Billiontoone (NASDAQ:BLLN) Now Covered by Analysts at Canaccord Genuity Group

Equities researchers at Canaccord Genuity Group initiated coverage on shares of Billiontoone (NASDAQ:BLLN) in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $120.00 price target on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 24.80% from the stock’s previous close.

Several other research firms also recently issued reports on BLLN. Wall Street Zen downgraded shares of Billiontoone from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of Billiontoone from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. Guggenheim started coverage on shares of Billiontoone in a research note on Monday, June 29th. They set a “buy” rating and a $125.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on Billiontoone from $145.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Finally, Zacks Research downgraded Billiontoone from a “hold” rating to a “strong sell” rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $125.88.

Billiontoone Price Performance

Shares of BLLN opened at $96.15 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 11.31 and a current ratio of 11.69. Billiontoone has a fifty-two week low of $61.96 and a fifty-two week high of $150.44. The business’s 50-day moving average is $114.43 and its two-hundred day moving average is $95.38. The company has a market capitalization of $4.54 billion and a P/E ratio of 137.36.

Billiontoone (NASDAQ:BLLN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. Billiontoone had a return on equity of 9.96% and a net margin of 8.04%.The company had revenue of $109.45 million for the quarter. Research analysts predict that Billiontoone will post 0.83 earnings per share for the current year.

Insider Buying and Selling at Billiontoone

In other Billiontoone news, CTO David Tsao sold 20,000 shares of Billiontoone stock in a transaction on Monday, June 15th. The shares were sold at an average price of $102.27, for a total value of $2,045,400.00. Following the sale, the chief technology officer directly owned 1,000 shares in the company, valued at approximately $102,270. The trade was a 95.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Oguzhan Atay sold 32,500 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $136.95, for a total value of $4,450,875.00. Following the completion of the sale, the chief executive officer owned 20,000 shares in the company, valued at approximately $2,739,000. This trade represents a 61.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 224,883 shares of company stock valued at $25,698,744. 50.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Billiontoone

Institutional investors and hedge funds have recently made changes to their positions in the business. Adams Street Partners LLC bought a new position in Billiontoone in the fourth quarter valued at $140,063,000. Wasatch Advisors LP increased its stake in Billiontoone by 40.2% during the 2nd quarter. Wasatch Advisors LP now owns 518,084 shares of the company’s stock valued at $62,160,000 after purchasing an additional 148,446 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Billiontoone in the 4th quarter worth about $39,717,000. JPMorgan Chase & Co. purchased a new stake in Billiontoone during the 4th quarter valued at $32,078,000. Finally, Emerald Advisers LLC boosted its position in Billiontoone by 26.8% in the first quarter. Emerald Advisers LLC now owns 239,562 shares of the company’s stock worth $18,911,000 after purchasing an additional 50,613 shares during the last quarter.

About Billiontoone

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.