Billiontoone (NASDAQ:BLLN) Shares Up 10.6% Following Better-Than-Expected Earnings

Billiontoone, Inc. (NASDAQ:BLLN) traded up 10.6% on Thursday following a stronger than expected earnings report. The company traded as high as $88.80 and last traded at $90.0250. 520,768 shares traded hands during mid-day trading, an increase of 56% from the average session volume of 333,450 shares. The stock had previously closed at $81.40.

The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.33. The firm had revenue of $108.39 million for the quarter, compared to analyst estimates of $95.81 million. The business’s revenue for the quarter was up 83.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.39) earnings per share.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BLLN shares. Weiss Ratings reissued a “sell (d)” rating on shares of Billiontoone in a research report on Friday, May 1st. Wall Street Zen upgraded Billiontoone from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Guggenheim reduced their price target on Billiontoone from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, March 30th. BTIG Research dropped their price target on Billiontoone from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company dropped their price target on Billiontoone from $110.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Billiontoone currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.29.

Institutional Trading of Billiontoone

Several institutional investors and hedge funds have recently made changes to their positions in the business. Emerald Mutual Fund Advisers Trust raised its position in shares of Billiontoone by 11.9% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 132,206 shares of the company’s stock valued at $10,436,000 after acquiring an additional 14,072 shares during the last quarter. Emerald Advisers LLC raised its position in shares of Billiontoone by 26.8% during the 1st quarter. Emerald Advisers LLC now owns 239,562 shares of the company’s stock valued at $18,911,000 after acquiring an additional 50,613 shares during the last quarter. Wasatch Advisors LP bought a new stake in shares of Billiontoone in the 1st quarter valued at $29,179,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Billiontoone in the 4th quarter valued at $230,000. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Billiontoone in the 4th quarter valued at $8,277,000.

Billiontoone Stock Performance

The stock has a market cap of $4.18 billion and a price-to-earnings ratio of 432.99. The company has a current ratio of 11.69, a quick ratio of 11.32 and a debt-to-equity ratio of 0.12. The company’s 50-day simple moving average is $77.51.

Billiontoone Company Profile

BillionToOne (NASDAQ: BLLN) is a molecular diagnostics company that develops and commercializes high-precision genetic testing solutions based on single-molecule counting technology. The company’s platform is designed to detect and quantify rare genetic variants and chromosomal abnormalities from cell-free DNA, with a primary focus on applications in prenatal screening and other clinical genetic tests where sensitivity and specificity at very low allele fractions are critical.

BillionToOne’s offerings center on assay development and clinical testing workflows that enable non-invasive prenatal testing (NIPT) and targeted molecular diagnostics.