BNGO Stock: 2 Big Reasons Bionano Genomics Fans Should Be Cheering

Bionano Genomics (NASDAQ:BNGO) stock is getting a boost on Monday from a couple of new pieces of news.

Doctor touched medical clamp a DNA molecule

Source: Natali_ Mis/ShutterStock.com

Let’s start off with the news most directly connected to the company. It was revealed this morning that BNGO stock was added to the US small-cap Russell 2000® Index. This is due to the 2021 Russell indexes reconstitution and the stock’s membership in the Russell 3000® Index.

Erik Holmlin, PhD, CEO of Bionano Genomics, said the following about the positive news for BNGO stock.

“Inclusion in the Russell indexes enhances the visibility of our company as we continue to grow the installed base of Saphyr and potentially build the next great genomics company.”

The second big bit of news that has shares of BNGO stock on the move today comes from Intellia Therapeutics (NASDAQ:NTLA). It reported the first successful treatment of patients using CRISPR gene-editing therapy on an internal organ.

Bionano Genomics is also in the gene-editing business and is jumping alongside the positive news from NTLA. It isn’t just BNGO stock, either. Several others in the space are also seeing shares increase on the news. That includes Editas Medicine (NASDAQ:EDIT) and CRISPR Therapeutics (NASDAQ:CRSP).

BNGO stock isn’t seeing particularly heavy trading today despite the news. As of this writing, some 14 million shares had traded. That’s about half of the company’s daily average trading volume of roughly 23.7 million shares.

BNGO stock was up 2.9% as of Monday afternoon and is up 7.5% since the start of the year.

Investors still looking for more stock market news to dive into today are in luck!

InvestorPlace offers extreme insight into the stock market with our daily coverage. Today is no different. A few examples of stories worth checking out include Workhorse (NASDAQ:WKHS) and Carver Bancorp (NASDAQ:CARV) being targeted for short squeezes, as well as Payoneer (NASDAQ:PAYO) stock starting to trade today. You can learn all about this at the links below!

More Stock Market News for Monday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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