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Bionano Genomics, Inc. (BNGO) Gains But Lags Market: What You Should Know

Zacks Equity Research
·2-min read

Bionano Genomics, Inc. (BNGO) closed the most recent trading day at $0.79, moving +0.25% from the previous trading session. This move lagged the S&P 500's daily gain of 0.72%. Meanwhile, the Dow gained 0.89%, and the Nasdaq, a tech-heavy index, added 1.47%.

Prior to today's trading, shares of the company had gained 62.52% over the past month. This has outpaced the Medical sector's gain of 3.7% and the S&P 500's gain of 5.85% in that time.

Investors will be hoping for strength from BNGO as it approaches its next earnings release. In that report, analysts expect BNGO to post earnings of -$0.09 per share. This would mark year-over-year growth of 87.32%. Meanwhile, our latest consensus estimate is calling for revenue of $0.73 million, down 66.74% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.46 per share and revenue of $6.72 million. These totals would mark changes of +75.79% and -33.66%, respectively, from last year.

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It is also important to note the recent changes to analyst estimates for BNGO. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. BNGO currently has a Zacks Rank of #4 (Sell).

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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