Why BioNano Genomics Traded Higher Today

BioNano Genomics Inc BNGO shares traded higher by 6.9% to $4.41 after the company reported better-than-expected first-quarter sales results.

Bionano Genomics reported quarterly sales of $3.2 million, which beat the analyst consensus estimate of $2.9 million.

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Bionano Genomics is a life sciences instrumentation company in the genome analysis space. It's engaged in the development and marketing of the Saphyr system, a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets and to streamline the study of changes in chromosomes.