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

Zacks Equity Research
·2-min read

Bionano Genomics, Inc. (BNGO) closed at $9.84 in the latest trading session, marking a +1.13% move from the prior day. The stock lagged the S&P 500's daily gain of 2.38%. Meanwhile, the Dow gained 1.95%, and the Nasdaq, a tech-heavy index, added 3.01%.

Coming into today, shares of the company had lost 7.6% in the past month. In that same time, the Medical sector lost 4.82%, while the S&P 500 lost 0.91%.

Wall Street will be looking for positivity from BNGO as it approaches its next earnings report date.

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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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 has moved 10.2% higher. BNGO is currently sporting a Zacks Rank of #3 (Hold).

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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