Bionano Genomics’ Latest Software Company Acquisition Adds Significant Value
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Sometimes the market really likes the life sciences company Bionano Genomics (NASDAQ:BNGO), but other times it doesn’t matter. At the moment, BNGO stock is drifting, waiting for a catalyst to push it higher.
Just to give you an opinion, the main product of Bionano Genomics is the Saphyr system. It is an optical genome mapping instrument that can identify variations in the genome very quickly.
Surprisingly, the Saphyr system “reveals structural variants (>500bp), at sensitivities as high as 99%, with false positive rates of less than 2%”. So, if you want exposure to a leader in optical genome mapping, BNGO is a solid choice.
And really, you won’t have to sit around and hope for a positive catalyst to show up. Bionano is already taking steps to advance science and, in doing so, its position in the market as well.
BNGO Stock at a Glance
While BNGO stock price action hasn’t been too exciting lately, there was a lot of movement earlier this year.
Amazingly, the stock has gone from 50 cents in December last year to a 52-week high of $15.69 in February 2021. We’re talking about a 3,000% return on investment if you time it perfectly.
Maybe the Reddit short-term mob was involved in this gathering, or maybe it was not. Either way, BNGO stock fell rapidly in mid-February and even slipped to $5 in May.
Fast forward to mid-October, and Bionano Genomics shares are still drifting $5 and changing. The market may not know what to do with this company or its stock right now.
However, you don’t have to rely on buyers and sellers. Instead, you can look at what the company is doing to advance its market presence.
Ultimately, you may find that BNGO stock has the potential to return to $15 at some point.
Expand the team
If a company was really struggling, would Bionano Genomics add to its talent pool now?
Probably not. It is therefore a positive sign that the company is expanding its commercial 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 expertise in customer experience operations, business and digital transformation
- Justin Leighton, “a veteran of the genetic diagnostic testing industry”
- Bob Hertsenberg, who built successful sales teams to drive sales revenue
As a wise investor, never forget that human capital is one of the most essential foundations of any business.
For example, 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 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 advancement in optical genome mapping.
To prove this point, Bionano Genomics has entered into a definitive agreement to acquire Biodiscovery. It is a software company providing solutions for the analysis, interpretation and reporting of genomic data.
BioDiscovery’s NxClinical software is a platform-independent solution that integrates next-generation sequencing and microarray data.
The goal is to “provide data analysis, visualization, interpretation and reporting of copy number variants (CNVs) and single nucleotide variants (SNVs) across the genome in a consolidated view”.
With this transaction, BioDiscovery CEO Soheil Shams will join Bionano’s management team as Chief Information Officer. Thus, Bionano Genomics obtains both the software technology and the expertise.
“NxClinical is one of the most promising tools that integrates NGS and microarray data across the genome into a consolidated view, and we are excited to welcome Soheil and his team to Bionano as we work to transform the way the world sees the genome,” Holmlin commented.
Already, we have uncovered several catalysts that should propel BNGO stock price forward.
Maybe the market isn’t appreciating the positive news yet, but that’s perfectly fine.
This is really just one more opportunity to hold shares of Bionano Genomics before they potentially return to their peak price.
As of the date of publication, neither Louis Navellier nor the member of the InvestorPlace research staff principally responsible for this article holds (directly or indirectly) any position in the securities mentioned in this article.
The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.
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