BNGO Stock Summary and Trading Ideas (Bionano Genomics | NASDAQ:BNGO)

Bionano Genomics Inc is a life sciences instrumentation company in the genome analysis space. It is engaged in the development and marketing of 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. Geographically, it operates in Americas, EMEA and Asia Pacific; majority revenue being generated from Americas. They generate product revenue from sales of its OGM and Ionic Purification systems and consumables, which includes its instruments, and their VIA software.

Bionano Genomics trades on the NASDAQ stock market under the symbol BNGO.

As of April 24, 2024, BNGO stock price declined to $0.76 with 754,337 million shares trading.

BNGO has a beta of 5.08, meaning it tends to be more sensitive to market movements. BNGO has a correlation of 0.35 to the broad based SPY ETF.

BNGO has a market cap of $46.60 million. This is considered a Sub-Micro Cap stock.

Last quarter Bionano Genomics reported $11 million in Revenue and -$.96 earnings per share. This beat revenue expectation by $141,000 and missed earnings estimates by -$.09.

In the last 3 years, BNGO stock traded as high as $91.20 and as low as $.71.

The top ETF exchange traded funds that BNGO belongs to (by Net Assets): VTI, VXF, VHT, DFAC, AVSC.

BNGO has underperformed the market in the last year with a price return of -88.8% while the SPY ETF gained +24.2%. BNGO has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -42.3% and -27.5%, respectively, while the SPY returned +4.6% and -2.7%, respectively.

BNGO support price is $.75 and resistance is $.84 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BNGO stock will trade within this expected range on the day.