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BNGO - Bionano Genomics - Not Out Of The Woods Yet
Bionano Genomics Inc.
BNGO remains a speculative trade after Q2 revenue fails to give a solid signal of the medical community's acceptance of Saphyr.
The mediocre performance is by no means a thesis for shorting the ticker, given the company's robust balance sheet and commercial opportunity for Saphyr.
These competitive dynamics render BNGO a fully-valued stock. Upward revision rests on management's ability to deliver higher growth in terms of revenue, but more importantly, Saphyr's installed base.