Bionano Genomics (NASDAQ:BNGO) Shares Gap Down – Here’s Why

Bionano Genomics, Inc. (NASDAQ:BNGO)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $5.82, but opened at $5.70. Bionano Genomics shares last traded at $5.42, with a volume of 63,738 shares trading hands.

Wall Street Analyst Weigh In

Separately, LADENBURG THALM/SH SH lowered Bionano Genomics from a “buy” rating to a “neutral” rating in a research note on Friday, November 15th.

Bionano Genomics Stock Performance

The firm has a 50 day moving average price of $13.43 and a 200 day moving average price of $21.79. The stock has a market cap of $606.70 million, a PE ratio of -2.24 and a beta of 2.22. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.07.

Institutional Investors Weigh In On Bionano Genomics

A number of institutional investors have recently added to or reduced their stakes in BNGO. Carret Asset Management LLC boosted its position in Bionano Genomics by 89.0% during the third quarter. Carret Asset Management LLC now owns 85,055 shares of the company’s stock valued at $39,000 after purchasing an additional 40,055 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Bionano Genomics during the third quarter worth about $46,000. Finally, Geode Capital Management LLC grew its stake in shares of Bionano Genomics by 47.3% during the third quarter. Geode Capital Management LLC now owns 882,854 shares of the company’s stock worth $401,000 after acquiring an additional 283,639 shares during the last quarter. Institutional investors own 11.35% of the company’s stock.

Bionano Genomics Company Profile

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.