Bionano Genomics (BNGO) has disclosed a new risk, in the Share Price & Shareholder Rights category.
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Bionano Genomics encountered a significant business risk when it conducted a reverse stock split at a 1-for-10 ratio, as approved by its board of directors on August 2, 2023. Despite the intentions to enhance marketability, liquidity, and Nasdaq compliance, and to attract long-term investors, there’s no guarantee these goals will be realized. Such uncertainty poses a tangible threat to the company’s market price, potentially eroding the value of investments substantially. Investors are cautioned that this strategic move could materially and negatively affect the stock’s performance in the market.
The average BNGO stock price target is $8.50, implying 602.48% upside potential.
To learn more about Bionano Genomics’ risk factors, click here.
