Billiontoone (NASDAQ:BLLN) Stock Price Down 5.7% – Here’s What Happened

by · The Markets Daily

Billiontoone, Inc. (NASDAQ:BLLNGet Free Report)’s share price dropped 5.7% on Wednesday . The stock traded as low as $77.55 and last traded at $78.40. Approximately 101,877 shares changed hands during trading, a decline of 57% from the average daily volume of 237,485 shares. The stock had previously closed at $83.14.

Billiontoone News Summary

Here are the key news stories impacting Billiontoone this week:

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Billiontoone from $110.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on Billiontoone from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. BTIG Research reduced their price objective on Billiontoone from $160.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday. William Blair started coverage on Billiontoone in a research report on Monday, December 1st. They set an “outperform” rating for the company. Finally, Piper Sandler reissued an “overweight” rating on shares of Billiontoone in a report on Wednesday, December 10th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Billiontoone presently has an average rating of “Moderate Buy” and an average target price of $129.57.

Get Our Latest Report on BLLN

Billiontoone Stock Performance

The company has a 50 day simple moving average of $85.87. The stock has a market cap of $3.30 billion and a P/E ratio of 721.70.

Billiontoone (NASDAQ:BLLNGet Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The firm had revenue of $96.05 million during the quarter, compared to the consensus estimate of $85.85 million. The business’s quarterly revenue was up 113.0% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rossby Financial LCC bought a new stake in Billiontoone during the 4th quarter valued at $25,000. Wells Fargo & Company MN bought a new stake in shares of Billiontoone during the 4th quarter valued at $76,000. Smartleaf Asset Management LLC purchased a new stake in Billiontoone during the 4th quarter worth about $80,000. Nano Cap New Millennium Growth Fund L P bought a new position in Billiontoone in the 4th quarter worth about $82,000. Finally, Renaissance Capital LLC purchased a new position in Billiontoone during the 4th quarter valued at about $201,000.

Billiontoone Company Profile

(Get Free Report)

BillionToOne (NASDAQ: BLLN) is a molecular diagnostics company that develops and commercializes high-precision genetic testing solutions based on single-molecule counting technology. The company’s platform is designed to detect and quantify rare genetic variants and chromosomal abnormalities from cell-free DNA, with a primary focus on applications in prenatal screening and other clinical genetic tests where sensitivity and specificity at very low allele fractions are critical.

BillionToOne’s offerings center on assay development and clinical testing workflows that enable non-invasive prenatal testing (NIPT) and targeted molecular diagnostics.

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