Billiontoone, Inc. $BLLN Shares Acquired by Bank of America Corp DE

Key Points

• Institutional ownership increased substantially: Bank of America raised its Billiontoone stake by 8,603.4% to 12,707 shares, while several other funds also initiated or expanded positions during the first quarter.
• Insiders have been selling shares: Executives David Tsao and Nancy Johnson sold stock under pre-arranged Rule 10b5-1 plans, contributing to $25.7 million in insider sales over the past three months.
• Analyst sentiment is mixed: Billiontoone reported quarterly EPS in line with estimates at $0.15 and $109.45 million in revenue, but several firms cut price targets. The stock has a consensus “Hold” rating and an average target of $125.88.

Bank of America Corp DE increased its stake in Billiontoone, Inc. (NASDAQ:BLLN - Free Report) by 8,603.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,707 shares of the company's stock after purchasing an additional 12,561 shares during the quarter. Bank of America Corp DE's holdings in Billiontoone were worth $1,003,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in shares of Billiontoone by 151.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 30,506 shares of the company's stock valued at $2,408,000 after acquiring an additional 18,389 shares during the period. Renaissance Technologies LLC purchased a new stake in Billiontoone during the first quarter worth $4,046,000. Public Employees Retirement System of Ohio acquired a new stake in Billiontoone in the first quarter valued at $1,539,000. Sei Investments Co. purchased a new position in shares of Billiontoone in the first quarter valued at $1,058,000. Finally, Emerald Mutual Fund Advisers Trust increased its position in shares of Billiontoone by 11.9% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 132,206 shares of the company's stock valued at $10,436,000 after buying an additional 14,072 shares in the last quarter.

Insider Activity

In other news, CTO David Tsao sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $102.27, for a total transaction of $2,045,400.00. Following the completion of the sale, the chief technology officer owned 1,000 shares of the company's stock, valued at approximately $102,270. This trade represents a 95.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nancy Johnson sold 10,582 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $100.47, for a total transaction of $1,063,173.54. Following the completion of the sale, the insider directly owned 21,900 shares in the company, valued at $2,200,293. This represents a 32.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 224,883 shares of company stock worth $25,698,744. 50.22% of the stock is currently owned by insiders.

Billiontoone Stock Performance

Shares of BLLN stock opened at $99.39 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 11.69 and a quick ratio of 11.31. The company's fifty day moving average price is $113.80 and its two-hundred day moving average price is $95.48. The firm has a market capitalization of $4.69 billion and a P/E ratio of 141.99. Billiontoone, Inc. has a 12 month low of $61.96 and a 12 month high of $150.44.

Billiontoone (NASDAQ:BLLN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.15. The business had revenue of $109.45 million for the quarter. Billiontoone had a return on equity of 9.96% and a net margin of 8.04%. On average, research analysts anticipate that Billiontoone, Inc. will post 0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BLLN. Wall Street Zen cut shares of Billiontoone from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Canaccord Genuity Group started coverage on shares of Billiontoone in a research note on Wednesday. They set a "buy" rating and a $120.00 price objective for the company. BTIG Research reduced their target price on Billiontoone from $142.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. JPMorgan Chase & Co. lowered their target price on Billiontoone from $145.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, August 6th. Finally, Weiss Ratings raised Billiontoone from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, June 23rd. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Billiontoone presently has a consensus rating of "Hold" and a consensus target price of $125.88.

Billiontoone 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.

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