BNGO Dark Pool Activity

Dan to write this part

BNGO Stock Analysis

If you have spent any time on FinTwit or Reddit lately, you have no doubt read all you can handle about the genomics industry. BioNano Genomics (NASDAQ:BNGO) was actually popular before genomics was cool. Rather than engaging in CRISPR therapies like other companies, BioNano is in the field of genome mapping. Its patented Saphyr platform allows scientists to accurately and efficiently map out entire genomes. 

Why is this important?

Mapping out genomes is one way to reliably detect structural variants in our chromosomes. Specifically, BNGO works with cytogenomics and cytogenetics, with a focus on blood cancers and neuro genetic diseases. BioNano cites that Saphyr is actually the only system capable of detecting large structural variants. This means that Saphyr has an edge over other larger genomics companies such as Illumina (NASDAQ:ILMN) and Pacific Biosciences of California (NASDAQ:PACB). Both of these stocks are favorites of Ark Invest, so perhaps BioNano could be added to the Ark Genomics ETF at some point in the future. 

BNGO Trading Activity

BioNano is a classic case of a biotech stock that went too high too fast. Growth is always a matter of perspective with stocks: shares of BNGO are up 625% over the past year, but down 46.83% in the past six months. BNGO has a 52-week trading range of $0.47 to an all-time high of $15.69, so yeah, there was one heck of a surge in early 2021. The stock has been coiling and trading within range for the past few months, and looks close to a breakout in one direction or the other. Three times in the past year, BNGO’s RSI has hit at or near 30 which is generally a level that means the stock is oversold. Each time it hit that low, shares have bounced higher. The current trend is slightly bullish, with BNGO finding support at higher lows since May. Often with biotech stocks, the company needs a catalyst for the stock to really rip higher, so keep your eyes out ahead of its quarterly earnings call in August.

Dark Pool Charts

Now we hope you can see why using this dark pool data can be invaluable to our trading process. If you are an options trader, dark pool charts can alert you to things like options sweeps and large call or put contract blocks. If you can get in while options premiums are still low, you will have a serious edge over other retail traders. FlowTrade is the ultimate smart money algorithm that can provide real time dark pool data and flow. The intuitive user-friendly platform allows you to track four different stocks simultaneously on your computer and even track via your mobile phone, with plenty of scanners and even the ability to draw your own stock charts. Try a free 7-day trial today and see why tracking algos and dark pools is a great way to track the smart money and see where that flow is heading before anyone else on the market!