Bionano Genomics, Inc. (NASDAQ:BNGO) Sees Significant Growth in Short Interest

Bionano Genomics, Inc. (NASDAQ:BNGO) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 4,160,000 shares, an increase of 13.0% from the August 31st total of 3,680,000 shares. Currently, 6.1% of the company’s stock are short sold. Based on an average daily volume of 1,770,000 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Investors Weigh In On Bionano Genomics

Hedge funds have recently modified their holdings of the stock. Cantor Fitzgerald L. P. raised its stake in shares of Bionano Genomics by 22.2% in the fourth quarter. Cantor Fitzgerald L. P. now owns 55,000 shares of the company’s stock valued at $104,000 after buying an additional 10,000 shares during the period. Quadrature Capital Ltd bought a new position in Bionano Genomics during the fourth quarter worth about $209,000. GSA Capital Partners LLP raised its position in shares of Bionano Genomics by 532.7% in the first quarter. GSA Capital Partners LLP now owns 549,789 shares of the company’s stock valued at $610,000 after purchasing an additional 462,887 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Bionano Genomics by 123.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 70,370 shares of the company’s stock valued at $79,000 after buying an additional 38,900 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Bionano Genomics in the 1st quarter worth approximately $36,000. Institutional investors own 11.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BNGO. BTIG Research cut Bionano Genomics from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 10th. Scotiabank reaffirmed a “sector perform” rating and set a $1.00 price objective (down from $6.00) on shares of Bionano Genomics in a report on Wednesday, August 28th.

Bionano Genomics Stock Performance

Shares of Bionano Genomics stock traded down $0.01 during mid-day trading on Monday, hitting $0.45. 1,125,734 shares of the stock were exchanged, compared to its average volume of 1,573,621. The company has a market capitalization of $30.24 million, a P/E ratio of -0.08 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.11 and a current ratio of 1.63. The company has a 50-day simple moving average of $0.49 and a 200 day simple moving average of $0.75. Bionano Genomics has a 12 month low of $0.31 and a 12 month high of $3.03.

Bionano Genomics (NASDAQ:BNGO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter. The business had revenue of $7.77 million during the quarter. Bionano Genomics had a negative net margin of 557.98% and a negative return on equity of 151.27%. Sell-side analysts anticipate that Bionano Genomics will post -1.42 earnings per share for the current fiscal year.

About Bionano Genomics

Bionano Genomics, Inc provides genome analysis software that enables genomics labs to analyze and interpret data across a range of platforms to generate informative data visualizations for streamlined and simple reporting of causal variants. It offers Saphyr, a sample-to-result solution for structural variation analysis by optical genome mapping for genome analysis and understanding of genetic variation and function; Saphyr instrument, a single-molecule imager; Saphyr Chip, a consumable that packages the nanochannel arrays for DNA linearization; and Bionano Prep Kits and DNA labeling kits, which provide the reagents and protocols for extracting and labeling ultra-high molecular weight DNA.