Fintel reports that on May 25, 2023, EF Hutton initiated coverage of Bionano Genomics (NASDAQ:BNGO) with a Buy recommendation.
Analyst Price Forecast Suggests 643.65% Upside
As of May 11, 2023, the average one-year price target for Bionano Genomics is 4.96. The forecasts range from a low of 3.03 to a high of $7.88. The average price target represents an increase of 643.65% from its latest reported closing price of 0.67.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Bionano Genomics is 48MM, an increase of 63.80%. The projected annual non-GAAP EPS is -0.43.
What is the Fund Sentiment?
There are 255 funds or institutions reporting positions in Bionano Genomics. This is a decrease of 14 owner(s) or 5.20% in the last quarter. Average portfolio weight of all funds dedicated to BNGO is 0.04%, a decrease of 26.36%. Total shares owned by institutions decreased in the last three months by 1.26% to 82,764K shares. 
The put/call ratio of BNGO is 0.15, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,899K shares representing 2.90% ownership of the company. No change in the last quarter.
IWM - iShares Russell 2000 ETF holds 6,860K shares representing 2.24% ownership of the company. In it's prior filing, the firm reported owning 6,261K shares, representing an increase of 8.73%. The firm decreased its portfolio allocation in BNGO by 20.83% over the last quarter.
Geode Capital Management holds 5,794K shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 5,551K shares, representing an increase of 4.20%. The firm decreased its portfolio allocation in BNGO by 26.56% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 4,033K shares representing 1.31% ownership of the company. In it's prior filing, the firm reported owning 4,065K shares, representing a decrease of 0.79%. The firm decreased its portfolio allocation in BNGO by 23.72% over the last quarter.
KOMP - SPDR S&P Kensho New Economies Composite ETF holds 3,256K shares representing 1.06% ownership of the company. In it's prior filing, the firm reported owning 2,046K shares, representing an increase of 37.16%. The firm increased its portfolio allocation in BNGO by 25.98% over the last quarter.
Bionano Genomics Background Information
(This description is provided by the company.)
Bionano is a genome analysis company providing tools and services based on its Saphyr system to scientists and clinicians conducting genetic research and patient testing, and providing diagnostic testing for those with autism spectrum disorder (ASD) and other neurodevelopmental disabilities through its Lineagen business. Bionano's Saphyr system is a research use only 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. The Saphyr system is comprised of an instrument, chip consumables, reagents and a suite of data analysis tools. Bionano provides genome analysis services to provide access to data generated by the Saphyr system for researchers who prefer not to adopt the Saphyr system in their labs. Lineagen has been providing genetic testing services to families and their healthcare providers for over nine years and has performed over 65,000 tests for those with neurodevelopmental concerns.
Key filings for this company:
This story originally appeared on Fintel.
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