Bionano Genomics (NASDAQ:BNGO) Given New $4.00 Price Target at Scotiabank

Bionano Genomics (NASDAQ:BNGO) had its price target hoisted by equities researchers at Scotiabank from $1.00 to $4.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 11.11% from the company’s current price.

Bionano Genomics Stock Performance

Shares of BNGO traded up $0.50 during mid-day trading on Wednesday, hitting $3.60. The company’s stock had a trading volume of 108,443 shares, compared to its average volume of 80,754. Bionano Genomics has a one year low of $2.68 and a one year high of $72.60. The stock’s 50-day moving average is $4.69 and its two-hundred day moving average is $12.98. The firm has a market capitalization of $9.84 million, a PE ratio of -0.03 and a beta of 2.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.99 and a current ratio of 1.43.

Institutional Investors Weigh In On Bionano Genomics

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in shares of Bionano Genomics during the 4th quarter worth approximately $118,000. XTX Topco Ltd bought a new stake in Bionano Genomics in the 4th quarter valued at $45,000. Renaissance Technologies LLC bought a new stake in Bionano Genomics in the 4th quarter valued at $46,000. Geode Capital Management LLC lifted its holdings in shares of Bionano Genomics by 13.0% during the 4th quarter. Geode Capital Management LLC now owns 997,676 shares of the company’s stock worth $288,000 after acquiring an additional 114,822 shares during the period. Finally, Carret Asset Management LLC boosted its position in shares of Bionano Genomics by 39.9% during the 4th quarter. Carret Asset Management LLC now owns 119,000 shares of the company’s stock valued at $34,000 after acquiring an additional 33,945 shares in the last quarter. 11.35% of the stock is owned by institutional investors and hedge funds.

Bionano Genomics Company Profile

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.