What's Going On With Bionano Genomics Stock?

Bionano Genomics, Inc. BNGO shares are trading lower Monday. The company's stock began trading on a reverse split-adjusted basis on Monday.

What To Know:

Bionano Genomics announced the 1-for-10 reverse stock split last Friday, and BNGO commenced trading on the split-adjusted basis as of market open Monday. BNGO shares are moving lower on above-average trading volume. According to Benzinga Pro, more than 660,000 shares have already been traded in the session compared to the stock's 100-day average of 1.04 million shares.

Bionano Genomics will release its second-quarter financial reports on Wednesday after the markets close and will hold a conference call to discuss the results at 4:30 p.m. ET the same day. The company is expected to report a loss of 10 cents per share and revenue of $8.29 million, according to data from Benzinga Pro.

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BNGO Price Action: According to Benzinga Pro, Bionano Genomics shares are trading 15.9% lower at $4.08 at the time of publication.

Image: TheDigitalArtist from Pixabay