Renaissance Technologies LLC Takes $4.05 Million Position in Billiontoone, Inc. $BLLN

Key Points

• Renaissance Technologies acquired 51,254 Billiontoone shares worth approximately $4.05 million, joining several major institutions that recently established positions in the company.
• Analysts maintain a generally positive outlook, with six Buy, three Hold, and one Sell rating. The consensus rating is Moderate Buy, with a target price of $126.71, though BTIG and JPMorgan recently lowered their targets to $130.
• Billiontoone reported quarterly earnings of $0.15 per share, in line with estimates, and revenue of $109.45 million. Meanwhile, insiders sold about 202,049 shares worth $23.5 million over the past 90 days, including a significant sale by CEO Oguzhan Atay.

Renaissance Technologies LLC acquired a new stake in shares of Billiontoone, Inc. (NASDAQ:BLLN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 51,254 shares of the company's stock, valued at approximately $4,046,000. Renaissance Technologies LLC owned 0.11% of Billiontoone at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BLLN. Adams Street Partners LLC acquired a new position in shares of Billiontoone during the 4th quarter valued at $140,063,000. Baillie Gifford & Co. acquired a new stake in shares of Billiontoone in the fourth quarter valued at $103,786,000. Price T Rowe Associates Inc. MD bought a new position in Billiontoone during the fourth quarter valued at about $39,717,000. JPMorgan Chase & Co. acquired a new position in Billiontoone during the fourth quarter worth about $32,078,000. Finally, Wasatch Advisors LP acquired a new position in Billiontoone during the first quarter worth about $29,179,000.

Wall Street Analysts Forecast Growth

BLLN has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Billiontoone from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, June 23rd. Wall Street Zen downgraded shares of Billiontoone from a "buy" rating to a "hold" rating in a report on Saturday. Guggenheim started coverage on shares of Billiontoone in a research note on Monday, June 29th. They set a "buy" rating and a $125.00 target price for the company. BTIG Research decreased their price target on shares of Billiontoone from $142.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on Billiontoone from $145.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $126.71.

Insider Activity at Billiontoone

In other Billiontoone news, insider Nancy Joann Johnson sold 801 shares of Billiontoone stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $124.91, for a total transaction of $100,052.91. Following the completion of the sale, the insider owned 21,099 shares of the company's stock, valued at $2,635,476.09. This trade represents a 3.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Oguzhan Atay sold 32,500 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $136.95, for a total transaction of $4,450,875.00. Following the completion of the transaction, the chief executive officer directly owned 20,000 shares in the company, valued at $2,739,000. This trade represents a 61.90% 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. Over the last 90 days, insiders sold 202,049 shares of company stock worth $23,496,861. Corporate insiders own 50.22% of the company's stock.

Billiontoone Stock Up 1.9%

NASDAQ:BLLN opened at $93.39 on Friday. The business's fifty day moving average price is $116.49 and its 200 day moving average price is $94.28. The firm has a market capitalization of $4.30 billion and a price-to-earnings ratio of 133.41. The company has a current ratio of 11.69, a quick ratio of 10.58 and a debt-to-equity ratio of 0.17. Billiontoone, Inc. has a 1-year low of $61.96 and a 1-year high of $150.44.

Billiontoone (NASDAQ:BLLN - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The company 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, sell-side analysts forecast that Billiontoone, Inc. will post 0.92 earnings per share for the current fiscal year.

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.

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