Billiontoone from $160.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. JPMorgan Chase & Co. cut their price target on Billiontoone from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Finally, Wall Street Zen raised shares of Billiontoone from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Billiontoone currently has an average rating of “Moderate Buy” and an average price target of $126.71.

Billiontoone Stock Up 4.8%

The company has a market capitalization of $3.82 billion and a P/E ratio of 394.41. The stock has a 50 day moving average of $79.18. The company has a current ratio of 11.69, a quick ratio of 11.32 and a debt-to-equity ratio of 0.12.

Billiontoone (NASDAQ:BLLN) last issued its earnings results on Wednesday, March 4th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. The firm had revenue of $96.05 million during the quarter, compared to analysts’ expectations of $85.85 million. The firm’s quarterly revenue was up 113.0% on a year-over-year basis.

Institutional Investors Weigh In On Billiontoone

A number of large investors have recently added to or reduced their stakes in BLLN. Adams Street Partners LLC acquired a new position in Billiontoone in the 4th quarter worth $140,063,000. Baillie Gifford & Co. acquired a new stake in shares of Billiontoone during the fourth quarter valued at about $103,786,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Billiontoone during the fourth quarter worth about $39,717,000. JPMorgan Chase & Co. acquired a new position in shares of Billiontoone in the fourth quarter worth about $32,078,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Billiontoone in the fourth quarter valued at about $18,631,000.

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.