Bionano Genomics: Still Waiting For Genome Mapping Market To Reveal Itself

Dec. 09, 2022 1:49 PM ETBionano Genomics, Inc. (BNGO)ILMN, PACB, TTOO, AXDX3 Comments

Summary

  • Bionano Genomics, Inc. is an engaging company operating in the genome mapping space.
  • The company generated $7.2m of revenues from 217 installed bases in Q322.
  • Performance of genetic testing developers, e.g., Illumina and PacBio, in 2022 has been poor.
  • Bionano is making bold M&A moves - such as the announcement of a $64m deal for Purigen last months - to try to grow market share.
  • Their market-in-waiting for genomic testing could be very significant, but it may not materialize for 5-10 years from now, making BNGO a lukewarm buy opportunity at best for the time being.
  • We're currently running a sale at my private investing ideas service, Haggerston BioHealth, where members get access to portfolios, market alerts, real-time chat, and more. Learn More »

DNA molecule with world map

cherezoff

Investment Thesis

Mapping the human genome is described as "one of the greatest scientific feats in history" by the website of the National Human Genome Research Institute. As stupendous an achievement as it may have been, to date, genome mapping has thrown

BNGO stock chart

1 year share price performance of genome mapping stocks (TradingView)

Bionano Genomics ELEVATE strategy

ELEVATE strategy (Bionano presentation)

Bionano Genomics - Reason for customer preference for OGM

Reason for customer preference for OGM (Bionano presentation)

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This article was written by

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Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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