Let’s discuss Bionano Genomics BNGO stock and if you should think about buying some right now at its current price. During this video, I will give a BNGO stock price prediction on top of a great price point to purchase Bionano Genomics stock at. I will also inform you of both bear and bull perspectives on Bionano Genomics and lastly, I will go through three ETFs that can help you diversify in the genomics sector that are safe plays that will make you long-term money. Bionano Genomics ticker Symbol BNGO has earnings coming up soon and analysts are actually raising their predictions for BioNano Genomics earnings which is a good indicator of a good earnings report. The new estimates are that BNGO will lose 5 to 6 cents per share which means analysts have upgraded their earnings target by around 9%. These positive trends from analysts could lead us to conclude that BNGO stock could outpace the market but for now, analysts actually rate this stock as a hold and not a buy or sell at this time. However, this recent Bionano Genomics earnings report could change that for better or for worse. Two other stocks that I also like are Illumina ticker symbol ILMN and Pacific biosciences of California ticker symbol PACB and I mention those as good holds as well because the whole genomics sector is supposed to be one of the fastest-growing sectors so don’t miss out. If you are wondering BNGO will be releasing their earnings report for the 4th quarter on March 23 which could add volatility to the stock as the earnings date approaches. Now BNGO does not do gene editing like crisper but instead, they use their saphyr system to identify long segments of genomic DNA and structural variants. Bionano Genomics also offers other technologies like their Nano channel chips, imaging instruments, laboratory equipment, and medical computer software to help identify genetic diseases. But now let’s go over some bearish points for instance BNGO lost 10.8 million in the 3 quarter, their sales have declined year over year, and Bionano genomics price to sales ratio is 93 which is not good. To put that into perspective most biopharma companies have a pS ratio of less than 10. This would allude to the fact that the BNGO stock price is over-bought which justifies the analysts saying to stop buying BNGO and just hold long term. However, there is a bullish view on the future of Bionano genomics but is this just wishful thinking, or will the BNGO stock price rise again or will the stock price crash to below $5. Well let’s look at the fundamentals for analysis and this is not to say that the technical approach is flawless either but I do want to address how we should be thinking about BNGO stock. While Bionano Genomics stock does have a bullish driving force its volumes have not confirmed rising bullish sentiment. Basically, if we see the BNGO stock price is rising without also radically increasing the number of trades and volume of the stock this is not a good sign for three reasons. First off it shows a lack of confidence in the bullish sentiment, secondly, it shows fewer people buying at the higher price so there is less support, and if negative news comes out about BNGO stock the price could fall significantly. Now I am by no means saying that BNGO stock is a bad investment, however, I am worried that the price is getting high and risky enough where holding is definitely one of the best options for long-term investors right now. If you invested into BNGO for short money then you might be able to use the earnings report to get in and out quickly with a profit. So you may be wondering how should we play BNGO stock. Considering that BNGO is sitting around $9 this suggests that Bionano Genomics has a support line here that is low enough to where it is discounted relative to its peak. The BNGO stock price is waiting for earnings to either break below support or goes rise back up some. Now I do own BNGO stock but I like ABT stock and CRSP stock which do different things but you should be investing in multiple good stocks, not just BNGO. The genomics market will continue to expand and Wall Street looks favorably on BNGO stock which could eventually become a dominant player in genomics. BNGO stock has a lot of hype and buzz around it which increases the risk of the hype dying down. Also, Bionano Genomics might also need to do more stock offerings to raise capital which would dilute the stock price. #BNGOstock #Stocknews #Bionanogenomics
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