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

Bionano Genomics, Inc. (NASDAQ:BNGO) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 9,830,000 shares, an increase of 28.2% from the October 15th total of 7,670,000 shares. Based on an average trading volume of 2,010,000 shares, the short-interest ratio is presently 4.9 days. Approximately 10.3% of the shares of the stock are short sold.

Bionano Genomics Price Performance

Bionano Genomics stock traded down $0.02 during mid-day trading on Friday, reaching $0.24. 1,501,606 shares of the company’s stock traded hands, compared to its average volume of 1,770,990. The company has a market cap of $20.66 million, a price-to-earnings ratio of -0.05 and a beta of 2.37. Bionano Genomics has a 12-month low of $0.24 and a 12-month high of $2.27. The company has a quick ratio of 1.11, a current ratio of 1.63 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $0.37 and a two-hundred day moving average of $0.60.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Armistice Capital LLC bought a new position in Bionano Genomics in the second quarter worth approximately $1,138,000. Cetera Advisors LLC purchased a new stake in Bionano Genomics during the first quarter valued at approximately $163,000. GSA Capital Partners LLP purchased a new position in Bionano Genomics during the 3rd quarter worth $46,000. Carret Asset Management LLC increased its holdings 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 valued at $39,000 after acquiring an additional 40,055 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Bionano Genomics by 123.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 70,370 shares of the company’s stock worth $79,000 after buying an additional 38,900 shares during the last quarter. 11.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BNGO. LADENBURG THALM/SH SH cut Bionano Genomics from a “buy” rating to a “neutral” rating in a research note on Friday. BTIG Research lowered Bionano Genomics from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 10th. Finally, Scotiabank reiterated a “sector perform” rating and set a $1.00 target price (down from $6.00) on shares of Bionano Genomics in a research note on Wednesday, August 28th.

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.