Bionano Genomics (NASDAQ:BNGO) Shares Down 4.2%

Shares of Bionano Genomics, Inc. (NASDAQ:BNGO) dropped 4.2% during trading on Wednesday . The company traded as low as $0.76 and last traded at $0.76. Approximately 795,720 shares traded hands during trading, a decline of 52% from the average daily volume of 1,645,953 shares. The stock had previously closed at $0.79.

Analysts Set New Price Targets

Separately, Scotiabank reduced their target price on shares of Bionano Genomics from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 7th.

Bionano Genomics Price Performance

The company has a market cap of $42.99 million, a price-to-earnings ratio of -0.12 and a beta of 2.33. The company has a 50 day moving average price of $1.05 and a 200-day moving average price of $1.37. The company has a quick ratio of 1.17, a current ratio of 1.40 and a debt-to-equity ratio of 0.04.

Bionano Genomics (NASDAQ:BNGO) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.96) EPS for the quarter. Bionano Genomics had a negative net margin of 643.74% and a negative return on equity of 103.68%. The company had revenue of $10.72 million during the quarter. As a group, equities research analysts predict that Bionano Genomics, Inc. will post -2.35 EPS for the current fiscal year.

Institutional Trading of Bionano Genomics

Hedge funds and other institutional investors have recently modified their holdings of the business. Dark Forest Capital Management LP raised its stake in shares of Bionano Genomics by 1,024.2% during the 3rd quarter. Dark Forest Capital Management LP now owns 141,747 shares of the company’s stock valued at $429,000 after purchasing an additional 129,138 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Bionano Genomics in the 4th quarter worth about $209,000. Cantor Fitzgerald L. P. boosted its holdings in shares of Bionano Genomics by 22.2% in the 4th quarter. Cantor Fitzgerald L. P. now owns 55,000 shares of the company’s stock worth $104,000 after purchasing an additional 10,000 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Bionano Genomics during the 4th quarter valued at about $72,000. Finally, Carret Asset Management LLC purchased a new stake in Bionano Genomics during the 4th quarter valued at about $34,000. Institutional investors own 11.35% of the company’s stock.

About Bionano Genomics

Bionano Genomics, Inc provides genome analysis software that enables genomics labs to analyze and interpret data across a range of platforms to generate informative data visualizations for streamlined and simple reporting of causal variants. It offers Saphyr, a sample-to-result solution for structural variation analysis by optical genome mapping for genome analysis and understanding of genetic variation and function; Saphyr instrument, a single-molecule imager; Saphyr Chip, a consumable that packages the nanochannel arrays for DNA linearization; and Bionano Prep Kits and DNA labeling kits, which provide the reagents and protocols for extracting and labeling ultra-high molecular weight DNA.