BioNano Genomics (BNGO) Rating Reiterated by Maxim Group

Maxim Group reaffirmed their buy rating on shares of BioNano Genomics (NASDAQ:BNGO) in a report published on Friday morning, AnalystRatings.com reports.

“Bionano reported 1Q19 with revenues of $1.9M up ~5% y/y, from $1.8M, though revenues declined sequentially (as expected), largely due to the seasonal nature of the business (discussed below). The company reported a net loss of ($7.9M) and a cash balance of $20.8M.”,” the firm’s analyst wrote.

Several other analysts have also issued reports on BNGO. Roth Capital reaffirmed a buy rating on shares of BioNano Genomics in a research report on Tuesday, February 5th. Zacks Investment Research lowered shares of BioNano Genomics from a hold rating to a sell rating in a research report on Friday, March 8th.

NASDAQ BNGO opened at $3.32 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.85 and a current ratio of 5.09. BioNano Genomics has a 1 year low of $2.71 and a 1 year high of $10.00. The firm has a market cap of $35.97 million and a price-to-earnings ratio of -1.27.

BioNano Genomics (NASDAQ:BNGO) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.12). The business had revenue of $1.85 million for the quarter, compared to analysts’ expectations of $1.76 million. Equities research analysts anticipate that BioNano Genomics will post -1.8 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Monashee Investment Management LLC raised its position in shares of BioNano Genomics by 50.6% in the fourth quarter. Monashee Investment Management LLC now owns 245,860 shares of the company’s stock valued at $1,288,000 after purchasing an additional 82,595 shares during the period. Federated Investors Inc. PA bought a new position in shares of BioNano Genomics in the third quarter valued at about $56,704,000. Worth Venture Partners LLC raised its position in shares of BioNano Genomics by 1,666.6% in the fourth quarter. Worth Venture Partners LLC now owns 79,902 shares of the company’s stock valued at $417,000 after purchasing an additional 75,379 shares during the period. Finally, Millennium Management LLC bought a new position in shares of BioNano Genomics in the fourth quarter valued at about $254,000. 10.33% of the stock is currently owned by hedge funds and other institutional investors.

BioNano Genomics Company Profile

Bionano Genomics, Inc operates as a life sciences instrumentation company in the genome analysis space. The company develops and markets the Saphyr system, a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets, and to streamline the study of changes in chromosomes, which is known as cytogenetics.

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