Stock Track | Bionano Genomics Plunges 5.02% as Earnings Preview Signals Losses and Revenue Decline

Stock Track02-28

Bionano Genomics (BNGO) stock tumbled 5.02% in intraday trading on Friday, as investors reacted to an earnings preview that projected losses and a significant drop in revenue for the company's upcoming financial report.

According to the earnings preview, Bionano Genomics, based in San Diego, California, is expected to report a 42.2% decrease in revenue to $6.2 million for the quarter ending December 31, 2024, compared to $10.72 million in the same period a year ago. The mean estimate from analysts suggests the company will post a loss of $6.00 per share.

The bearish sentiment surrounding Bionano Genomics' earnings prospects appears to have weighed heavily on the stock's performance. With analysts maintaining a "hold" rating on the shares and a median 12-month price target of $60.00, investors may be exercising caution ahead of the company's financial results release, scheduled for March 3, 2025 (estimated).

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