In the latest trading session, Bionano Genomics, Inc. (BNGO – Free Report) closed at $11.80, marking a +1.29% move from the previous day. This move outpaced the S&P 500’s daily loss of 0.11%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq gained 0.14%.
Heading into today, shares of the company had gained 135.11% over the past month, outpacing the Medical sector’s gain of 2.42% and the S&P 500’s gain of 2.46% in that time.
Wall Street will be looking for positivity from BNGO as it approaches its next earnings report date.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 48.49% lower. BNGO currently has a Zacks Rank of #3 (Hold).
The Medical – Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 216, putting it in the bottom 16% 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.