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Bionano Genomics (BNGO) Stock Price, News & Analysis

Bionano Genomics logo
$0.26 -0.01 (-3.64%)
(As of 11/12/2024 ET)

About Bionano Genomics Stock (NASDAQ:BNGO)

Key Stats

Today's Range
$0.26
$0.29
50-Day Range
$0.26
$0.48
52-Week Range
$0.26
$2.27
Volume
3.64 million shs
Average Volume
3.20 million shs
Market Capitalization
$22.78 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$1.50
Consensus Rating
Hold

Company Overview

BioNano Genomics, Inc. is a leading life sciences company focused on developing and commercializing innovative solutions for genome analysis. The company's mission is to revolutionize genomics by providing researchers and clinicians with high-resolution, structural variation detection tools to enable a deeper understanding of the genome and its role in human health. BioNano Genomics' flagship product, the Saphyr® system, is a genome imaging platform that comprehensively analyzes structural variations in DNA. By offering a superior alternative to traditional sequencing methods, BioNano Genomics aims to drive advancements in genetic research and facilitate the diagnosis and treatment of genetic diseases.

Headquartered in San Diego, California, BioNano Genomics serves a diverse customer base, including academic and research institutions, pharmaceutical companies, and clinical laboratories worldwide. The company's cutting-edge technology has garnered recognition within the industry, with BioNano Genomics receiving prestigious awards such as the Edison Award for Innovation and the R&D 100 Award for its Saphyr system.

BioNano Genomics boasts a talented and experienced management team that drives the company's vision and strategic initiatives. The Chief Executive Officer, Dr. Erik Holmlin, brings more than 20 years of experience in the life sciences industry and has successfully led the company through significant milestones. Dr. Holmlin holds a Ph.D. in Molecular Biology and has held various executive positions at leading biotechnology companies.

BioNano Genomics has exhibited modest financial performance over the past few years, considering it has not achieved profitability. The company's reported revenue is increasing slowly, but net losses are growing faster than revenue. BioNano Genomics has consistently improved its profit margins, demonstrating its ability to scale operations.

BioNano Genomics' valuation metrics are compelling, indicating favorable investor sentiment. The company's price-to-sales ratio is attractive compared to industry peers, reflecting the market's confidence in its growth prospects. The valuation is driven by BioNano Genomics' disruptive technology, which positions it as a key player in the genomics industry.

BioNano Genomics has experienced significant stock price fluctuations in recent years, with stock prices surging over 200% in Q1 2021 before slowly receding to at or below its original Q1 2021 price. 

BioNano Genomics operates in the genomics industry, which is experiencing rapid growth and technological advancements. The increasing demand for genome analysis tools, driven by research initiatives and the rising prevalence of genetic diseases, presents a significant market opportunity. While the genomics industry offers considerable growth prospects, it is also highly competitive. BioNano Genomics faces competition from established players and emerging companies in the field. Key competitors include Illumina Inc., Pacific Biosciences of California Inc., and Oxford Nanopore Technologies Ltd. These companies offer sequencing technologies that compete with BioNano Genomics' Saphyr system.

However, BioNano Genomics differentiates itself by focusing on structural variation analysis, which provides valuable insights into complex genomic rearrangements that traditional sequencing methods may miss. The Saphyr system's ability to accurately detect large-scale structural variations positions BioNano Genomics as a leader in this niche market segment. The company's commitment to innovation and ongoing product enhancements gives it a competitive edge.

To strengthen its competitive positioning, BioNano Genomics actively collaborates with research institutions and key opinion leaders in the genomics field. These partnerships facilitate the validation and adoption of the Saphyr system while also contributing to the company's research and development efforts.

BioNano Genomics has several growth opportunities on the horizon. The company aims to expand its customer base by targeting new markets and geographies. Additionally, BioNano Genomics continues to invest in research and development to enhance the capabilities of the Saphyr system and develop new applications for its technology.

One significant growth opportunity lies in the clinical diagnostics market. The Saphyr system has demonstrated promising results in identifying structural variations associated with various genetic diseases, including cancer. As the clinical utility of the Saphyr system becomes more evident through clinical trials and validations, BioNano Genomics can penetrate the diagnostics market and collaborate with healthcare providers to improve patient care and treatment outcomes.

Furthermore, BioNano Genomics may consider strategic acquisitions or partnerships to complement its existing product portfolio and expand into adjacent market segments. By leveraging its expertise in structural variation analysis, the company can explore partnerships with pharmaceutical companies for drug discovery and development programs.

While BioNano Genomics is poised for growth, it faces risks and challenges. Regulatory factors play a crucial role in the genomics industry, and changes in regulations related to genomic testing, data privacy, or reimbursement policies could impact the company's operations. BioNano Genomics must stay abreast of regulatory developments and adapt its strategies accordingly.

Additionally, technological advancements and evolving customer preferences pose challenges. BioNano Genomics must continuously innovate and enhance its products to stay ahead of competitors and meet customer expectations. Failure to do so could result in a loss of market share.

Moreover, market acceptance and adoption of the Saphyr system remain key challenges. While the system has gained traction, broader adoption by research institutions and clinical laboratories is necessary for sustainable growth. BioNano Genomics must actively educate potential customers about the advantages of its technology and build a strong customer support infrastructure to drive adoption.

Bionano Genomics Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
41st Percentile Overall Score

BNGO MarketRank™: 

Bionano Genomics scored higher than 41% of companies evaluated by MarketBeat, and ranked 731st out of 986 stocks in the medical sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    Bionano Genomics has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 2 hold ratings, and no sell ratings.

