BNGO Stock Forecast: Stock price increased 6% as the stock is in the correction phase. Right time to buy?

BNGO Stock Forecast: Stock price increased 6% as the stock is in the correction phase. Right time to buy?

BNGO stock forecast: The stock price saw a continuous decline over the last 5 days. It has fallen down by 20% and the closing price as of 23rd November was $2.22. However, after the Q3 results, the stock price had shown high volatility.

BNGO Stock Forecast: Fundamental Analysis

The company’s total number of shares outstanding is 296.9 million. And the total market capitalization is $959.9 million. Its beta is 2.27x and its trailing EPS is -0.4. The PE ratio stands at -5.5x.

 BNGO Stock Forecast: Latest News

  • OGM’s utility for solid tumor research – On 21st November, BNGO released a publication of a study that proves OGM’s application in the detection of structural Variants and balanced rearrangements can bring better results than traditional methods or whole genome sequencing. The company believes that OGM can help sequencing-based approach for the assessment of solid tumor molecular.
  • Donna Polizio’s to lead global market access team – Appointing a global head for market access shows us the signs that the company is focusing on propagating the use of OGM.
  • Launch of Bionano Laboratories – Partnering with Lineagen once again, it will launch the first OGM-based laboratory-developed test.

BNGO Stock Forecast: Latest Price Target

Overall Average$8
Oppenheimer$12
BTIG Research$10
Ladenburg Thalmann$1.2

BNGO Stock Forecast: Latest video

YouTube video

BNGO Stock Forecast: Latest Quarter 3 Earnings

  • Revenue earned during Q3 was $7.2 million which is an increase of 8% from the previous quarter.
  • It incurred a net loss of $31.8 million and its EBITDA was also reported in loss of $29.4 million.
  • Earnings per share loss have remained constant since Q2 valuing $0.11.
  • Its cash and cash equivalents stand at $180.2 million versus $187.3 million in Q2.
  • Accumulated retained deficits have increased to $310 million.
  • Sold 3,975 nanochannel array flowcells and installed 217 Saphyr systems as of 30th September.

Also Read: Moderna Stock Forecast

BNGO Stock Forecast: Why did the stock price decline?

The stock price saw a continuous decline over the last 5 days. It has fallen down by 20% and the closing price as of 23rd November was $2.22. However, after the Q3 results, the stock price had shown high volatility. Only a couple of weeks ago, the stock breached its 200dma and 50dma and further rallied to $2.97. On the 15th of November, it had a total volume of 2.8 million. Since then one can say, the stock is in a correction phase after a such drastic rally. Maybe this is a chance to create alpha returns for investors who have previously missed out on it. This is because the company has a huge scope expansion as it has Launched Bionano Laboratories.

BNGO Stock Forecast: About the Company

Bionano Genomics, Inc. is a genomics company, which provides optical genome mapping analysis(OGM). It provides diagnostic services for detecting neuro-developmental disorders such as autism spectrum. Through its Biodiscovery business, it provides an agnostic-platform software solution.  

BNGO stock forecast
image 5

-Priyanshi Shah

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.