Bionano Genomics’ Latest Software Business Acquisition Adds Immense Value
InvestorPlace - Stock Market News, Stock Advice & Trading Tips BNGO stock isn't a darling of the markets at the moment, but Bionano continues to advance its stature in the...
Sometimes the market really likes life sciences company Bionano Genomics (NASDAQ:BNGO), but other times it’s indifferent. At the moment, BNGO stock is drifting along, waiting for a catalyst to push it higher.
Just to give you a review, Bionano Genomics’ primary product is the Saphyr System. This is an optical genome mapping instrument that can identify genome variations very quickly.
Amazingly, the Saphyr System “reveals structural variants (>500 bp), at sensitivities as high as 99%, with false positive rates below 2%.” Thus, if you want exposure to a leader in optical genome mapping, BNGO is a solid pick.
And really, you won’t need to sit around and hope that a positive catalyst comes along. Bionano is already taking action to advance the science — and in the process, its market position as well.
BNGO Stock at a Glance
While the price action in BNGO stock hasn’t been too exciting lately, there was plenty of movement earlier this year.
Stunningly, the stock rallied 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% return on your investment if you timed it perfectly.
Maybe the Reddit short-squeeze crowd was involved in that rally, or maybe they weren’t. Either way, BNGO stock fell fast in mid-February and even slipped to $5 in May.
Fast-forward to mid-October, and shares of Bionano Genomics are still drifting along at $5 and change. It’s possible that the market doesn’t know what to do with this company or its stock right now.
However, you don’t have to take your cues from the buyers and sellers. Rather, you can look at what the company’s doing to advance its foothold in the market.
Ultimately, you might find that BNGO stock has the potential to get back to $15 at some point.
Expanding the Team
If a company was really in trouble, would Bionano Genomics be adding to its talent pool now?
Probably not. Therefore, it’s a positive sign that the company is expanding its commercial leadership team, in order to help accelerate the global growth of Saphyr and to bolster its customer support.
The additions include:
- Amanda Hernandez, who has over 15 years of experience selling multiple products and services within the pharmaceutical and medical diagnostics industries
- Amanda Lettmann, who brings expertise in customer experience operations, business and digital transformation
- Justin Leighton, “a veteran in the genetics diagnostic testing industry”
- Bob Hertsenberg, who has built successful sales teams to drive sales revenue
As an informed investor, never forget that human capital is among the most essential foundations of any business.
Thus, Bionano Genomics CEO Erik Holmlin believes that the new team members’ combined experience in life sciences and genomics “can add tremendous value to our business and future, as well as help to revolutionize the industry.”
Getting the Tech and the Expertise
At the same time, Bionano is also pushing the envelope in terms of scientific discovery and advancement in optical genome mapping.
To prove this point, Bionano Genomics has entered into a definitive agreement to acquire BioDiscovery. This is a software company with solutions for the analysis, interpretation and reporting of genomics data.
BioDiscovery’s NxClinical software is a platform-agnostic solution that integrates next-generation sequencing and microarray data.
The purpose is to “provide data analysis, visualization, interpretation and reporting of copy number variants (CNVs) and single-nucleotide variants (SNVs) across the genome in one consolidated view.”
Through this transaction, BioDiscovery CEO Soheil Shams will join Bionano’s leadership team as Chief Informatics Officer. So, Bionano Genomics is getting both the software tech and the expertise at the same time.
“NxClinical is one of the most promising tools that integrates NGS and microarray data across the genome in one consolidated view, and we are thrilled to welcome Soheil and his team to Bionano as we work to transform the way the world sees the genome,” Holmlin commented.
Already, we’ve discovered multiple catalysts that should propel the BNGO share price forward.
Perhaps the market doesn’t appreciate the positive news yet, but that’s perfectly fine.
It’s really just one more opportunity to hold some shares of Bionano Genomics before they potentially return to their peak price.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
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