  • Amount of Analyst Coverage

    Bionano Genomics has only been the subject of 2 research reports in the past 90 days.

  • Read more about Bionano Genomics' stock forecast and price target.
  • Earnings Growth

    Earnings for Bionano Genomics are expected to grow in the coming year, from ($1.42) to ($0.48) per share.

  • Price to Earnings Ratio vs. the Market

    The P/E ratio of Bionano Genomics is -0.05, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of Bionano Genomics is -0.05, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

  • Price to Book Value per Share Ratio

    Bionano Genomics has a P/B Ratio of 0.13. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

  • Read more about Bionano Genomics' valuation and earnings.
  • Percentage of Shares Shorted

    10.32% of the float of Bionano Genomics has been sold short.
  • Short Interest Ratio / Days to Cover

    Bionano Genomics has a short interest ratio ("days to cover") of 4.9.
  • Change versus previous month

    Short interest in Bionano Genomics has recently increased by 28.16%, indicating that investor sentiment is decreasing significantly.
  • Dividend Yield

    Bionano Genomics does not currently pay a dividend.

  • Dividend Growth

    Bionano Genomics does not have a long track record of dividend growth.

  • Percentage of Shares Shorted

    10.32% of the float of Bionano Genomics has been sold short.
  • Short Interest Ratio / Days to Cover

    Bionano Genomics has a short interest ratio ("days to cover") of 4.9.
  • Change versus previous month

    Short interest in Bionano Genomics has recently increased by 28.16%, indicating that investor sentiment is decreasing significantly.
  • News Sentiment

    Bionano Genomics has a news sentiment score of 1.89. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.58 average news sentiment score of Medical companies.
  • News Coverage This Week

    MarketBeat has tracked 2 news articles for Bionano Genomics this week, compared to 2 articles on an average week.
  • Search Interest

    35 people have searched for BNGO on MarketBeat in the last 30 days. This is an increase of 192% compared to the previous 30 days.
  • MarketBeat Follows

    10 people have added Bionano Genomics to their MarketBeat watchlist in the last 30 days. This is an increase of 400% compared to the previous 30 days.
  • Insider Buying vs. Insider Selling

    In the past three months, Bionano Genomics insiders have not sold or bought any company stock.

  • Percentage Held by Insiders

    Only 1.42% of the stock of Bionano Genomics is held by insiders.

  • Percentage Held by Institutions

    Only 11.35% of the stock of Bionano Genomics is held by institutions.

  • Read more about Bionano Genomics' insider trading history.
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BNGO Stock News Headlines

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Bionano Genomics announces publication outlining utility of OGM
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BNGO Stock Analysis - Frequently Asked Questions

Bionano Genomics' stock was trading at $1.89 at the beginning of the year. Since then, BNGO stock has decreased by 86.0% and is now trading at $0.2649.
View the best growth stocks for 2024 here
.

Bionano Genomics, Inc. (NASDAQ:BNGO) released its quarterly earnings data on Tuesday, August, 3rd. The company reported ($0.60) earnings per share for the quarter, missing analysts' consensus estimates of ($0.40) by $0.20. The business had revenue of $3.86 million for the quarter, compared to analysts' expectations of $3.30 million. Bionano Genomics had a negative net margin of 557.98% and a negative trailing twelve-month return on equity of 151.27%.

Shares of Bionano Genomics reverse split on Monday, August 7th 2023. The 1-10 reverse split was announced on Monday, August 7th 2023. The number of shares owned by shareholders was adjusted after the market closes on Monday, August 7th 2023. An investor that had 100 shares of stock prior to the reverse split would have 10 shares after the split.

Bionano Genomics (BNGO) raised $16 million in an initial public offering (IPO) on the week of August 20th 2018. The company issued 2,500,000 shares at $6.00-$7.00 per share. Roth Capital Partners and Maxim Group acted as the underwriters for the IPO and LifeSci Capital was co-manager.

Top institutional investors of Bionano Genomics include GSA Capital Partners LLP (0.12%) and Carret Asset Management LLC (0.13%). Insiders that own company stock include R Erik Holmlin, Christopher P Stewart, Hannah Mamuszka and Yvonne Linney.
View institutional ownership trends
.

Shares of BNGO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Based on aggregate information from My MarketBeat watchlists, some other companies that Bionano Genomics investors own include Zomedica (ZOM), Jumia Technologies (JMIA), Nano Dimension (NNDM), Waste Connections (WCN), AUO (AUOTY), American Water Works (AWK) and DiamondRock Hospitality (DRH).

Company Calendar

Last Earnings
8/03/2021
Today
11/13/2024
Next Earnings (Confirmed)
11/13/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Medical
Industry
Analytical instruments
Sub-Industry
Measuring And Control Equipment
Current Symbol
NASDAQ:BNGO
Fax
N/A
Employees
300
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$1.50
High Stock Price Target
$2.00
Low Stock Price Target
$1.00
Potential Upside/Downside
+466.3%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
2 Analysts

Profitability

Net Income
$-232,490,000.00
Net Margins
-557.98%
Pretax Margin
-557.95%

Debt

Sales & Book Value

Annual Sales
$36.12 million
Book Value
$2.10 per share

Miscellaneous

Free Float
84,776,000
Market Cap
$22.78 million
Optionable
Optionable
Beta
2.37
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This page (NASDAQ:BNGO) was last updated on 11/13/2024 by MarketBeat.com Staff
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