Long BNGO - 200% or more
Updated
This is a speculative play in the Genomics industry. The technology has great promise and getting a lot of hype and recognition recently.
The risk is that they are not FDA approved and the company has cash issues. There may be a stock offering in the near future that will result in a stock price dip (-15 to 20%?) but it is only going to be even more bullish after the slight dip.
Bionano has made a targeted hire of CMO back in August which suggests that they are serious for the journey to FDA approval of Saphyr.
globenewswire.com/news-release/2020/08/18/2079877/0/en/Bionano-Genomics-Appoints-Industry-Leading-Cytogeneticist-Dr-Alka-Chaubey-as-the-Company-s-First-Chief-Medical-Officer-to-Help-Lead-the-Conversion-of-Cytogenetics-to-Digital-Cytoge.html
Their product Saphyr is actually complementary to Pacific Biosciences
PACB, the largest stock in the portfolio of ARK Genomic Revolution ETF (ARKG). If 2021 goes well for Bionano we could even see $15-$20 or something similar to PACB.
*RSI is above 90 which is way overbought - But this is not a technical play. May see a slight dip but I expect it to run up way higher
The risk is that they are not FDA approved and the company has cash issues. There may be a stock offering in the near future that will result in a stock price dip (-15 to 20%?) but it is only going to be even more bullish after the slight dip.
Bionano has made a targeted hire of CMO back in August which suggests that they are serious for the journey to FDA approval of Saphyr.
globenewswire.com/news-release/2020/08/18/2079877/0/en/Bionano-Genomics-Appoints-Industry-Leading-Cytogeneticist-Dr-Alka-Chaubey-as-the-Company-s-First-Chief-Medical-Officer-to-Help-Lead-the-Conversion-of-Cytogenetics-to-Digital-Cytoge.html
Their product Saphyr is actually complementary to Pacific Biosciences
PACB, the largest stock in the portfolio of ARK Genomic Revolution ETF (ARKG). If 2021 goes well for Bionano we could even see $15-$20 or something similar to PACB.*RSI is above 90 which is way overbought - But this is not a technical play. May see a slight dip but I expect it to run up way higher
Note
As expected they announced an intention, and subsequently an offering at $3.05 and price has dipped around 20% since the announcement. Stock price recovered on the day itself of announcement. Quite bullish going forward with upcoming catalyst
Next-Generation Cytogenomics Symposium JANUARY 11 - JANUARY 15
Note
Quite a positive symposium, closed a portion of it at 9.50 I think this stock may stay around $8-9 for awhileNote
Regarding above comments: Stock consolidated at around $10 - $12 instead. It has broke out of ascending triangle and retested $13.50. Looks bullish from here
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