BioNano Genomics (BNGO) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of BioNano Genomics (NASDAQ:BNGO) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “BioNano Genomics, Inc. operates as a life sciences instrumentation company in the genome analysis space. The Company offers proprietary nanochannel chips, automated imaging instrument, integrated primary and secondary software, and application specific reagents. BioNano Genomics, Inc. is based in San Diego, United States. “

Other equities analysts have also issued reports about the company. ValuEngine raised BioNano Genomics from a hold rating to a buy rating in a research note on Wednesday, November 7th. Roth Capital initiated coverage on BioNano Genomics in a research note on Wednesday, September 26th. They issued a buy rating and a $12.00 price objective on the stock. Finally, Maxim Group initiated coverage on BioNano Genomics in a report on Tuesday, September 25th. They issued a buy rating for the company.

BioNano Genomics stock opened at $6.51 on Tuesday. The company has a quick ratio of 4.72, a current ratio of 5.19 and a debt-to-equity ratio of 0.59. BioNano Genomics has a one year low of $5.51 and a one year high of $10.00.

A hedge fund recently bought a new stake in BioNano Genomics stock. Monashee Investment Management LLC bought a new position in BioNano Genomics (NASDAQ:BNGO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 163,265 shares of the company’s stock, valued at approximately $1,300,000. Monashee Investment Management LLC owned approximately 1.63% of BioNano Genomics as of its most recent filing with the Securities and Exchange Commission (SEC). 80.27% of the stock is currently owned by institutional investors.

About BioNano Genomics

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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