BNGO Stock Forecast: BioNano Genomics Inc soars another 20% after cancer-related progress


  • NASDAQ: BNGO is trading some 20% higher in Monday's pre-market trading.
  • Renewed interest in BioNano Genomics Inc is behind the comeback.
  • High volatility is set to endure amid the firm's stock issuance. 

Is raising cash a sign of strength or a sign of weakness? That is the question for those investing in Bionano Genomics (NASDAQ: BNGO). The San-Diego-based pharmaceutical company kicked off 2021 with a dramatic announcement of a breakthrough in researching the genes behind the autism spectrum. Its groundbreaking analysis would allow developing care and sent share skyrocketing. 

Update: BioNano Genomics (NASDAQ: BNGO) has been extending its gains, rising by another 20% above $8.

Update: NASDAQ: BNGO has surged by over 23% on Thursday, closing the day at $6.95 – and there may be more in store. Friday's premarket trading is pointing to another double-digit leap of over 10% to $7.69. BioNano Genomic is benefiting from yet another promising announcement. In the company's symposium about cytogenetics, scientists and doctors shined a bright light on the firm's ability to help with several types of cancer, such that affecting the liver, eyes, breast, and liver, using the Saphyr optical genome mapping (OGM) system. Using BioNano's system, they could provide more precise therapies and prognoses. The news comes on top of advances in coronavirus and in the autism spectrum. 

Update: Bionano Genomics (NASDAQ: BNGO) has risen by just over 5% on Wednesday, at $5.63. The increase was mostly driven by the firm's announcement that it regained compliance from NASDAQ. The news was expected following BNGO's leap last week. Shares moved away from penny stock territory, fulfilling the exchange's minimum bid requirement for remaining listed. The surge came on top of progress in genetic sequencing related to both the autism spectrum and diagnosing illness in COVID-19 patients. Thursday's premarket trading is pointing to additional gains for the firm. 

Update: NASDAQ: BNGO shares are edging lower on Wednesday, changing hands at around $5.21, down from the highs. On the other hand, it is essential to note that Bionano Genomics' stock is still above the recent closing low of $4.70 recorded on January 8. The company continues benefiting from its new insights on the different effects of COVID-19 on different patients. Genetics have an impact on outcomes, also with the novel coronavirus. Bionano performed its study on 37 patients admitted to Augusta University's ICU. After examining 37 patients, it found significant upregulation of the ST26 gene in those suffering worst. The world is coping with new variants of SARS Cov-2, the virus behind covid, and genetic changes are behind the faster spread of the illness. Differences in DNA may also explain responsiveness to vaccines in the future. 

Update: NASDAQ: BNGO has closed Monday's session at $5.67, up some 20.64%. Tuesday's premarket trading is pointing to additional gains of around 3.17% to $5.85. Apart from the breakthrough in genetic research of autism, the most recent upside driver came after Bionano Genomic published a study that uses Saphyr to identify structural variants (SVs) in genes that could control the inflammatory and immune response. The world is focused on coronavirus vaccines, their production, and their deployment. However, finding the reasons to why people are becoming severely ill would also reduce physical and economic pain from the world. The all-time high of $7.24 may now come into sight. 

Bionano followed up with an announcement of new shares issuance which triggered a sell-off. The fall may have only been a natural correction after the giant leap – but for many, it exposed the company's need for filling its coffers amid dire financial straits. 

On the other hand, tapping markets for additional funds can be seen as a sign of growth – and that seems to be the narrative on Monday. Raising fresh cash should allow Bionano to accelerate its growth rather than dilute existing shareholders. 

One thing is clear – volatility is set to remain elevated with or without new developments coming from the company. 

BNGO stock price

NASDAQ: BNGO is changing hands at around $5.66 at the time of writing, up some 20%. Activity in shares has been substantial for a company worth less than $1 billion. The 52-week high of 7.24 – achieved in last week's rally – seems like a distant target. Strong support awaits at $4, which is a round number and also cushioned the stock on Friday. 

Broader stock markets are trending lower after the US reported a loss of 140,000 jobs in December while the Federal Reserve seems reluctant to step with more stimulus. 

For more, see the previous coverage of NASDAQ: BNGO

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD remains near 1.0400 post-US PCE

EUR/USD remains near 1.0400 post-US PCE

The US Dollar’s inconclusive price action allows some recovery in EUR/USD, keeping the pair around the 1.0400 region following the release of PCE inflation data for the month of January.

EUR/USD News
Gold slumps to fresh multi-week lows below $2,840

Gold slumps to fresh multi-week lows below $2,840

Gold stays under bearish pressure and trades at its lowest level in three weeks below $2,840. The uncertainty surrounding the Trump administration's trade policy and month-end flows seem to be weighing on XAU/USD, which remains on track to snap an eight-week winning streak. 

Gold News
GBP/USD clings to gains just above 1.2600 after PCE data

GBP/USD clings to gains just above 1.2600 after PCE data

GBP/USD remains positively oriented in the 1.2600 neighbourhood as the Greenback is navigating a vacillating range following the PCE inflation release.

GBP/USD News
The week ahead – US Payrolls, ECB rate meeting, ITV results – W/c 3rd March

The week ahead – US Payrolls, ECB rate meeting, ITV results – W/c 3rd March

Having seen the Federal Reserve keep rates on hold last month the US labour market continues to show remarkable resilience, despite seeing a slowdown in hiring in January, after a blow out December number. 

Read more
Weekly focus – Tariff fears are back on the agenda

Weekly focus – Tariff fears are back on the agenda

While the timing of the EU measures remains still uncertain, Trump surprised markets on Thursday by signalling that the 25% tariffs on Canada and Mexico will be enacted when the one-month delay runs out next Tuesday. 

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025