Bionano Genomics (NASDAQ:BNGO) Shares Gap Down - What's Next?

Shares of Bionano Genomics, Inc. (NASDAQ:BNGO - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $5.82, but opened at $5.70. Bionano Genomics shares last traded at $5.42, with a volume of 63,738 shares.

Analysts Set New Price Targets

Separately, LADENBURG THALM/SH SH cut Bionano Genomics from a "buy" rating to a "neutral" rating in a report on Friday, November 15th.

Bionano Genomics Trading Down 9.7 %

The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.07. The business's fifty day moving average is $12.97 and its two-hundred day moving average is $21.32. The firm has a market cap of $10.12 million, a price-to-earnings ratio of -0.04 and a beta of 2.22.

Institutional Trading of Bionano Genomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Carret Asset Management LLC raised its stake in shares of Bionano Genomics by 89.0% during the third quarter. Carret Asset Management LLC now owns 85,055 shares of the company's stock worth $39,000 after buying an additional 40,055 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Bionano Genomics during the 3rd quarter valued at $46,000. Finally, Geode Capital Management LLC boosted its position in shares of Bionano Genomics by 47.3% in the 3rd quarter. Geode Capital Management LLC now owns 882,854 shares of the company's stock worth $401,000 after purchasing an additional 283,639 shares during the last quarter. 11.35% of the stock is currently owned by institutional investors and hedge funds.

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.