Billiontoone (NASDAQ:BLLN) Stock Jumps 3.5% – Here’s What Happened
by Jessica Moore · The Cerbat GemBilliontoone, Inc. (NASDAQ:BLLN – Get Free Report)’s stock price shot up 3.5% on Wednesday. The company traded as high as $98.11 and last traded at $97.71. Approximately 70,566 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 551,014 shares. The stock had previously closed at $94.44.
Analysts Set New Price Targets
A number of research analysts recently issued reports on BLLN shares. Wall Street Zen downgraded shares of Billiontoone from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded Billiontoone from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Zacks Research upgraded Billiontoone from a “strong sell” rating to a “hold” rating in a research note on Friday, October 2nd. Guggenheim boosted their price objective on Billiontoone from $125.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, October 1st. Finally, BTIG Research lowered their target price on Billiontoone from $142.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.25.
Get Our Latest Analysis on BLLN
Billiontoone Stock Performance
The business’s 50-day simple moving average is $101.72 and its two-hundred day simple moving average is $101.18. The company has a quick ratio of 11.31, a current ratio of 11.69 and a debt-to-equity ratio of 0.17. The firm has a market cap of $4.61 billion and a price-to-earnings ratio of 139.43.
Billiontoone (NASDAQ:BLLN – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. Billiontoone had a return on equity of 9.96% and a net margin of 8.04%. The firm had revenue of $109.45 million during the quarter. As a group, sell-side analysts expect that Billiontoone, Inc. will post 0.83 earnings per share for the current fiscal year.
Insider Buying and Selling at Billiontoone
In other news, CEO Oguzhan Atay sold 32,500 shares of Billiontoone stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $136.95, for a total value of $4,450,875.00. Following the sale, the chief executive officer owned 20,000 shares in the company, valued at $2,739,000. This trade represents a 61.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Lynch sold 35,112 shares of Billiontoone stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $110.33, for a total transaction of $3,873,906.96. Following the completion of the sale, the insider owned 700 shares in the company, valued at approximately $77,231. This trade represents a 98.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 218,691 shares of company stock valued at $24,473,801 over the last ninety days. Corporate insiders own 50.22% of the company’s stock.
Hedge Funds Weigh In On Billiontoone
Several hedge funds and other institutional investors have recently made changes to their positions in BLLN. Sei Investments Co. purchased a new stake in shares of Billiontoone during the first quarter worth $1,058,000. The Manufacturers Life Insurance Company boosted its position in Billiontoone by 151.8% during the first quarter. The Manufacturers Life Insurance Company now owns 30,506 shares of the company’s stock worth $2,408,000 after acquiring an additional 18,389 shares during the last quarter. Wasatch Advisors LP boosted its position in Billiontoone by 40.2% during the second quarter. Wasatch Advisors LP now owns 518,084 shares of the company’s stock worth $62,160,000 after acquiring an additional 148,446 shares during the last quarter. Bank of America Corp DE grew its stake in Billiontoone by 8,603.4% during the 1st quarter. Bank of America Corp DE now owns 12,707 shares of the company’s stock valued at $1,003,000 after acquiring an additional 12,561 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its stake in Billiontoone by 11.9% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 132,206 shares of the company’s stock valued at $10,436,000 after acquiring an additional 14,072 shares in the last quarter.
About Billiontoone
BillionToOne, Inc (NASDAQ:BLLN) is a molecular diagnostics company that develops blood-based genetic tests designed to provide more information from small amounts of cell-free DNA. The company’s platform uses proprietary molecular counting technology to improve the sensitivity and accuracy of diagnostic testing.
BillionToOne’s primary business is reproductive health testing. Its UNITY portfolio is designed to support prenatal screening, including testing for chromosomal conditions and single-gene disorders, and is intended to provide physicians and expectant parents with information from a maternal blood sample.