Penny Stocks To Buy [or sell]: Bionano Genomics
*Updated 8:05 AM EST 3/31/2020* Finally, Bionano Genomics (BNGO), similar to VIVUS, hasn’t been a big mover recently. However, on March 31 the company released notable news that has caught big attention. Bionano announced the launch of the largest study to date that targets identifying certain substances related to resistance or sensitivity to COVID-19.
According to the company, the first study of its kind is already underway in Wuhan, China and is being performed by Wuhan-based GandOmics. That service provider is using Bionano’s technology. Hannover Medical School is also launching a study involving 1,000 patients and controls. It will be consisting of COVID-19 patients and their partners and first-degree relatives as controls.
“As we face the threat of COVID-19, we understand the significance of accelerating how fast researchers and scientists can drive time-to-insight,” said Barry Bolding , Director, High Performance Computing, Amazon Web Services, Inc. “AWS is proud to be working with Bionano Genomics and Rescale to offer complimentary fully managed HPC capability that ramps up scientific data analysis quickly.”
Something to keep in mind is that the last time BNGO stock rallied, it came back down quickly. Will this news be a longer-term sticking point for the market this time around?