Sometimes the market really likes life science companies Bionano genomics (NASDAQ:BNGO), but other times it doesn’t matter. Right now, BNGO stock is adrift, waiting for a catalyst to push it higher.
Just to give you a review, the main product of Bionano Genomics is the Saphyr System. It is an optical genome mapping instrument that can very quickly identify variations in the genome.
Surprisingly, the Saphyr system “reveals structural variants (> 500 bp), at sensitivities up to 99%, with false positive rates of less than 2%. So, if you want to be exposed to a leader in optical genome mapping, BNGO is a solid choice.
And really, you won’t have to sit back and hope for a positive catalyst to happen. Bionano is already taking steps to advance science and, in so doing, its position in the market as well.
BNGO Stock at a glance
While the BNGO share price action hasn’t been too exciting lately, there was a lot of movement earlier this year.
Surprisingly, the stock went from 50 cents in December of last year to a 52-week high of $ 15.69 in February 2021. We’re talking about a 3,000% ROI if you got it right. stopwatch.
Maybe the Reddit The short-lived crowd was involved in this rally, or maybe they weren’t. Regardless, BNGO stock fell rapidly in mid-February and even slipped to $ 5 in May.
Fast forward to mid-October, and Bionano Genomics shares still drift to $ 5 and change. The market may not know what to do with this company or its stocks at this time.
However, you don’t have to be inspired by buyers and sellers. On the contrary, you can look at what the company is doing to strengthen its presence in the market.
Ultimately, you might find that BNGO stock has the potential to drop back to $ 15 at some point.
Expand the team
If a company was in serious trouble, would Bionano Genomics now add to its talent pool?
Probably not. It is therefore a positive sign that the company is expand its sales management team, in order to help accelerate Saphyr’s global growth and strengthen its customer support.
- Amanda Hernandez, who has over 15 years of experience selling multiple products and services in the pharmaceutical and medical diagnostic industries
- Amanda Lettmann, who brings her expertise in customer experience operations, businesses and digital transformation
- Justin Leighton, “a veteran of the genetic diagnostic testing industry”
- Bob Hertsenberg, who built successful sales teams to generate sales revenue
As a smart investor, never forget that human capital is one of the most essential foundations of any business.
So Erik Holmlin, CEO of Bionano Genomics, believes that the combined experience of the new team members in life sciences and genomics “can add tremendous value to our business and our future, as well as help to revolutionize the industry ”.
Obtain technology and expertise
At the same time, Bionano is also pushing the boundaries in terms of scientific discovery and advancements in optical genome mapping.
To prove this point, Bionano Genomics has entered into a final agreement to acquire BioDiscovery. It is a software company providing solutions for the analysis, interpretation and reporting of genomic data.
BioDiscovery No.XThe clinical software is a platform independent solution that integrates next generation sequencing and microarray data.
The aim is to “provide the analysis, visualization, interpretation and communication of data of copy number variants (CNVs) and single nucleotide variants (SNVs) across the genome in a consolidated view.”
Through this transaction, BioDiscovery CEO Soheil Shams will join Bionano’s management team as IT Director. Thus, Bionano Genomics obtains both software technology and expertise.
” NOTXClinical is one of the most promising tools that integrates NGS and microarray data across the genome into a consolidated view, and we are delighted to welcome Soheil and his team to Bionano as we work to transform the way the world sees the genome, ”commented Holmlin.
Already, we have discovered multiple catalysts that should propel the BNGO share price forward.
Maybe the market isn’t appreciating the positive news yet, but that’s perfectly fine.
This really is one more opportunity to own Bionano Genomics shares before they potentially return to their peak price.
As of the publication date, neither Louis Navellier nor the InvestorPlace research staff member primarily responsible for this article held (directly or indirectly) positions in the securities mentioned in this article.
The opinions expressed in this article are those of the author, subject to the publication guidelines of InvestorPlace.com.
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