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Bionano Genomics, Inc.

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BNGO trade ideas

$BNGO retraced to supportHello traders, investors, masters, and apprentices. Let's take a look at BNGO, one of the hottest genomic stocks at the moment. They have been rallying on the good news of their Saphyr system for optical genome mapping (bit.ly). Today the price headed against the IPO opening price but could not break it. In the after hour trading, this piece of news was released: "Bionano Genomics Inc. on Tuesday announced its second share sale in less than a month amid an unexplained spike in its price and volume, sending shares down in after-hours trading. Bionano did not disclose a targeted number of shares nor price in its offering, but the stock still fell more than 8% in the extended session. Bionano previously sold 29 million shares at $3.05 a share less than two weeks ago, as shares traded on the open market for more than $5. The stock has since continued to ride higher, closing at an all-time high of $9.14 Tuesday. Bionano shares traded for less than $1 for much of 2020, before prices..." (on.mktw.net) Well, despite the fall (mainly on account of the news, I believe), BNGO is on a very bullish trend so it seems like this may be a good opportunity to get in because the price dropped to a historic level that was strong resistance in the past (white rectangle) and would likely become support now. That level is also our first fib retracement. There is a good chance the price will hold there. BNGO rallied over 1000% the past month and the indicators on the monthly, weekly, and daily still show bullishness. I am most likely entering a position tomorrow. I have traded BNGO a couple of times the past week for some decent profit. If this support holds it may be an opportunity to start a long term position. Price could obviously fall from here but I think it is worth keeping an eye on this one and see how it reacts to the support tomorrow. Daily chart: Share the love: If you get anything out of this TA, please like the chart so it moves up and others can benefit from my work. A simple click on the like button goes a long ways. Follow for more: I have an outstanding winning rate (check my other charts). If you want the best entry/exits just follow me, you won't regret. Thanks a lot! ***The ideas shared here are my opinion, not financial advise to place trades. Please do your own research before buying/selling stocks***
NASDAQ:BNGO
by Safe_Trades
8
Oppenheimer Analyst Says buy, following of some positive dataOppenheimer 5-star Analyst Says BioNano Genomics is ready to Execute in 2021. the latest move was decidedly upbeat. In Wednesday’s session, the stock took off to the tune of 40% following the publication of some positive data. article which made side-by-side comparisons between Bionano’s optical genome mapping platform Saphyr and PacBio's HiFi chemistry revealed that Saphyr had the upper hand on several metrics. Across 32 different human genomes, PacBio technologies found only 72% of the large SVs (structural variants) that Bionano’s optical genome mapping (OGM) detected. Saphyr was also found to be better at locating indels in regions correlated to neurodevelopment. Additionally, Saphyr appears to be more cost effective. The platform’s estimated cost of $500 per genome coming in far below the $10,000-20,000 per genome when HiFi and SMRT sequencing are put into action. Oppenheimer’s Kevin DeGeeter believes the data should help Saphyr make further inroads in the “large SV research market.” The analyst views 2021 “largely as an execution year.” We expect the data to support broader adoption of Saphyr for de novo sequencing and research applications. the 5-star analyst said. “Furthermore, we expect 2021 to be an important year for adoption of Saphyr for clinical cytogenetics market based on a series of positive recent publications... Based on our current assessment of the competitive landscape, we do not believe long-read sequencing technologies can replicate Saphyr's performance and cost structure for digital cytogenetics testing.” Accordingly, DeGeeter reiterated an Outperform (i.e. Buy) on BNGO shares, along with a $1.5 price target. The implication for investors? Strong upside of 113% . Two other analysts have thrown the hat in with a BNGO review recently, one saying Buy and the other recommending a Hold -- all add up to a Moderate Buy consensus rating. Meanwhile, the average price target stands at $1.42, implying gains of 101% could be in the cards over the next 12 months. finance.yahoo.com
NASDAQ:BNGO
by AlenCiken
3
$BNGO #stock forming a textbook bull flag. Strap in 🚀BNGO (Bionano Genomics) is forming a textbook bull flag. This comes on the heels of a share offering, which is important. Share offerings dilute the value of the stock in the short term, but if general sentiment remains bullish, provides a buying opportunity for a takeoff after the retracement. Well, now we also have a bullish continuation pattern in the form of a bull flag, which sets us up beautifully because we don't have to guess. We can wait for a breakout or a rejection here. If we get rejected I'll be laddering my buys from $4.50 to $3.50. More prudent traders can just wait for a breakout or a breakdown of the pattern without even buying. It's all about not navigating these waters blindly. Patterns are our north star in this brutal game. Immediate targets in the case of a breakout are $7, but due to all of the fundamentals around this company I believe double digits is inevitable.
NASDAQ:BNGO
by TheTravel1ngTrader
7
Long BNGO - 200% or moreThis 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. www.globenewswire.com Their product Saphyr is actually complementary to Pacific Biosciences NASDAQ: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
NASDAQ:BNGOLong
by trilliondollar
4