Squarepoint Ops LLC Reduces Stake in Billiontoone, Inc. $BLLN

Key Points

• Squarepoint Ops LLC cut its Billiontoone stake by 61.8% in the second quarter, selling 14,173 shares and retaining 8,773 shares valued at approximately $1.05 million.
• Institutional sentiment was mixed: Wasatch Advisors and several other funds increased their positions, while analysts maintained a consensus “Hold” rating with an average price target of $125.88.
• Billiontoone shares were up 6.8%, opening at $110.67, while insiders sold 213,048 shares worth about $24.5 million over the past 90 days, including substantial sales by the CEO and another insider.

Squarepoint Ops LLC reduced its holdings in Billiontoone, Inc. (NASDAQ:BLLN - Free Report) by 61.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,773 shares of the company's stock after selling 14,173 shares during the quarter. Squarepoint Ops LLC's holdings in Billiontoone were worth $1,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLLN. The Manufacturers Life Insurance Company increased its position in 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 purchasing an additional 18,389 shares during the period. Sei Investments Co. purchased a new stake in shares of Billiontoone in the 1st quarter worth about $1,058,000. Wasatch Advisors LP lifted its position in shares of Billiontoone by 40.2% in the 2nd quarter. Wasatch Advisors LP now owns 518,084 shares of the company's stock worth $62,160,000 after purchasing an additional 148,446 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Billiontoone by 11.9% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 132,206 shares of the company's stock valued at $10,436,000 after purchasing an additional 14,072 shares in the last quarter. Finally, Perceptive Advisors LLC increased its position in shares of Billiontoone by 26.1% during the first quarter. Perceptive Advisors LLC now owns 91,812 shares of the company's stock valued at $7,248,000 after buying an additional 19,000 shares during the period.

Analysts Set New Price Targets

BLLN has been the topic of a number of research analyst reports. BTIG Research reduced their target price on Billiontoone from $142.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Weiss Ratings upgraded Billiontoone from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. reduced their price target on Billiontoone from $145.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, August 6th. Guggenheim started coverage on Billiontoone in a research report on Monday, June 29th. They set a "buy" rating and a $125.00 price objective for the company. Finally, Canaccord Genuity Group initiated coverage on shares of Billiontoone in a research report on Wednesday, September 2nd. They issued a "buy" rating and a $120.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $125.88.

Billiontoone Stock Up 6.8%

Shares of NASDAQ:BLLN opened at $110.67 on Friday. The company has a current ratio of 11.69, a quick ratio of 11.31 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $110.23 and a two-hundred day simple moving average of $96.90. Billiontoone, Inc. has a 12-month low of $61.96 and a 12-month high of $150.44. The stock has a market capitalization of $5.22 billion and a price-to-earnings ratio of 158.10.

Billiontoone (NASDAQ:BLLN - Get Free Report) last issued its quarterly 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 firm had revenue of $109.45 million during 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.

Insiders Place Their Bets

In other news, insider Thomas Lynch sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $99.99, for a total value of $1,999,800.00. Following the transaction, the insider owned 700 shares in the company, valued at approximately $69,993. This represents a 96.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Oguzhan Atay sold 32,500 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $136.95, for a total transaction of $4,450,875.00. Following the sale, the chief executive officer owned 20,000 shares in the company, valued at approximately $2,739,000. The trade was a 61.90% decrease in their position. 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 ninety days, insiders sold 213,048 shares of company stock valued at $24,530,135. Insiders own 50.22% of the company's stock.

Billiontoone Company Profile

BillionToOne, Inc is a molecular diagnostics company that develops blood-based tests designed to provide genetic and health information from small amounts of biological material. The company's technology uses its proprietary quantitative counting template approach to improve the accuracy and sensitivity of molecular testing.

The company's primary offerings include UNITY, a portfolio of prenatal genetic tests. These services support screening for chromosomal conditions, single-gene disorders and carrier status, and are designed to help healthcare providers assess fetal and maternal genetic risks using a maternal blood sample.

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