BioNano Genomics (NASDAQ:BNGO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “BioNano Genomics, Inc. operates as a life sciences instrumentation company in the genome analysis space. The Company offers proprietary nanochannel chips, automated imaging instrument, integrated primary and secondary software, and application specific reagents. BioNano Genomics, Inc. is based in San Diego, United States. “

A number of other research firms have also recently issued reports on BNGO. Maxim Group reiterated a “buy” rating and issued a $11.00 target price on shares of BioNano Genomics in a research note on Monday, April 1st. Roth Capital reiterated a “buy” rating on shares of BioNano Genomics in a research note on Tuesday, February 5th.

BNGO stock opened at $3.00 on Thursday. The company has a current ratio of 5.94, a quick ratio of 5.64 and a debt-to-equity ratio of 3.13. The firm has a market capitalization of $34.16 million and a price-to-earnings ratio of -1.15. BioNano Genomics has a 1 year low of $2.71 and a 1 year high of $10.00.

BioNano Genomics (NASDAQ:BNGO) last posted its earnings results on Thursday, May 9th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.12). The business had revenue of $1.85 million during the quarter, compared to the consensus estimate of $1.76 million. As a group, analysts predict that BioNano Genomics will post -2.25 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Monashee Investment Management LLC raised its stake in shares of BioNano Genomics by 50.6% during the fourth quarter. Monashee Investment Management LLC now owns 245,860 shares of the company’s stock valued at $1,288,000 after purchasing an additional 82,595 shares in the last quarter. Millennium Management LLC bought a new stake in shares of BioNano Genomics during the fourth quarter valued at about $254,000. Worth Venture Partners LLC raised its stake in shares of BioNano Genomics by 1,666.6% during the fourth quarter. Worth Venture Partners LLC now owns 79,902 shares of the company’s stock valued at $417,000 after purchasing an additional 75,379 shares in the last quarter. Finally, Sio Capital Management LLC raised its stake in shares of BioNano Genomics by 7.1% during the first quarter. Sio Capital Management LLC now owns 1,538,424 shares of the company’s stock valued at $4,629,000 after purchasing an additional 101,963 shares in the last quarter. Institutional investors and hedge funds own 8.79% of the company’s stock.

About BioNano Genomics

Bionano Genomics, Inc operates as a life sciences instrumentation company in the genome analysis space. The company develops and markets 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, which is known as cytogenetics.

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